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of <h1>Regulation 13: Resolution Professionals Must Verify Claims Within 7 Days, Update Creditor List, and Explain Late Rejections.</h1> Regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 mandates that the interim resolution professional or resolution professional must verify all claims within seven days from the last date of receipt. They must maintain and update a list of creditors with details of claims and security interests. If claims are not collated, reasons must be provided. Claims received late must be verified and categorized as acceptable or non-acceptable, with reasons communicated to creditors. The list of creditors must be accessible for inspection and filed with relevant authorities, including the Adjudicating Authority.
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