Filing of stakeholders lists must omit identification numbers; revised format to be filed within three days.
The circular removes the "Identification No." column from the stakeholder list format used for filings on the Board's electronic platform to prevent disclosure of sensitive personal information such as Aadhaar or PAN. Insolvency professionals must file the revised stakeholder list or any modification thereof on the electronic platform within three days of preparation. All other filing requirements and the prior circular's provisions remain unchanged except for this modification.

Filing of creditor lists must omit identification numbers; revised format to be filed within three days.
The Circular removes the "Identification No." column from the creditor list filing format to prevent publication of Aadhaar, PAN and other sensitive identifiers, and requires insolvency professionals to file the revised list or any modification on the Board's electronic platform within three days of its preparation, while other requirements of the earlier circular continue to apply.

Income tax NOC is not required during voluntary liquidation under the Insolvency and Bankruptcy Code, preserving time bound completion.
No Objection Certificate or No Dues Certificate from the Income Tax Department is not required as part of the voluntary liquidation process under the Insolvency and Bankruptcy Code and the Voluntary Liquidation Regulations; Section 178 of the Income tax Act is subject to the Code, and obtaining NOC/NDC would delay the time bound completion of liquidation.

Electronic platform for public notices centralises auction listings of liquidation assets and requires timely uploads upon publication.
Designates the Board's website as the electronic platform for hosting public notices of auctions of liquidation assets under the Liquidation Process Regulations and requires liquidators to upload every auction notice to that platform on the day of its publication in newspapers, in addition to other prescribed modes of publication; the direction is issued under section 196 of the Code for purposes of clause (5) of paragraph 1 of Schedule I of the Regulations.

Monetary penalties for insolvency professionals require agencies to adopt graded fines for specified professional contraventions.
IPAs must amend their bye laws to prescribe minimum and maximum monetary penalties and a graduated penalty regime for specified professional contraventions, enabling their Disciplinary Committees to impose fines for failures such as deficient disclosures, conflicts of interest, poor record keeping, improper claim handling, non compliance with adjudicatory directions, outsourcing duties, failure to appoint valuers, non cooperation with inspections, failures in public announcements and creditor notices, mishandling resolution applicants or plans, inaction on suspect transactions, defective contracts, and other bye law breaches; the circular requires incorporation of the amended disciplinary provision and is effective immediately.

Regulation 35A compliance: resolution professionals must file Form CIRP 8 reporting opinions and determinations within prescribed insolvency timelines.
Resolution professionals must form opinions and determinations on transactions potentially covered by avoidance and preferential provisions, and file Form CIRP 8 online reporting those opinions and determinations. The Form requires professional and corporate debtor identification, a checklist of covered transaction types, detailed particulars of each identified transaction (period, parties, beneficiaries, application date to the Adjudicating Authority and value), an assessment of potential loss to creditors, explanations for any failures to undertake the exercise, and attachments including loss workings and obstructing documents; it must be digitally signed, filed within the prescribed timeline, and accompanied by the applicable fee.

Committee of creditors request compels resolution professional to convene or place proposed matters when members reach prescribed voting threshold.
Where members representing the prescribed voting threshold request convening of a committee of creditors meeting, the resolution professional shall forthwith convene the meeting or place the proposing note on the agenda of a scheduled meeting; such request must include a note proposing matters or issues and relevant documents. Requests below the prescribed voting threshold must be considered expeditiously on merits by the resolution professional, who may then convene a meeting or place the note for consideration in an ensuing meeting. Notices must list matters, voting issues and relevant documents.

Delay reporting in CIRP: form requires periodic status filings when specified insolvency process activities miss prescribed deadlines.
The Board mandates filing Form CIRP 7 when specified CIRP activities remain incomplete by their prescribed dates: an initial filing within three days after the missed date and repeated every thirty days thereafter until completion, with only one form filed at a time. The form collects IP and corporate debtor details, identifies the delayed activity, lists categorical reasons for delay (including stays, non cooperation, late orders, or CoC matters), requires a brief narrative and upload of any relevant adjudicating authority order, and must be digitally signed by the IP.

Filing of stakeholder lists: liquidators must upload and update stakeholders on the IBBI electronic platform for public dissemination.
The amendment mandates that the liquidator shall file the list of stakeholders on the Board's electronic platform for dissemination, applicable to ongoing and new liquidations; the Board has provided a prescribed format and portal at www.ibbi.gov.in allowing multiple filings and updates. Insolvency professionals must file or update the stakeholder list in that format within three days of preparation/modification, with filings outstanding as of the circular due within 15 days, and are advised to use the same format when filing with the Adjudicating Authority.

Provision of application copy under Rule 9 enables online submission to the Board with an acknowledgement ID for records.
Applicants initiating insolvency resolution of a personal guarantor must provide the Board a copy of the application as mandated by Rule 9; the Board offers an online portal with a prescribed format capturing applicant and creditor details, corporate debtor and guarantor particulars, IRP/RP information, and a pdf upload, and issues an acknowledgement ID upon submission for record-keeping.

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.

Record retention obligations require insolvency professionals to preserve and produce CIRP records, maintaining secure electronic and physical archives.
The circular mandates that insolvency professionals preserve CIRP records in electronic form for an extended statutory period from completion of the CIRP or conclusion of related proceedings, and retain physical copies for a shorter statutory period; records must be stored securely, produced on demand, and preserved for the specific period of the CIRP handled by the IP. It lists categories of records to be maintained, including appointment, handover, admission, public announcement, CoC records, claims and verification, professional engagements and reports, information memorandum, official filings and orders, resolution plan processes, statutory filings, correspondence, process costs, and avoidance transaction records.