The INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC) initiates Corporate Insolvency Resolution Process (CIRP). A FINANCIAL CREDITOR may file an application before the NCLT under:

1. The Insolvency and Bankruptcy Code, 2016 (IBC) provides three modes of triggering CIRP: (a) Section 7 — application by a FINANCIAL CREDITOR (singly or jointly, with prescribed minimum 100 home buyers or 10% of total home buyers for real estate post-2020 amendment); (b) Section 9 — application by an OPERATIONAL CREDITOR after issuing a Section 8 demand notice and waiting 10 days for response; (c) Section 10 — application by the CORPORATE DEBTOR itself. 2. Threshold for default (minimum Rs 1 crore, raised from Rs 1 lakh by COVID notification dated 24 March 2020) under Section 4 IBC. 3. NCLT must admit or reject application within 14 days; CIRP timeline is 180 days extendable by 90 days, maximum 330 days (Section 12). 4. Hence option A is correct. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Insolvency and Bankruptcy Code 2016, Section 7_