Proof of Claim by Financial Creditors

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Proof of Claim by Financial Creditors

Proof of claim by financial creditors is a specialized form that the financial creditors have to submit to lay claim on the debt that the corporate debtor owes them, after the assets of corporate debtor are liquidated according to the decision made by the Committee of Creditors. Through this blog, we are going to discuss the intricacies of this form and you would also know about the documents that you would have to submit alongside these forms in order to successfully lay claim to the debts.

Format of the FORM

This form is referred to as Form C, and the following is the structure and explanation regarding this form:

Note: The explanation is given within the characters “/*” and”*/”. Every included with these characters are only for explanation purposes and won’t appear in the actual forms.

FORM C

PROOF OF CLAIM BY FINANCIAL CREDITORS

(Under Regulation 17 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017)

/*Date of filing the form*/ [Date]

To

The Liquidator

[Name of the Liquidator]

[Address as set out in the public announcement] /*There is an entire process associated with public announcement */

From

[Name and address of the registered office and principal of the financial creditor]

/*the above is the financial creditor who seeks to lay claims*/

Subject: Submission of proof of claim in respect of the voluntary liquidation of [name of the corporate person] under the insolvency and bankruptcy code, 2016.

Madam/Sir,

[Name of the financial creditor] hereby submits this proof of claim in respect of the voluntary liquidation [name of the corporate person]. The details of the same are set out below:

*PAN, Passport, AADHAR Card or the identity card issued by the Election Commission of India/*the applicant has to submit any one of these mentioned identification proofs */

AFFIDAVIT

1. [Name of the deponent], currently residing at [address of the deponent], do solemnly affirm and state as follows.

1. The above named corporate person was, at the voluntary liquidation commencement date, that is, the ____________day of__________20____ and still is, justly and truly indebted to me [or to me and [insert name of co-partners]], or, as the case may be] for sum of Rs.­­­­­­­_________ for...........[please state consideration].
2. In respect to my claim of the sum or any part of thereof, I have relied on the documents specified below:

[please list the documents relied on as evidence of debt and of non-payment.].

3. The said documents are true, valid and genuine to the best of my knowledge, information and belief.
4. In respect of the said sum or part thereof, I have not, nor have my partners or any of them, nor has any person, by my/our knowledge, or belief, for my/our use, had any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate person and financial creditor which may be set-off against the claim]

Solemnly, affirmed at­­­­­­­­­­­­­­­­­­­­­­­­­_______________ on______________ day, the _____________ day of__________ 20_________

Before me,

Notary/Oath Commissioner

Deponent’s Signature.

VERIFICATION

 I, the Deponent hereinabove, do hereby verify and affirm that the contents of para ___ to __of this affidavit are true and correct to my knowledge and belief. Nothing is false and nothing material has been concealed there from.

Verified at ________ on this ________ day of ________ 201___. 

Deponent’s Signature.

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