Claims Filing: How are Claims under IBBI Filed by Applicants?

Ancoraa Resolution22 Apr, 2024Finance

A claim, as defined in the Insolvency and Bankruptcy Code (IBC), is essentially the right to reimbursement for an amount owed to a financially distressed company. Whether payment is due now or later, whether the amount is agreed upon by both parties, or whether there is a dispute, payment is inconsequential. A crucial consideration is that in order to receive money, the claimant must possess a valid reason for doing so. The purpose of this blog is to inform all readers that in order to submit a claim under the IBC, the claimant must do so through the IBBI website.