Q: What is claim in IBC regime ?

Ans: Claims are a very important concept in IBC regime.

The Word ‘Claim’ has been defined in the code under section 3(6) . As per this section, the claim means a right to payment and also right to remedy. Thus claim comes into picture only if there is a right to payment and if no right to payment, no claim at all. Hence right to payment will underline the concept of claim whether such right is reduced to judgement, fixed, disputed, undisputed, legal, equitable, secured or unsecured. Similarly, the right to remedy also comes under the category of claim. The right to remedy will give to right to payment whether or not such right is reduced to judgement, fixed, disputed, undisputed, matured, unmatured, secured or unsecured .

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