valid as on 15/10/2018

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

17. Claims by financial creditors.

(1) A person claiming to be a financial creditor of the corporate person shall submit proof of claim to the liquidator in electronic means in

(2) The existence of debt due to the financial creditor may be proved on the basis of-

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

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

(i) a financial contract supported by financial statements as evidence of the debt;

(ii) a record evidencing that the amounts committed by the financial creditor to the corporate person under a facility has been drawn by the corporate person;

(iii) financial statements showing that the debt has not been repaid; and

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

Refer Schedule I of  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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