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In Insolvency and Bankruptcy, if an application is admitted by Tribunal, Operational Creditor shall file a claim before Insolvency Professional in Form B with proof of claim within 14 days from the date appointing Insolvency Professional as stated in the public announcement.
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Operational Creditor other than employees of a Corporate Debtor (Company or LLP in Bankruptcy) small file Form B with Insolvency Professional within the time and date maintained in public announcement.
In an Insolvency Professional procedure after admission of an application by Tribunal, they will appoint Insolvency Professional as interim resolution professional for IRP process.
So, submission of Form B is pre-requisite for claiming any debt due from Corporate Debtor to an operational creditor.
The Form B contain;
- Details about operational creditor
- Claim amount
- Bank details of Operational Creditor
- Document list to support the claim
- How Debts created
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