Retention of records relating to Corporate Insolvency Resolution Process

Record retention obligations require insolvency professionals to preserve electronic and physical CIRP records for prescribed durations.

An insolvency professional must preserve CIRP records with electronic copies retained for at least eight years and physical copies of physical records for at least three years from the later of CIRP completion or conclusion of related proceedings; preservation covers any period the IP served as IRP or RP and specified categories of records necessary to give a complete account of the CIRP, stored securely and producible on demand under the Code and Regulations.