Definitions . — In this Code, unless the context otherwise requires,— — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

3. Definitions . — In this Code, unless the context otherwise requires,— (1) " Board " means the Insolvency and Bankruptcy Board of India established under sub -section (1) of section 188; (2) " bench " means a bench of the Adjudicating Authority; (3) " bye-laws " mean the bye-laws made by the insolvency professional agency under section 205; (4) " charge " means an interest or lien created on the property or assets of any person or any of its undertakings or both, as the case may be, as security and includes a mortgage; (5) " Chairperson " means the Chairperson of the Board; (6) " claim " means— (a) a right to payment, whether or not such right is reduced to judgment, fixed, disputed, undisputed, legal, equitable, secured or unsecured; (b) right to remedy for breach of contract under any law for the time being in force, if such breach gives rise to a right to payment, whether or not such right is reduced to judgment, fixed, matured, unmatured, disputed, undisputed, secured or unsecured; (7) " corporate person " means a company as defined in clause (20) of section 2 of the Companies Act, 2013 (18 of 2013), a limited liability partnership, as defined in clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009), or any other person incorporated with limited liability under any law for the time being in force but shall not include any financial service provider; (8) " corporate debtor " means a corporate person who owes a debt to any person; (9) " core services " means services rendered by an information utility for— (a) accepting electronic submission of financial information in such form and manner as may be specified;

Section 3