Debt in foreign currency must be valued in Indian currency at the official exchange rate on the insolvency commencement date. Debt denominated in foreign currency must be valued in Indian currency at the official exchange rate as on the pre-packaged insolvency commencement date; 'official exchange rate' means the reference rate published by the Reserve Bank of India or rates derived from such reference rates.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Debt in foreign currency must be valued in Indian currency at the official exchange rate on the insolvency commencement date.
Debt denominated in foreign currency must be valued in Indian currency at the official exchange rate as on the pre-packaged insolvency commencement date; "official exchange rate" means the reference rate published by the Reserve Bank of India or rates derived from such reference rates.
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