Q#49 - IBC Daily - 27 August 2026 Default under the IBC only occurs when whole of the debt becomes due and is not paid by the corporate debtor. The IBC defines default to mean when a claim for money is made by a creditor and corporate debtor refuses it Incomplete understanding of default The IBC defines default to mean non-payment of debt when whole or any part or instalment of amount of debt has become due and payable and is not paid by the debtor or corporate debtor The IBC does not define default Your answer was Sign in × Section 3(12) of the IBC defines default in the same words as used in option (d) above