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Corporate Insolvency Resolution Process (CIRP)

Which of the following statements is correct with reference to the Corporate Insolvency Resolution Process (CIRP)?

  1. Section 7 – Initiation of corporate insolvency resolution process by financial creditor.
  2. Section 8 and 9 – Initiation of corporate insolvency resolution process by operational creditor.
  3. Section 10 – Initiation of corporate insolvency resolution process by corporate applicant.

Choose the correct answer from the codes given below:

A
Only 1
B
2 and 3
C
1 and 3
D
1, 2 and 3