Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2021 - IBBI/2020-21/GN/REG070 - Insolvency and Bankruptcy
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Updation of claim requirement: creditors must update claims after satisfaction; professionals must file periodic CIRP delay reports. Creditors must update their claims when satisfied, in whole or part, after the insolvency commencement date; resolution professionals must file Form CIRP 7 within specified short deadlines and then every thirty days while listed CIRP activities remain incomplete, with only one Form CIRP 7 filed at any time. The Schedule substitutes Form C to require detailed particulars for financial creditors, documentary evidence, an undertaking to update claims, and declarations on related-party status and committee eligibility.
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.
Updation of claim requirement: creditors must update claims after satisfaction; professionals must file periodic CIRP delay reports.
Creditors must update their claims when satisfied, in whole or part, after the insolvency commencement date; resolution professionals must file Form CIRP 7 within specified short deadlines and then every thirty days while listed CIRP activities remain incomplete, with only one Form CIRP 7 filed at any time. The Schedule substitutes Form C to require detailed particulars for financial creditors, documentary evidence, an undertaking to update claims, and declarations on related-party status and committee eligibility.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.