2.18.22. Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021

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The claims denominated in foreign currency shall be valued in Indian currency at the official exchange rate as on the pre-packaged insolvency commencement date.

Explanation. “official exchange rate” is the reference rate published by the Reserve Bank of India or derived from such reference rates.

Inserted vide Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 dated 09.04.2021. To view the notification, Click Here.