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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 | CaseEase - Legal Intelligence Simplified

Regulation

Regulation 15

Text

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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.