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of <h1>Section 15 CIRP Initiation: Public Announcement Must Include Debtor Details, Claim Deadlines, and Penalties for False Claims.</h1> The public announcement of the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 15 must include specific details such as the name and address of the corporate debtor, the authority with which it is registered, the last date for claim submissions, and details of the interim resolution professional. The announcement must also specify penalties for false claims and the closure date of the CIRP, which is 180 days from application admission. As per Regulation 6 of the IBBI Regulations, 2016, the announcement should be made within three days of the interim resolution professional's appointment and published in specified newspapers and websites. The applicant bears the announcement expenses, subject to committee reimbursement.
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