Chapter II - Corporate Insolvency Resolution Process
Section 15
Section 15: public announcement of CIRP
When a corporate insolvency process is admitted, its public announcement identifies the debtor, tells creditors where and when to submit claims, and names the interim resolution professional responsible for receiving them.
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This article is for general information. Refer to the Insolvency and Bankruptcy Code, 2016 official text for the official provisions. If you need professional advice for your situation, contact Bizeneed.
Statutory text
Bare law
(1) The public announcement of the corporate insolvency resolution process under the order referred to in section 13 shall contain the following information, namely:—
(a) name and address of the corporate debtor under the corporate insolvency resolution process;
(b) name of the authority with which the corporate debtor is incorporated or registered;
(c) the last date for submission of claims, as may be specified;
(d) details of the interim resolution professional who shall be vested with the management of the corporate debtor and be responsible for receiving claims;
(e) penalties for false or misleading claims; and
(f) the date on which the corporate insolvency resolution process shall close, which shall be the one hundred and eightieth day from the date of the admission of the application under sections 7, 9 or section 10, as the case may be.
(2) The public announcement under this section shall be made in such manner as may be specified.
Introduction
Section 13 directs that an announcement be made immediately after appointment of the interim resolution professional. Section 15 specifies its statutory contents. The manner of publication and claims procedure come from current IBBI regulations; the particular announcement provides the relevant claim date and contact information.
Key takeaways
Identify the proceeding
The announcement states the debtor's name and address and its incorporation or registration authority.
Tell creditors how to claim
It gives the last date for claims and the interim resolution professional's details, and states the penalties for false or misleading claims.
State the initial process date
It states the 180th day from admission as the process close date under Section 15(1)(f); any extension or other timeline consequence must be read under Section 12 and relevant orders.
Verify the debtor and admission
Match the announced debtor's identity and registered authority with the tribunal's admission order. A similar trading name is not enough to identify the affected legal entity.
Use the stated claim date and contact
Read the last date for submission and the interim resolution professional's details from the actual announcement. Preserve the records that support the amount and nature of the claim; current regulations govern the form and manner of submission.
Interpret the 180-day entry correctly
Section 15 requires an initial date 180 days after admission to appear in the announcement. It does not, by itself, settle extensions, exclusions or the final outcome of a particular CIRP.
Practical checklist
Do
- Locate the debtor's announcement and match it to the admission order.
- Record the stated last date for submitting a claim and the interim professional's contact details.
- Check current regulations and case orders before relying on a process-close date.
Avoid
- Do not send claim material to a similarly named but different debtor's proceeding.
- Do not assume the 180-day date in an initial announcement can never change.
Glossary
- Claim
- A right to payment or remedy for breach if that breach gives rise to a right to payment, as defined in Section 3(6).
- Interim resolution professional
- The insolvency professional appointed for the start of CIRP, who receives claims under the announcement.
Frequently asked questions
Where is the last date for submitting a claim shown?
Section 15(1)(c) requires it in the public announcement. Check the actual announcement and the applicable regulations for the submission process.
Does the 180-day date mean the case must end exactly then?
No. Section 15 specifies an initial announcement entry; the operation of the process timeline and any extension must be assessed under Section 12 and the case record.
Need help applying this provision to your situation?
Contact BizeneedLast updated 9 October 2026