Regulation 28

(1) A person may prove for a claim whose payment was not yet due on the 55 [ insolvency commencement date] and is entitled to distribution in the same manner as any other stakeholder. (2) Subject to any contract to the contrary, where a stakeholder has proved for a claim under sub-regulation (1), and the debt has not fallen due before distribution, he is entitled to distribution of the admitted claim reduced as follows- X/ (1+r) n where– (a) “X” is the value of the admitted claim; 55 Substituted by Notification No. IBBI/2026-27/GN/REG151, dated 01st June, 2026 (w.e.f. 02-06-2026). Before substitution, the words stood as under: “liquidation commencement date”.

(b) “r” is the closing yield rate (%) of government securities of the maturity of “n” on the date of distribution as published by the Reserve Bank of India; and (c) “n” is the period beginning with the date of distribution and ending with the date on which the payment of the debt would otherwise be due, expressed in years and months in a decimalized form.