IBC Claim Verification in 2026: A Practical Guide for Creditors | ASC Group
When a company enters the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC), one of the most important steps is identifying the genuine claims of creditors. The process of claim verification helps establish the amount actually owed by the corporate debtor and ensures that creditors are appropriately considered during the insolvency proceedings. For creditors, submitting a claim is not simply about stating an amount. The claim needs to be supported by relevant records and examined in accordance with the applicable insolvency framework. What Is Claim Verification Under IBC? Claim verification is the process through which the Interim Resolution Professional (IRP) or Resolution Professional (RP) examines claims submitted by creditors during CIRP. The objective is to determine whether a debt exists, the amount payable, and the appropriate classification of the creditor's claim. The RP may consider information provided by the creditor ...