Section 86 of IBC : Section 86: Objections By Creditor And Their Examination By Resolution Professional

IBC

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Explanation using Example

Imagine that a company, ABC Corp, has been undergoing insolvency proceedings and the Adjudicating Authority (likely a tribunal specialized in insolvency matters) has passed an order listing out all the debts that qualify for insolvency resolution. XYZ Ltd. is one of the creditors mentioned in the order and is owed a substantial amount by ABC Corp.

Upon receiving the order, XYZ Ltd. notices that the amount of debt listed is incorrect – it is less than what ABC Corp actually owes them. According to Section 86 of the Insolvency and Bankruptcy Code, 2016, XYZ Ltd. has the right to...

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