The Insolvency and Bankruptcy Board of India on 9th April, 2021 has issued the Insolvency and Bankruptcy Board of India (Prepackaged Insolvency Resolution Process) Regulations, 2021. The corporate debtor shall submit a list of claims in Form P10 to the resolution professional. The resolution professional shall maintain a list of claims in Form P10 and update it as and when required. Form P10 shall be:
(a) available for inspection by the creditors, members, partners, directors and guarantors of the
corporate debtor;
(b) displayed on the website, if any, of the corporate debtor;
(c) filed with the Board on electronic platform; and
(d) presented at the meetings of the committee, as and when updated
The resolution professional shall make a public announcement within two days of the commencement of the process as per following procedure:
- The public announcement shall be in Form P9;
- It shall be sent to every creditor listed in Form P2;
- It shall be sent to information utilities; and
- It shall be published on the website, if any, of the corporate debtor and the Board.
