valid as on 15/10/2018

2.9.16:Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

16. Claims by operational creditors.

(1) A person claiming to be an operational creditor of the corporate person, other than a workman or employee, shall submit proof of claim to the liquidator in person, by post or by electronic means in

(2) The existence of debt due to an operational creditor under this Regulation may be proved on the basis of-

(a) the records available with an information utility; or

(b) other relevant documents which adequately establish the debt, including any of the following –

(i) a contract for the supply of goods or services with corporate person, supported by an invoice demanding payment for the goods and services supplied to the corporate person;

(ii) an order of a court or tribunal that has adjudicated upon the non-payment of a debt, if any; and

(iii) financial accounts of the corporate person.

Refer Schedule I of  Insolvency and Bankruptcy Board of India Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. To view the schedule,Click Here

Schedule I-Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.


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