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of <h1>Insolvency Professionals Must Retain CIRP Records: 8 Years for Electronic, 3 Years for Physical Documents.</h1> The Insolvency and Bankruptcy Board of India issued a circular mandating insolvency professionals to retain records related to the Corporate Insolvency Resolution Process (CIRP). Professionals must preserve electronic records for at least eight years and physical records for three years from the completion of the CIRP or related proceedings. The circular outlines specific records to be maintained, including appointment details, claims, creditor lists, and statutory filings. Records must be securely stored to prevent unauthorized access, with the professional responsible for producing them when required. This circular replaces a previous version with minor corrections.
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