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of <h1>Claimants Must Cover Costs to Prove Claims Under Regulation 24; False Claims Trigger Recovery Efforts by Liquidator.</h1> Regulation 24 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, stipulates that claimants are responsible for the costs associated with proving their claims. The expenses incurred by the liquidator in verifying and determining claims are included in the liquidation costs. However, if a claim or any part of it is determined to be false, the liquidator is tasked with attempting to recover the verification and determination costs from the claimant and must report the claimant's details to the Board.
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