The Insolvency and Bankruptcy Board of India on 15th March, 2021 has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2021. The amendment provides that a creditor shall update its claim as and when the claim is satisfied, partly or fully, from any source in any manner, after the insolvency commencement date. The amendment has also provided that Form C shall be substituted with the new Form C for submission of claim and proof of claim.
