Last Updated: August 2026 | LegalFund India — Pan India | ~5 min read
Your debtor has entered insolvency.
The NCLT has admitted the CIRP petition. The public announcement has been made. And somewhere in that announcement — buried in the formalities — is a claims filing deadline.
Miss that deadline and your entire claim — however valid, however well-documented — may be excluded from the resolution process entirely. You could end up receiving nothing while other creditors who filed on time receive their proportionate share.
Filing a Proof of Claim with the Resolution Professional is the single most critical action a creditor must take once their debtor enters CIRP. It is not complicated — but it has specific forms, specific documentation requirements, and a hard deadline that the RP cannot extend.
This guide tells you exactly what to file, which form to use, what documents to attach, and what happens after you file — so that your claim is properly admitted and protected in the resolution process.
📌 Quick Answer
When a debtor enters CIRP under the IBC 2016, every creditor must file a Proof of Claim with the Interim Resolution Professional (IRP) or Resolution Professional (RP) within 30 days of the public announcement under Regulation 12 of the IBBI (CIRP) Regulations 2016. Financial creditors use Form C, operational creditors use Form F, employees/workmen use Form E, and other claimants use Form G. Missing the deadline risks exclusion from the List of Creditors and the resolution plan distribution. LegalFund funds creditor-side CIRP participation — including claims filing support and resolution plan challenges — on a non-recourse basis. Submit your case at legalfund.in/contact — free expert review in 10 days.
💔 Meet Arvind — He Missed the Claims Deadline by 11 Days. It Cost Him Everything.
Arvind Mehta’s industrial equipment supply company had delivered ₹1.8 crore worth of machinery to a Delhi-based manufacturer — invoiced, acknowledged, and partially paid. The outstanding was ₹1.12 crore when the manufacturer’s bank filed a CIRP petition before NCLT.
Arvind saw the news on a legal portal and called his lawyer. His lawyer said “we’ll deal with it” — but got busy with other matters. The public announcement had been made on Day 1 of CIRP. The 30-day claims deadline was Day 30.
Arvind’s team filed their claim on Day 41.
The IRP rejected the claim as time-barred. An application to NCLT for condonation of delay was filed. NCLT held that CIRP timelines are strict and declined to condone the delay.
The resolution plan was approved. Operational creditors who filed on time received a partial distribution. Arvind received nothing.
₹1.12 crore. Documented. Acknowledged. Lost — not to the insolvency, but to an 11-day delay in filing a form.
The claims filing deadline is the most unforgiving deadline in Indian commercial law. No extension. No grace period. No second chances in most cases.
📋 Part 1: Understanding the Claims Process — Why It Exists and How It Works
What Is a Proof of Claim?
A Proof of Claim is a formal document submitted by a creditor to the IRP or RP — declaring the existence, nature, and quantum of their claim against the corporate debtor (the company in CIRP).
The RP uses all submitted claims to:
- Prepare the List of Creditors — a formal record of who is owed what
- Constitute the Committee of Creditors (CoC) — made up exclusively of financial creditors, with voting rights proportional to their admitted claim
- Evaluate resolution plans — ensuring they distribute at least the liquidation value to each class of creditor
- Distribute proceeds in liquidation — if no resolution plan is approved
A creditor who does not file a claim does not appear on the List of Creditors. They have no voice in CoC proceedings (if a financial creditor), no entitlement in the resolution plan distribution, and no share in liquidation proceeds.
The Public Announcement — Your Starting Gun
The 30-day claims deadline begins from the date of the public announcement made by the IRP under Regulation 6 of the CIRP Regulations.
The public announcement must be published:
- In one English language newspaper and one regional language newspaper of wide circulation
- On the NCLT website
- On the IBBI website
- On the corporate debtor’s website
How creditors actually find out: In practice — many creditors miss the newspaper announcement. The most reliable way to monitor whether a debtor has entered CIRP is to regularly check the IBBI’s website (ibbi.gov.in) and the NCLT cause list. LegalFund’s assessment process includes checking whether any debtor you are pursuing has entered or is entering CIRP.
The 30-Day Window — And What Regulation 12(2) Provides
Under Regulation 12(1) of the IBBI (CIRP) Regulations 2016 — creditors must file their claims within 30 days of the public announcement.
Regulation 12(2) provides a limited exception: a creditor who fails to file within 30 days may still submit their claim before the resolution plan is approved — but this is at the RP’s discretion, and courts have been inconsistent about whether such late claims must be admitted.
The safe, correct approach: File within 30 days. Do not rely on Regulation 12(2) as a safety net.
📝 Part 2: Which Form to Use — The Four Claim Forms
The IBBI CIRP Regulations specify different forms for different categories of creditor. Using the wrong form is a common error that results in the RP seeking clarification and potentially rejecting the claim.
Form C — Financial Creditors
Who uses this form: Banks, financial institutions, NBFCs, debenture holders, bond holders, and any person who has lent money to the corporate debtor under a financial contract — including interest-bearing loans, market-borrowings, and any instrument creating a financial obligation.
Key requirements for Form C:
- Nature of the financial debt (loan agreement, debenture, bond, etc.)
- Amount of principal outstanding as of the insolvency commencement date
- Interest accrued and unpaid
- Any security interest created in favour of the financial creditor (mortgage, pledge, hypothecation)
- Copy of the underlying financial agreement
- Latest account statement showing the outstanding
- Security documents (mortgage deed, hypothecation agreement) if security exists
Financial creditors who are admitted as such become members of the Committee of Creditors and receive voting rights in proportion to their admitted claim.
Form F — Operational Creditors
Who uses this form: Suppliers, vendors, service providers, employees (other than workmen for current dues), contractors, and anyone owed money for goods delivered or services rendered.
This is the most commonly used form for businesses whose debtor has entered CIRP.
Key requirements for Form F:
- Nature of the operational debt — supply of goods, provision of services, etc.
- All outstanding invoices — with invoice number, date, amount, and due date
- Delivery challans, purchase orders, or service completion certificates acknowledging the goods/services
- GST records matching the invoices
- Any prior partial payments — showing what was paid and what remains outstanding
- All prior communications — demand letters, emails, legal notices — establishing the debt
- Any decree or arbitral award already obtained for the debt
Critical point: The claim amount must be calculated as of the insolvency commencement date — not the filing date. Include all amounts due up to the date NCLT admitted the CIRP petition.
Form E — Workmen and Employees
Who uses this form: Workmen (as defined under the Industrial Disputes Act) and employees filing claims for dues — unpaid wages, gratuity, provident fund, and other employment-related entitlements.
Workmen’s dues of the 24 months preceding CIRP commencement receive priority treatment under Section 53 IBC — ranking alongside secured financial creditors in the distribution waterfall.
Form G — Other Claimants
Who uses this form: Any person who has a claim against the corporate debtor not covered by the above categories — including government authorities for taxes, homebuyers in certain real estate cases, and other statutory claimants.
🛠️ Part 3: Step-by-Step — How to File the Claim Correctly
Step 1 — Obtain the RP’s Contact Details From the Public Announcement
The public announcement contains:
- The name and registration number of the IRP/RP
- Their email address and postal address for receipt of claims
- The last date for submission of claims (30 days from announcement date)
- The NCLT bench details
Always use the contact details from the official public announcement — not general contact information found elsewhere.
Step 2 — Calculate Your Claim Amount Accurately
The claim must reflect the amount owed as of the insolvency commencement date — the date NCLT passed the CIRP commencement order.
For operational creditors — the calculation:
Principal outstanding (all unpaid invoices up to commencement date)
- Interest accrued (at contractual rate, or at 18% per annum if MSME — compound under MSMED Act)
- Any other agreed charges (late payment fees, storage costs) = Total Claim Amount
Do not include invoices issued after the commencement date — those are post-commencement operational costs with different treatment.
Step 3 — Gather All Supporting Documents
This is the step most creditors underestimate. The RP will verify your claim against documents — an undocumented or poorly documented claim will be admitted at a lower value or rejected entirely.
For operational creditors (Form F) — complete document checklist:
✅ All outstanding invoices (original or certified copies) ✅ Purchase orders or work orders from the corporate debtor ✅ Delivery challans, lorry receipts, or proof of delivery — signed by debtor’s representative ✅ Service completion certificates (for service contracts) ✅ Bank statements showing payments received and outstanding balance ✅ GSTR-2B reconciliation showing the debtor’s acknowledgement of your supplies ✅ All prior demand letters, legal notices, and correspondence ✅ Any prior partial payments — bank credit entries ✅ Any existing decree or arbitral award for the debt ✅ If MSME-registered: Udyam registration certificate (for compound interest entitlement)
For financial creditors (Form C) — additional documents:
✅ Executed loan agreement or facility agreement ✅ Sanction letter ✅ Statement of account (certified by the financial institution) ✅ Security documents — mortgage deed, hypothecation agreement, pledge documents ✅ Any demand/recall notices sent to the corporate debtor
Step 4 — Complete the Form Correctly
Each form has specific fields that must be completed accurately. Common errors that cause delays:
- Wrong creditor category — filing Form C when you should file Form F (or vice versa) causes the claim to be placed in the wrong creditor category
- Claim amount discrepancy — the amount in the form doesn’t match the supporting documents
- Missing authorization — for corporate creditors, the form must be signed by an authorized representative (with board resolution authorizing the specific person)
- Wrong commencement date — calculating the claim as of the filing date rather than the CIRP commencement date
Step 5 — Submit the Claim
Claims are submitted to the RP by:
- Email — to the RP’s official email address (with all documents as PDF attachments)
- Physical submission — in person or by post to the RP’s registered address
- IBBI Claims Portal — for cases where digital submission is available
Always keep proof of submission:
- For email — keep the sent email with read receipt if possible; print and preserve
- For physical — obtain an acknowledgement or use RPAD (Registered Post with Acknowledgement Due)
- For portal submissions — screenshot the submission confirmation
Step 6 — Track Verification Status
After submission, the RP:
- Verifies the claim against the corporate debtor’s books and records
- May call for additional documents or clarification
- Admits the claim (fully or partially) or rejects it with reasons
The List of Creditors — published on the IBBI website — shows all admitted claims. Check that your claim appears correctly after the RP’s verification is complete.
Step 7 — Challenge Incorrect Admission or Rejection
If your claim is admitted at a lower value than filed, or rejected — you can challenge this:
Before NCLT: File an application challenging the RP’s decision on your claim — citing the documentary evidence supporting your claimed amount.
Important: Do this promptly. Delays in challenging a rejected or under-admitted claim can affect your rights in subsequent stages of the CIRP.
📊 Proof of Claims — Quick Reference Summary
| Creditor Type | Form | Key Documents | Deadline |
|---|---|---|---|
| Financial creditor (bank, NBFC) | Form C | Loan agreement, account statement, security documents | 30 days from public announcement |
| Operational creditor (supplier, vendor) | Form F | Invoices, delivery challans, POs, bank statements | 30 days from public announcement |
| Workmen/employees | Form E | Employment records, wage slips, PF statements | 30 days from public announcement |
| Other claimants (tax, homebuyers) | Form G | Relevant statutory documents | 30 days from public announcement |
| Late filing (after 30 days) | Any applicable form | All above + application for condonation | Before resolution plan approval — at RP’s discretion |
⚠️ 6 Critical Mistakes That Destroy CIRP Claims
Mistake 1 — Missing the 30-day deadline. As Arvind’s case demonstrates — this is the most catastrophic mistake. The CIRP timeline is strict. Courts rarely condone delays. Monitor the IBBI website for any debtor entering CIRP and file immediately on seeing the public announcement.
Mistake 2 — Filing the wrong form. Operational creditors who file Form C (financial creditor’s form) or financial creditors who file Form F create confusion — and may find their claim reclassified. Use the correct form for your category.
Mistake 3 — Claiming the wrong amount. The claim must reflect the amount as of the insolvency commencement date. Overstating or understating the amount — either through arithmetic error or by including post-commencement invoices — results in partial admission.
Mistake 4 — Filing without adequate documentation. A claim form without supporting documents is an unsupported claim. RPs verify claims against books of accounts. Without your own documentation, the RP has no basis to admit the claimed amount.
Mistake 5 — Not including MSME compound interest. If you are a registered MSME — you are entitled to compound interest at 3x the RBI bank rate on unpaid dues. Many MSMEs file claims for only the principal outstanding — missing the significant additional amount they are legally entitled to.
Mistake 6 — Not monitoring the CIRP proceedings after filing. Filing the claim is the beginning — not the end. Monitor the resolution plan when it is circulated. Ensure operational creditors are being offered at least liquidation value. Challenge any plan that under-compensates your class before NCLT approves it.
💼 How LegalFund Funds CIRP Claims Participation
For many creditors — the moment their debtor enters CIRP, they are already under financial stress from non-payment. Finding additional funds to engage a lawyer for claims filing, CoC participation, resolution plan review, and potential challenges feels impossible.
LegalFund funds the complete creditor-side CIRP journey on a non-recourse basis:
✅ Claims documentation preparation and filing support ✅ Legal representation if the claim is challenged or under-admitted ✅ CoC participation for financial creditors — attending meetings, reviewing resolution plans ✅ Resolution plan challenge applications where the plan under-compensates creditors ✅ Liquidation proof of debt filing and distribution proceedings
You pay only from the recovery. If CIRP produces no recovery — you owe nothing.
For our complete insolvency funding framework: Insolvency Cases & Litigation Funding — Recover Money from Bankrupt Debtors
For what cases qualify for LegalFund’s funding: What Cases Qualify for Litigation Finance?
For commercial litigation funding generally: Commercial Litigation Funding India
Submit your case: legalfund.in/contact — free expert review in 10 days.
❓ Quick FAQs
Q: What happens if I miss the 30-day claims deadline? A: Regulation 12(2) technically permits late claims before the resolution plan is approved — but the RP has discretion to reject them, and NCLT courts have been inconsistent in condoning delays. If you have missed the deadline, immediately file the claim anyway with an explanation of the delay, and simultaneously apply to NCLT for condonation of delay citing sufficient cause. Engage a lawyer immediately — this is time-critical.
Q: Can I file a claim if I don’t have any written contract with the debtor? A: Yes — operational creditors without formal contracts can file claims based on other documentary evidence: delivery challans, purchase orders, email correspondence, bank payment records, and GST records. The absence of a formal contract does not invalidate the claim, but strong corroborating documentation is essential.
Q: What if the RP admits my claim at a lower value than I filed? A: You can challenge the partial admission before NCLT by filing an application challenging the RP’s decision — supported by the documents establishing the full claimed amount. Do this promptly — delays in challenging incorrect admissions can affect your rights in subsequent stages.
Q: As an MSME, do I get priority treatment in CIRP? A: Not exactly priority in the Section 53 waterfall — operational creditors (which most MSMEs are) rank 5th in the distribution priority. However, the MSMED Act entitles MSMEs to compound interest at 3x RBI bank rate on unpaid dues — which significantly increases the total claim amount. Include this interest calculation in your Form F claim. The resolution plan must offer operational creditors at least their liquidation value.
Q: Can LegalFund fund my claim filing and CIRP participation? A: Yes — for eligible cases where the claim value and recovery prospects justify funding. LegalFund funds claims filing support, legal representation in claim challenges, CoC participation, and resolution plan challenges. Submit at legalfund.in/contact.
Q: What if the resolution plan offers operational creditors zero — can I challenge it? A: Yes — under Section 30(2)(b) of the IBC, the resolution plan must offer operational creditors at least what they would receive in liquidation. A plan that offers operational creditors nothing (or less than liquidation value) is legally challengeable before NCLT before the plan is approved. File the objection before NCLT approves the plan — post-approval challenges are significantly harder.
💡 Final Thought
The CIRP claims process is simple in structure but unforgiving in execution. The right form, the right documents, the right amount, and the right deadline — these four things determine whether your claim is admitted and protected in the resolution process or lost entirely.
Arvind had a valid, documented claim for ₹1.12 crore. He lost it to an 11-day delay that nobody thought to prevent.
The 30-day window from the public announcement is absolute. Mark it the moment you learn your debtor has entered CIRP. File the claim the next day — not the 29th day.
And if the cost of engaging counsel for the claims process, CoC participation, and resolution plan review feels prohibitive — that is exactly the gap LegalFund fills.
Your claim deserves to be in that process. File it on time. Fund it if you need to.
👉 Submit your case at legalfund.in/contact — free expert review in 10 days.
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