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of <h1>Foreign Currency Claims in Liquidation Must Convert to Indian Rupees at Commencement Date Exchange Rate per IBBI Regulations.</h1> Claims denominated in foreign currency during the liquidation process under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, must be converted into Indian currency. This conversion should use the official exchange rate applicable on the liquidation commencement date. The 'official exchange rate' refers to the reference rate published by the Reserve Bank of India or derived from such rates.
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