Proof of Claim

A document filed by creditors with the Resolution Professional to establish and verify the amount of debt owed to them by the corporate debtor during CIRP. Different forms exist for financial creditors, operational creditors, and workmen/employees.

Proof of Claim is governed by the Insolvency and Bankruptcy Code, 2016 and regulated by IBBI. Understanding this concept is essential for ensuring regulatory compliance, avoiding penalties, and making informed corporate decisions in India.

Proof of Claim is relevant for company secretaries, compliance officers, chartered accountants, corporate lawyers, board members, and all professionals dealing with IBC regulatory matters in India.