When a company is admitted into insolvency, nobody can sue it or recover money from it in the usual way. A moratorium freezes those routes. The only way to be paid is to file your claim with the interim resolution professional (IRP) or resolution professional (RP) handling the case. If you do not file, or file late, or file on the wrong form, your claim may simply not count. Worse, once a resolution plan is approved, claims that were not part of it are generally wiped out.
Filing a claim is mostly paperwork, but it is paperwork with consequences. The amount accepted decides your vote (if you are a financial creditor) and your share of any payout. This page explains the forms, the timelines and what to do if your claim is rejected or reduced.
हिंदी में सारांश
जब किसी कंपनी के खिलाफ दिवाला पà¥à¤°à¤•à¥à¤°à¤¿à¤¯à¤¾ (CIRP) शà¥à¤°à¥‚ होती है, तो उससे पैसा वसूलने का à¤à¤•à¤®à¤¾à¤¤à¥à¤° तरीका है रेज़ोलà¥à¤¯à¥‚शन पà¥à¤°à¥‹à¤«à¥‡à¤¶à¤¨à¤² (IRP/RP) के पास अपना दावा (claim) दाखिल करना। पबà¥à¤²à¤¿à¤• अनाउंसमेंट में दी गई अंतिम तारीख तक सही फॉरà¥à¤® में दावा जमा करें — बैंक/लेंडर के लिठForm C, घर खरीदारों के लिठForm CA, सपà¥à¤²à¤¾à¤¯à¤° के लिठForm B, करà¥à¤®à¤šà¤¾à¤°à¤¿à¤¯à¥‹à¤‚ के लिठForm D। पà¥à¤²à¤¾à¤¨ मंज़ूर होने के बाद बिना दावे वाली रकम आम तौर पर खतà¥à¤® हो जाती है।
Is this your situation?
- You saw a public announcement in a newspaper or on the IBBI website about a company that owes you money
- You are a lender, supplier, employee, homebuyer, landlord or government department with dues from that company
- The last date for claims is near, or has passed
- You filed a claim and the RP accepted a lower amount
- Your claim was rejected and you have not been told why properly
- You are a homebuyer unsure whether to file in Form CA
Which form should you use?
The CIRP Regulations prescribe different forms for different creditors. Using the right one matters, because it decides how your claim is classified and whether you get a vote.
Form C: financial creditors
Banks, NBFCs, private lenders, debenture holders and others owed a financial debt. Financial creditors sit on the committee of creditors and vote in proportion to their admitted claims.
Form CA: creditors in a class
Homebuyers, deposit holders and other financial creditors who belong to a class. They vote through an authorised representative, chosen from options in the form.
Form B: operational creditors
Suppliers, service providers, contractors and other trade creditors. Operational creditors generally do not vote, but their claims must be admitted to be paid under the plan.
Form D: workmen and employees
Individual workmen and employees with unpaid salary, gratuity and other dues. Form E is used by an authorised representative filing for a group.
Form F: other creditors
Creditors who are neither financial nor operational, for example those with certain decree or damages claims.
Government dues
Tax and statutory authorities file as operational creditors. After the 2026 amendment, a security interest created only by operation of law does not make them secured creditors.
How to file your claim
Read the public announcement
The IRP publishes a public announcement in Form A, in newspapers and on the IBBI website, soon after appointment. It gives the last date for claims (14 days from the IRP's appointment), the email and address for submission, and often the classes of creditors.
Work out your claim as on the insolvency commencement date
Your claim is the amount due on the date insolvency began. Interest is calculated up to that date, at the contractual rate. Foreign currency claims are converted at the rate on that date. Do not include interest after that date.
Fill the correct form with supporting proof
Attach the agreement, invoices, ledger, proof of payment or disbursal, and any court or tribunal orders. Many forms need an affidavit. Incomplete claims are often partly rejected simply because proof was missing.
Submit by the prescribed mode
Most RPs accept claims by email and through an online portal, with physical copies if requested. Keep proof of submission and any acknowledgement.
Respond to queries from the RP
The RP verifies claims and may ask for more documents. Answer quickly and in writing. The RP prepares and publishes a list of creditors, which you should check for your name and admitted amount.
Challenge a wrong decision
If your claim is rejected or reduced unfairly, you can apply to the NCLT. Act quickly, because the plan process keeps moving and late challenges are harder.
Missed the deadline? Late claims
Missing the 14-day date is common, especially for suppliers who only learn about the insolvency weeks later. The regulations allow claims to be submitted after the last date, up to a later cut-off linked to the stage of the process, typically before the request for resolution plans is issued. Even after that, creditors have sometimes been allowed to file with the NCLT's permission where there was a good reason for the delay.
What you cannot safely do is wait until a resolution plan is approved. In Ghanashyam Mishra and Sons v Edelweiss ARC (2021), the Supreme Court held that once a plan is approved, all claims not part of it stand extinguished. This "clean slate" principle has since been written into the Code itself by the 2026 amendment. Claims against former promoters or guarantors are not affected, but the company itself starts afresh.
So if you have only just found out about the insolvency, file immediately and explain the delay in a covering letter. If the RP refuses to take the claim on record, we can approach the NCLT.
Claim rejected or reduced?
Resolution professionals verify claims based on the documents provided and the company's books. Disagreements usually arise over:
- Interest: charged at a rate not supported by the contract, or for periods after the commencement date.
- Classification: a lender treated as an operational creditor, or a homebuyer who was offered an "assured return" treated as something else.
- Disputed invoices: where the company's books show a dispute or a counter-claim.
- Guarantee claims: where the RP doubts the invocation or the validity of the guarantee.
- Related-party claims: related financial creditors are excluded from voting in the committee, and their claims attract closer scrutiny.
You can file an application before the NCLT challenging the RP's decision. The tribunal can direct the RP to reconsider or admit the claim. Classification disputes matter most for financial creditors, because they affect voting power. See Committee of Creditors.
Time and typical cost
Our fee for preparing and filing a claim is fixed in writing in advance. Challenges before the NCLT are priced separately.
| Step | Usual time | What it involves |
|---|---|---|
| Reading the announcement and choosing the form | Same day | Our review of your documents |
| Preparing the claim with proof | 2 to 5 days | Calculation of principal and interest; affidavit |
| Verification by the RP | Usually within 7 days of the last date, longer in practice | Responding to queries |
| Challenge before NCLT (if needed) | Weeks to months | Application, hearing, sometimes an appeal |
Documents to attach
Financial creditors (Form C / CA)
- Loan agreement, sanction letter or allotment letter
- Proof of disbursal or payments made (bank statements, receipts)
- Statement of account up to the commencement date
- Security documents and guarantees
- Any decree, order or recovery certificate
Operational creditors (Form B)
- Purchase orders, work orders, contract
- Invoices and delivery proof
- Ledger and record of part payments
- Any demand notice, reply or pending case
Employees and workmen (Form D)
- Appointment letter and salary slips
- Bank statements showing unpaid salary
- Gratuity or PF details where relevant
- Relieving or resignation letter, if any
Everyone
- Identity and address proof or company KYC
- Authority letter or board resolution (for companies)
- Bank details for any future payout
How we help creditors
- Right form, right class: we decide whether you are a financial, operational or other creditor before filing, because changing it later is harder.
- Correct calculation: interest is calculated strictly as per your contract up to the commencement date, so the RP has no reason to cut it.
- Complete proof: we attach everything the RP needs, so the claim is not reduced for lack of documents.
- Late filers: if the deadline has passed, we file with a covering explanation and, if needed, approach the NCLT.
- Fixed fees: the claim fee is agreed in writing in advance and never depends on the amount recovered.
A supplier who found out late
Here's a made-up example. A Faridabad steel trader learnt from a competitor that a customer owing it Rs 64 lakh had been admitted into insolvency six weeks earlier. The last date in the public announcement had passed, but the RP had not yet invited resolution plans.
We prepared a Form B claim the same week with invoices, e-way bills, the ledger and the buyer's balance confirmation, and filed it with a short note explaining that the trader had not seen the announcement. The RP verified and admitted the claim in full. When the resolution plan was later approved, the trader received its share as an operational creditor alongside others.
Mistakes creditors make with claims
- Claiming interest beyond the commencement date: the claim is frozen as on the date insolvency began. Interest after that date is not admitted.
- Using a generic claim format: the regulations prescribe specific forms. A claim on letterhead without the form and affidavit may be treated as incomplete.
- Leaving out security details: secured creditors must describe the security clearly. Missing details can lead to the claim being treated as unsecured.
- Not updating the claim: if you receive part payment or new information after filing, update the professional in writing.
- Missing the list of creditors: the professional publishes a list. Check it for your admitted amount and class, and object promptly if it is wrong.
- Assuming the guarantor is released: filing a claim against the company does not stop you from pursuing a personal guarantor separately.
Key dates in the claims process
| Event | When it happens |
|---|---|
| IRP appointed and moratorium begins | On the admission order |
| Public announcement in Form A | Within three days of the IRP's appointment |
| Last date for claims | 14 days from the IRP's appointment |
| Verification of claims | Generally within seven days of the last date |
| Constitution of the committee of creditors | After verification, as the process allows |
| Late claims accepted | Up to a later stage set by the regulations, typically before plans are invited |
Checklist when filing a claim
- Read the public announcement and note the last date for claims
- Choose the right form: B for operational, C for financial, CA for class creditors, D for workmen, F for others
- Calculate the amount due up to the insolvency commencement date
- Attach invoices, contracts, ledgers and bank records
- Attach proof of security, if any
- Sign the claim and verify it by affidavit where required
- Keep proof of submission (email receipt or portal acknowledgment)
- Follow up for the status of verification
If your claim is rejected or reduced
The resolution professional verifies claims and may accept, reject or partly admit them. If your claim is rejected or reduced, ask for the reasons in writing. You can then apply to the NCLT under Section 60(5). Act quickly, because once the CoC approves a plan, the clean slate principle may extinguish claims not included in it. The Supreme Court in Ghanashyam Mishra (2021) confirmed that claims not part of an approved plan stand extinguished.
The IBBI regulations allow claims to be filed even after the last date, up to a point, with the resolution professional's acceptance. Late filers should still file as soon as possible and explain the delay. See Section 7, Section 9 and homebuyers for the rules on different creditor types.
A supplier's claim partly rejected
Here's a made-up example. A Faridabad steel supplier filed a claim for Rs 2.3 crore against a construction company in CIRP. The resolution professional admitted only Rs 1.1 crore, saying that some invoices were not supported by delivery proof.
We collected e-way bills, transport receipts and GST records showing the deliveries, and wrote to the resolution professional asking for reconsideration. The resolution professional admitted another Rs 90 lakh. For the remaining amount, relating to goods the company said were defective, we applied to the NCLT, which upheld part of the claim after reviewing the quality reports.
Frequently Asked Questions
What is the last date to file a claim?
The date in the public announcement, which is 14 days from the IRP's appointment. Late claims are allowed up to a later stage of the process, but file as early as possible.
Which form should a homebuyer use?
Form CA, as a financial creditor in a class. You will also choose an authorised representative from the options in the form.
Can I include interest in my claim?
Yes, if your contract provides for it, calculated up to the insolvency commencement date. Interest after that date is not included.
What if the RP rejects my claim?
You can apply to the NCLT against the decision. Do it promptly, with documents showing why the claim is valid.
Do operational creditors get a vote?
Generally no. The committee of creditors consists of financial creditors. Operational creditors may attend meetings without voting in some cases and are paid under the resolution plan.
What happens if I never file a claim?
Once a resolution plan is approved, claims that are not part of it are extinguished. You may lose the right to recover from the company altogether.
Can I still pursue the guarantor?
Yes. Approval of a plan for the company does not release personal guarantors. See personal guarantor insolvency.
How are your fees decided?
A fixed fee for preparing and filing the claim, agreed in writing. Disputes before the NCLT are priced separately.
Need Your Claim Filed Correctly?
Send us the public announcement and your documents. We will prepare and file the claim in the right form, with interest worked out properly.
This page gives general information about the law as it stood when it was last reviewed. It is not legal advice on your case and does not promise any result. IBC rules and NCLT procedures change often, so outcomes depend on your own documents, dates and facts.
Need help with File Your Claim Before the Resolution Professional?
Send us the notice, the petition or the order. We will tell you where you stand, which bench hears it and the date the next step is due, in plain words.
