Section 15 in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
15. Debt in foreign currency.
- The claims denominated in foreign currency shall be valued in Indian currency at the official exchange rate as on the insolvency commencement date.Explanation - "official exchange rate" is the reference rate published by the Reserve Bank of India or derived from such reference rates.
