How-to · Insolvency · IBC
How to Submit a Claim as a Financial Creditor (2026)
When a company you have lent to is admitted into insolvency, your loan does not vanish, but you have to file a claim to be counted and, as a financial creditor, to take your seat on the Committee of Creditors. The committee is where the key decisions are made, so filing your claim correctly and on time is not just about recording the debt, it decides your voice in the process. This guide, for banks, NBFCs, bond holders and other lenders, sets out the exact form, the proof you need, the deadline, and what happens after you file. It is general information, not legal advice. Last verified October 2026.
- Form: file your claim in Form C under Regulation 8 of the IBBI (CIRP) Regulations, 2016.
- Filed with: the interim resolution professional named in the public announcement (Form A).
- Deadline: the last date stated in the public announcement, usually about 14 days from it.
- Cut off: the debt is computed as on the insolvency commencement date, with proof attached.
- The payoff: an admitted financial creditor sits on the Committee of Creditors with a voting share set by debt value; creditors in a class file Form CA through an authorised representative.
01The short answer
A financial creditor files its claim in Form C under Regulation 8 of the IBBI (Corporate Insolvency Resolution Process) Regulations, 2016, with the interim resolution professional (IRP) named in the public announcement. The claim is filed with proof, and the debt is computed as on the insolvency commencement date. The deadline is the last date stated in the public announcement, usually about 14 days from it.
Once verified, a financial creditor is admitted to the Committee of Creditors (CoC), with a voting share set by the value of its debt. That seat is why filing correctly matters: it is your voice on the resolution plan and the major decisions in the process.
02Are you a financial creditor
A financial creditor is owed a financial debt, money lent or raised against the time value of money. Typical financial creditors include:
- Banks and NBFCs that have given a loan or credit facility.
- Debenture and bond holders, and holders of other borrowings.
- Lessors under a finance lease, and parties owed amounts with the commercial effect of borrowing.
- Guarantee beneficiaries where the company is the guarantor of a financial debt.
This is different from an operational creditor, who is owed for goods or services. The distinction matters because financial creditors sit on the CoC and operational creditors generally do not. For the operational side, see how to submit a claim as an operational creditor.
03When and where to file
When a company is admitted, the IRP issues a public announcement in Form A, which names the IRP, gives the details, and states the last date for submitting claims, usually about 14 days from the announcement. That announcement is your trigger. Watch for it on the IBBI website, the company and the newspapers in which it is published.
File your Form C with the IRP, electronically where required, by the stated date. A late claim can still be considered in some situations, but it is at risk, so treat the deadline as real and file in time.
04The Form C claim, step by step
Form C asks you to set out your claim clearly:
- Your identity: name, address and identification number, with proof of incorporation if you are a body corporate.
- The financial debt: the total amount claimed, principal and interest, computed as on the insolvency commencement date.
- The basis of the debt: the loan or facility, the sanction and disbursal, and the default.
- Security held, if any, with details, because a secured creditor is treated differently in the waterfall.
- Supporting documents proving the debt.
Be precise on the amount and the computation date. An inflated claim or a wrong cut off date is the first thing the IRP will question when verifying.
05Proof you must attach
A claim is only as good as its proof. Attach the documents that establish the debt: the loan or facility agreement, the sanction letter and disbursal records, the statement of account showing the outstanding amount, any security documents, and the records of default, including an information utility record where available.
A financial creditor claim stands or falls on its proof. The Supreme Court has said a claim backed by proof should not be rejected merely because it used the wrong form.
The form is treated as directory, not a technical trap. The Supreme Court has held that a claim supported by proof should not be overlooked simply because it was submitted in the wrong form. What matters is that the debt and default are genuinely established. Even so, use the correct Form C and complete it properly, because clean proof speeds verification.
06What happens after you file
The IRP verifies your claim against the records and may ask for more documents or clarification. Once admitted, you become part of the Committee of Creditors, with a voting share set by the value of your admitted financial debt. The CoC then takes the central decisions in the process, including voting on the resolution plan.
Your voting share is your leverage, so an accurately admitted claim is important. For how the committee votes and decides, see how CoC voting shares and decisions work, and for how the plan the CoC votes on is approved, see how a resolution plan is approved under the IBC.
07Creditors in a class
Some financial creditors come as a class, such as home buyers in a real estate project or holders of deposits. They do not each sit on the committee directly. Instead they file in Form CA under Regulation 8A and are represented through an authorised representative, who votes on the committee on their behalf after taking their instructions.
So if you are an individual within a large class, your route is Form CA and your voice reaches the committee through the authorised representative. If you are a standalone financial creditor like a bank, your route is Form C and you sit on the committee yourself.
08Where Claw fits
Claw is an all-in-one legaltech platform for Indian advocates, law firms, and corporate legal teams, combining AI-based case search, an AI legal assistant (Legal GPT), case management, and compliance automation across all Indian courts and tribunals.
Filing and proving the claim is for you and your advisers, which Claw does not do. Where Claw helps is in catching the insolvency and tracking it. Claw, with ClawScore, finds and tracks a company insolvency across NCLT, NCLAT, the Insolvency and Bankruptcy Board of India and Ministry of Corporate Affairs records, with alerts and monitoring, across 9,102 courts, benches and forums, so a lender sees the public announcement and the claim deadline in time, and follows the committee and the resolution plan after. Its Legal GPT researches across 30 crore+ judgments, with Supreme Court decisions from 1950 and High Court decisions from 1990, so counsel can see how tribunals have treated claim verification, the form versus substance point and voting shares before. Results return in under 5 seconds, and Claw does not train its AI models on your documents. To check a borrower or opponent, run a case search across Indian courts by name. A clean result means nothing was found on the forums and date searched, namesakes are possible, and this is general information, not legal advice.
Related reading: how an operational creditor submits a claim and how CoC voting shares and decisions work.
09Sources and further reading
- Insolvency and Bankruptcy Board of India (CIRP Regulations and forms): ibbi.gov.in
- India Code (Insolvency and Bankruptcy Code, 2016): indiacode.nic.in
- Ministry of Corporate Affairs: mca.gov.in
- Claw: clawlaw.in
This guide is general information, not legal advice. The Code, the CIRP Regulations and the public announcement govern; confirm the current form and deadline before filing.
10Frequently asked questions
How does a financial creditor file a claim in insolvency?
By filing Form C under Regulation 8 of the IBBI (CIRP) Regulations, 2016 with the interim resolution professional named in the public announcement, with proof of the debt, by the last date stated in that announcement. The debt is computed as on the insolvency commencement date. Once verified, the financial creditor is admitted to the Committee of Creditors.
What is the deadline to file a financial creditor claim?
The last date stated in the public announcement made by the interim resolution professional in Form A, usually about 14 days from the announcement. A late claim can be considered in some situations but is at risk, so treat the stated date as the deadline and file in time to protect your seat on the Committee of Creditors.
What proof do I need to attach to Form C?
Documents that establish the debt and default: the loan or facility agreement, the sanction letter and disbursal records, the statement of account showing the outstanding amount, any security documents, and records of default including an information utility record where available. The Supreme Court has held a claim backed by proof should not be rejected merely for using the wrong form, but clean proof in the correct form speeds verification.
What does filing a claim get a financial creditor?
A seat on the Committee of Creditors once the claim is verified and admitted, with a voting share set by the value of the admitted financial debt. The committee takes the central decisions in the process, including voting on the resolution plan, so the voting share that flows from an accurate claim is the creditor main source of leverage.
What if I am part of a class of financial creditors?
Financial creditors in a class, such as home buyers or deposit holders, file in Form CA under Regulation 8A and are represented on the Committee of Creditors through an authorised representative who votes on their behalf after taking instructions. A standalone financial creditor such as a bank files Form C and sits on the committee itself.