Liquidation Process Regulation 16 of IBBI (Liquidation Process) Regulations, 2016 – Submission of claim

on by

The Insolvency and Bankruptcy Code, 2016

IBBI (Liquidation Process) Regulations, 2016

Chapter-V Claims

Regulation 16: Submission of claim.

1[16. (1) A person, who claims to be a stakeholder, shall submit its claim, or update its claim submitted during the corporate insolvency resolution process, including interest, if any, on or before the last date mentioned in the public announcement.

(2) A person shall prove its claim for debt or dues to him, including interest, if any, as on the liquidation commencement date.]

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References

References
1 ↑ Substituted by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 vide Notification No. IBBI/2019-20/GN/REG047 dated 25.07.2019.(w.e.f. 25.07.2019). Prior to substitution the sub-regulation as under:

“16. Proof of claim. A person, who claims to be a stakeholder, shall prove his claim for debt or dues to him, including interest, if any, as on the liquidation commencement date.”