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Union of India - Section

Section 39 in Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017

39. Extension of the fast track process period.

(1)The committee is of the opinion that the fast track process cannot be completed within the stipulated 90 days, it may instruct the resolution professional to make an application to the Adjudicating Authority under section 56 to extend the fast track process period.
(2)The resolution professional shall, on receiving an instruction from the committee under this Regulation, make an application to the Adjudicating Authority for such extension.
(Schedule)Form A
Public Announcement(Under Regulation 6 of the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017)For the Attention of the Creditors of [Name of Corporate Debtor]
Relevant Particulars
1. Name of Corporate Debtor  
2. Date of Incorporation of Corporate Debtor  
3. Authority under which Corporate Debtor isIncorporated / Registered  
4. Corporate Identity Number / Limited LiabilityIdentification Number of Corporate Debtor  
5. Address of the Registered Office and Principaloffice (if any) of Corporate Debtor  
6. Fast Track Commencement Date in Respect ofCorporate Debtor  
7. Estimated Date of Closure of Fast Track Process  
8. Name, Address, Email Address and theRegistration Number of the Interim Resolution Professional  
9. Last Date for Submission of Claims  
Notice is hereby given that the National Company Law Tribunal has ordered the commencement of a fast track process against the [name of the corporate debtor] on [fast track commencement date].The creditors of [name of the corporate debtor], are hereby called upon to submit a proof of their claims on or before [insert the date falling ten days from the appointment of the interim resolution professional] to the interim resolution professional at the address mentioned against item 8.[The financial creditors shall submit their proof of claims by electronic means only. All other creditors may submit the proof of claims in person, by post or by electronic means] [Substituted by Notification No. IBBI/2017-18/GN/REG 014, dated 16.8.2017 (w.e.f. 14.6.2017)]Submission of false or misleading proofs of claim shall attract penalties.Name and Signature of Interim Resolution Professional :Date and Place
(Schedule)Form B
Proof of Claim by Operational Creditors Except Workmen and Employees(Under Regulation 7 of the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017)[Date]ToThe Interim Resolution Professional / Resolution Professional[Name of the Insolvency Resolution Professional / Resolution Professional][Address as set out in public announcement]From[Name and address of the operational creditor]Subject: Submission of proof of claim.Madam/Sir,[Name of the operational creditor], hereby submits this proof of claim in respect of the fast track process in the case of [name of corporate debtor]. The details for the same are set out below:
Particulars
1. Name of Operational Creditor  
2. Identification number of Operational Creditor(If an incorporated body provide identification number and proof of incorporation. If a partnership or individual provide identification records* of all the partners of the individual)  
3. Address and Email Address of Operational Creditor for Correspondence  
4. Total Amount of Claim(Including any interest as at the fast track commencement date)  
5. Details of Documents by Reference to which the Debt can be substantiated  
6. Details of any dispute as well as the record of pendency or order of suit or arbitration proceedings  
7. Details of how and when debt incurred  
8. Details of any Mutual Credit, Mutual Debts, or other Mutual Dealing between the corporate debtor and the creditor which may be set-off against the claim  
9. Details of any retention of title arrangements in respect of goods or properties to which the claim refers  
10. Details of the Bank Account to which the amount of the claim or any part thereof can be transferred pursuant to a resolution plan  
11. List of Documents attached to this proof of claim in order to prove the existence and non-payment of claim due to the operational creditor  
     
Signature of operational creditor or person authorised to act on his behalf[Please enclose the authority if this is being submitted on behalf of an operational creditor]
Name in Block Letters
Position with or in relation to creditor
Address of person signing
*PAN number, passport, AADHAAR Card or the identity card issued by the Election Commission of India
(Schedule)Affidavit
I, [name of deponent], currently residing at [insert address], do solemnly affirm and state as follows: