Insolvency and Bankruptcy Board of India vide circular dated 1st September, 2023 has issued clarification regarding Filing of CIRP Forms for the purpose of monitoring corporate insolvency resolution processes and performance of insolvency professional entities under the Insolvency and Bankruptcy Code, 2016 and the regulations made thereunder.
The facility for submitting the corporate insolvency resolution process forms (CIRP Forms) was previously not made available to the entities acting as IPs and hence, these Insolvency Professional Entities(IPE) were unable to submit the relevant CIRP Forms on the website of the IBBI for the processes/ assignments handled by them.
In view of the above, the facility for submitting the CIRP Forms has been now extended to entities acting as IPs also. These IPEs shall access the said platform with the help of a unique username and password provided by the IBBI and authorize an IP handling the process to upload/ submit the CIRP Forms. Thereafter, the authorized IP shall submit the CIRP Forms along with relevant information and records through his username and password as provided to him in capacity of individual IP.
To facilitate submission of forms for all assignments handled by these IPEs through the facility being introduced now, CIRP forms filed till 30th September, 2023 shall not attract any fee.