Creditors get more time to file insolvency claims

The Insolvency & Bankruptcy Board of India (IBBI) has revised its regulations to allow more time for the submission of claims, benefiting creditors, especially in the real estate sector. Under the new rules, claims can be submitted within 90 days from the insolvency commencement date (ICD) or the date of the latest request for a resolution plan (RFRP), whichever is later, with reasons for any delays.

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