valid as on 01/08/2021

2.5.30:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

30. Verification of claims.

The liquidator shall verify the claims submitted within thirty days from the last date for receipt of claims and may either admit or reject the claim, in whole or in part, as the case may be.

(1) A creditor may assign or transfer the debt due to him or it to any other person during the liquidation process in accordance with the laws for the time being in force dealing with such assignment or transfer.

(2) Where any creditor assigns or transfers the debt due to him or it to any other person under sub-regulation (1), both parties shall provide to the liquidator the terms of such assignment or transfer and the identity of the assignee or transferee.

(3) The liquidator shall modify the list of stakeholders in accordance with the provisions of regulation 31.

Inserted vide the IBBI (Liquidation Process) (Fourth Amendment) Regulations, 2020 dated 13.11.2020. To view the notification,Click Here

IBBI (Liquidation Process) (Fourth Amendment) Regulations, 2020 dated 13.11.2020


CAIRR PLUS on Google Playsecretarial automation?Subscribe for Updates