Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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of <h1>Foreign currency claims in fast track insolvency must convert to Indian currency using exchange rate on commencement date.</h1> Claims in foreign currency during the fast track insolvency resolution process for corporate persons are to be converted into Indian currency. This conversion must occur using the official exchange rate applicable on the fast track commencement date. The 'official exchange rate' refers to the reference rate published by the Reserve Bank of India or rates derived from it, as per the Insolvency and Bankruptcy Board of India's 2017 regulations.
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