Section 103 of IBC: Registering of Claims by Creditors
Section 103 of the Insolvency and Bankruptcy Code, 2016 explains how creditors register their claims with the resolution professional during an insolvency resolution process under Part III. It specifies permitted communication methods and requires prescribed creditor particulars.
What does Section 103 provide?
Section 103 is titled "Registering of claims by creditors". It contains two subsections governing the manner of registration and the additional information a creditor must supply. It follows the public notice issued under Section 102 after admission of an insolvency application under Section 100.
Section 103(1): How creditors register claims
Under subsection (1), creditors must register their claims with the resolution professional by sending details of the claims through any of these channels:
- Electronic communication, such as the method or address specified in the public notice;
- Courier;
- Speed post; or
- Registered letter.
The provision recognises both electronic and physical transmission. Creditors should follow the instructions and contact particulars in the relevant Section 102 notice and retain proof of submission or delivery.
Section 103(2): Personal information and prescribed particulars
In addition to the claim details under subsection (1), a creditor must give the resolution professional personal information and such particulars as may be prescribed. The precise documentation and form requirements should be checked against the rules applicable to the particular debtor and proceeding.
Practical supporting materials may include creditor identification and contact information, the amount and basis of the claim, relevant loan or guarantee documents, account statements, evidence of security, and records of payments. These are examples of materials that may support verification; they are not an exhaustive statutory checklist stated in Section 103 itself.
Time limit for submitting a creditor's claim
Section 102(1) requires the Adjudicating Authority to issue public notice within seven days of its Section 100 order, inviting creditors to submit claims within 21 days of issue of that notice. Section 103 describes how the claims are registered; it does not independently establish a different 21-day period.
| Stage | Relevant provision | Requirement |
|---|---|---|
| Admission of insolvency application | Section 100 | Adjudicating Authority decides admission or rejection. |
| Public notice | Section 102(1) | Notice issued within seven days of the Section 100 order. |
| Claim submission window | Section 102(1) | Creditors invited to lodge claims within 21 days of the notice's issue. |
| Registration method | Section 103(1) | Electronic communication, courier, speed post or registered letter. |
| Additional particulars | Section 103(2) | Personal information and prescribed particulars. |
| List of creditors | Section 104 | Resolution professional prepares the list using the claims received and information about the debtor's affairs. |
Practical steps for creditors
- Locate the Section 102 public notice. Confirm the resolution professional's name, contact details and the stated last date.
- Identify the claim. State the amount due, underlying transaction, relevant dates and any security or guarantee.
- Compile evidence. Attach available contracts, statements, invoices, judgments or other records relevant to the debt.
- Provide required particulars. Use the prescribed form and supporting information applicable to the proceeding.
- Submit by an authorised method. Use electronic communication, courier, speed post or registered letter as contemplated by Section 103(1).
- Retain confirmation. Keep transmission records, tracking details and copies of the documents sent, and respond to verification requests.
Important legal terms
Creditor
Under Section 3(10) of the Code, a creditor is a person to whom a debt is owed and includes a financial creditor, an operational creditor, a secured creditor, an unsecured creditor and a decree-holder.
Debt and claim
Section 3(11) defines debt as a liability or obligation in respect of a claim due from any person and includes financial and operational debt. Section 3(6) defines claim broadly to cover specified rights to payment and rights to remedies for breach of contract where the breach gives rise to a right to payment, whether or not reduced to judgment, fixed, disputed or secured.
Resolution professional
The resolution professional is the insolvency professional appointed in accordance with the relevant provisions of Part III to perform statutory functions, including receiving creditors' claims and preparing the list of creditors.
Adjudicating Authority
The appropriate forum depends on the debtor and applicable provisions. For personal guarantors to corporate debtors, Section 60 addresses jurisdiction of the National Company Law Tribunal (NCLT), subject to the statutory framework and judicial interpretation.
Applicability and legal context
Section 103 belongs to Part III, Chapter III of the IBC. Provisions relating to the insolvency resolution and bankruptcy of personal guarantors to corporate debtors were brought into force from 1 December 2019. This does not mean that all Part III provisions have been commenced for every individual or partnership firm. The applicable commencement notifications, rules and regulations should be checked before relying on a procedure for another category of debtor.
For personal guarantor cases, consult the IBBI rules and the IBBI regulations, including the framework concerning insolvency resolution of personal guarantors to corporate debtors, alongside the Code.
Related sections and next steps
Section 102 provides for publication of the notice inviting claims; Section 103 governs registration; and Section 104 provides for preparation of the list of creditors. The repayment-plan process is addressed in subsequent provisions, including Section 105.
Read the full Insolvency and Bankruptcy Code, 2016 overview for the broader statutory framework.
Frequently asked questions
Can a creditor submit a claim electronically?
Yes. Section 103(1) expressly permits submission by electronic communication, as well as courier, speed post or registered letter.
What is the time limit to register a claim?
Under Section 102(1), the public notice invites claims within 21 days of its issue. The deadline in the particular notice should be checked carefully.
Does Section 103 itself specify a claim form?
No. Section 103(2) requires personal information and prescribed particulars. Applicable rules and forms must be consulted for the specific proceeding.
What happens after claims are registered?
Section 104 requires the resolution professional to prepare a list of creditors on the basis of the claims received and information regarding the debtor's affairs.
Official legal references
- Insolvency and Bankruptcy Code, 2016 - India Code (official PDF)
- India Code - IBC legislative record
- Insolvency and Bankruptcy Board of India - legal framework
- IBBI - rules
- IBBI - regulations
- IBBI - circulars
Legal information updated for October 2026. This article is for general information and is not a substitute for professional advice. Always consult the current law, commencement notifications and applicable procedural rules.