Insolvency Resolution Process-Proof of claim by financial creditors by electronic means. Claim for other than financial/operational creditors to be in Form-F
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 16th August, 2017
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) (AMENDMENT) REGULATIONS, 2017
No. IBBI/2017-18/GN/REG013.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India hereby makes the following regulations to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, namely:—
1. These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017.
2. They shall come into force on the date of their publication in the Official Gazette.
3. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (hereinafter referred to as the principal regulations), after regulation 9, the following regulation shall be inserted, namely:—
“ 9A. Claims by other creditors.
(1) A person claiming to be a creditor, other than those covered under regulations 7, 8, or 9, shall submit proof of its claim to the interim resolution professional or resolution professional in person, by post or by electronic means in Form F of the Schedule.
(2) The existence of the claim of the creditor referred to in sub-section (1) may be proved on the basis of –
(a) the records available in an information utility, if any, or
(b) other relevant documents sufficient to establish the claim, including any or all of the following:—
(i) documentary evidence demanding satisfaction of the claim;
(ii) bank statements of the creditor showing non-satisfaction of claim;
(iii) an order of court or tribunal that has adjudicated upon non-satisfaction of claim, if any.”
4. In the principal regulations, in the schedule, in Form A, for paragraph starting with the words “The financial creditors” and ending with the words “electronic means”, the following paragraph shall be substituted, namely:—
“The financial creditors shall submit their proof of claims by electronic means only. All other creditors may submit the proof of claims in person, by post or by electronic means.”
5. In the principal regulations, in the Schedule, after Form E, the following new Form F shall be inserted, namely:—
“FORM F
PROOF OF CLAIM BY CREDITORS (OTHER THAN FINANCIAL CREDITORS AND OPERATIONAL CREDITORS)
[Under Regulation 9A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016]
Date ………..
To
The Interim Resolution Professional / Resolution Professional
[Name of the Insolvency Resolution Professional / Resolution Professional]
[Address as set out in public announcement]
From
[Name and address of the creditor]
Subject: Submission of proof of claim.
Madam / Sir,
I, [Name of the creditor], hereby submit the following proof of claim in respect of the corporate insolvency resolution process in the case of [name of corporate debtor]. The details of the same are set out below:
PARTICULARS
| 1. | Name of the creditor | |
| 2. | Identification number of the creditor (If an incorporated body corporate, provide identification number and proof of incorporation. If a partnership or individual, provide identification* record of all partners or the individuals) |
|
| 3. | Address and email address of the creditor for correspondence | |
| 4. | Description of the claim (Including the amount of the claim as at the insolvency commencement date) | |
| 5. | Details of documents by reference to which claim can be substantiated | |
| 6. | Details of how and when the claim arose | |
| 7. | Details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the creditor which may be set-off against the claim | |
| 8. | Details of: a. any security held, the value of security and its date, or b. retention title arrangement in respect of goods or properties to which the claim refers |
|
| 9. | Details of bank account to which the amount of the claim or any part thereof can be transferred pursuant to a resolution plan | |
| 10. | List of documents attached to this claim in order to prove the existence and non-satisfaction of claim due to the creditor | |
| Signature of the creditor or any person authorised to act on his behalf (Please enclose the authority if this is being submitted signed on behalf of the creditor) | ||
| Name in BLOCK LETTERS | ||
| Position with or in relation to the creditor | ||
| Address of the person signing | ||
* PAN, Passport, AADHAAR or the identity card issued by the Election Commission of India.
AFFIDAVIT
I, [name of deponent], currently residing at [insert address], do solemnly affirm and state as follows:
1. [Name of corporate debtor], the corporate debtor was, at the insolvency commencement date, being the __________ day of __________ 20__, justly and truly indebted to me for the claim, the value of which amounts to Rupees. [insert amount of claim]
2. In respect of my claim, I have relied on the documents specified below: [Please list the documents relied on as evidence of claim]
3. The said documents are true, valid and genuine to the best of my knowledge, information and belief.
4. In respect of the claim, I have not nor has any person, by my order, to my knowledge or belief, for my use, had or received any manner of satisfaction or security whatsoever, save and except the following (if any):
[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the creditor which may be set-off against the claim.]
Solemnly, affirmed at [insert place] on _________________ day, the __________day of__________ 20_____ .
Before me,
Notary / Oath Commissioner
Deponent’s signature
VERIFICATION
I, the Deponent hereinabove, do hereby verify and affirm that the contents of paragraph ___ to __of this affidavit are true and correct to my knowledge and belief and no material facts have been concealed therefrom.
Verified at ______ on this _____ day of ____ 201__ .
Deponent’s signature” .
Dr. M. S. SAHOO,
Chairperson [ADVT.-III/4/Exty./189/17]
Insolvency and Bankruptcy Board of India
Note : The Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 were published in the Gazette of India Extraordinary vide notification No. IBBI/2016- 17/GN/REG012 on 14th June, 2017.
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