NOTICE:

- The List of Claims received up to May 24, 2018 have been revised as some of the provisionally admitted claims were reported as Registry Done cases. Further revisions have been made upon resolution of queries received. Please check the revised List of Claims received upto May 24, 2018.

- The claims as Financial Creditor are not admissible where the registry for the allotted unit has already been done. Any such claim inadvertently admitted is liable to rejection. The claimants are requested to notify any such cases.

 

CONSTITUTION OF COMMITTEE OF CREDITORS

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 has been notified on June 6, 2018.

The Ordinance has classified the amounts raised from allottee's of real estate projects as - FINANCIAL CREDITOR. Accordinngly such allottee's of real estate projects who have filed claims in FORM F may file revised claim in FORM C for classification as FINANCIAL CREDITOR.

Further important amendments have been made to provisiosns of Section 21 of Insolvemncy and Bankruptcy Code, 2016 for Constitution of Committee of Creditors - where the number of creditors of a class exceeds a specified number. The Regulations in respect of said amendments are expected to be issued soon. Since a large number of claims have been received from Financial Creditors the Committee of Creditors shall be constituted once the regulations in this regard are issued.

 

ADMISSION OF CLAIMS AND ENTITLEMENT TO ATTEND MEETINGS OF COMMITTEE OF CREDITORS

The claims received up to 24-5-2018 (i.e. Last Date for filing claim as per Public Announcement) shall be considered for forming initial Committee of Creditors for the purpose of convening First meeting of Committee of Creditors.

 

The claims received after 24-5-2018 shall be verified and admitted and constitution of Committee of Creditors shall be revised before convening the Second Meeting of Committee of Creditors – with claims received up to a week before the notice is sent for convening the Second Meeting of Committee of Creditors. Likewise the constitution of Committee of Creditors shall be updated with claims received up to a week before the notice is sent for convening the subsequent meetings of Committee of Creditors.

 

The claims may be submitted till a Resolution Plan is approved by the Committee of Creditors.

 



Clarifications  may be sought/ provided on the amount of Claim admitted by sending email to claimissuesamr@gmail.com

PLEASE MENTION CLAIM ID IN THE SUBJECT