Insolvency Code definitions clarify creditors, debt, related party rules, resolution plans, and pre-packaged insolvency terms. Section 5 of the Insolvency and Bankruptcy Code, 2016 defines the principal expressions used in Part II, including Adjudicating Authority, financial creditor, financial debt, operational creditor, operational debt, resolution applicant, resolution plan, resolution professional, liquidation-related terms, pre-packaged insolvency expressions and related party. The definitions also specify initiation date, insolvency commencement date, insolvency resolution process costs, interim finance, voting share and other connected concepts that determine the operation of corporate insolvency resolution and liquidation processes.