PGIRP form filing timelines extended, with delayed submission penalties deferred and accuracy obligations reinforced for insolvency professionals.
The filing timelines for electronic PGIRP forms used to monitor insolvency resolution processes for personal guarantors to corporate debtors are extended. The last date for submission of all applicable forms is moved to 30 September 2026, and penalties for delayed submission or modification will apply only after that date. Insolvency professionals must ensure that information furnished in the forms is accurate, truthful, complete, and consistent with supporting documents.

Valuation documentation and coordinated fair value assessment under insolvency law require transparent reports, asset-specific inputs, and integrated business synergies.
Valuation under the Insolvency and Bankruptcy Code, 2016 must be supported by comprehensive documentation, transparent reasoning, and prescribed report contents so that valuation reports are consistent, professional, comparable, and reliable. Registered valuers must maintain written records of communications, working papers, alternative methodologies considered, data and inputs evaluated, risks and biases identified, professional judgement applied, and quality control procedures, together with material substantiating the valuation process and conclusions reached.

Information utility reporting formats standardised for registration, debt submission, default records and dispute notices under insolvency rules.
Formats notified for applications, registration certificates and information submissions under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 cover the operational forms to be used by registered information utilities, users, insolvency professionals and related entities. The circular specifies Form A for application or renewal of registration as an information utility, Form B for certificate of registration, Form C for submission of information by a user, Form D for record of default, and Form E for information of dispute. It also prescribes the principal data fields and supporting particulars required in each form.

Claim filing format under insolvency regulations requires identity details, loss explanation, computation, and notarised verification above threshold.
The Board has notified a prescribed format for filing claims under regulation 14(3) of the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. The form applies to a claim under an order issued under section 220(4) of the Code and requires the claimant's name and address, identity details, bank particulars, explanation of loss, computation of loss, and verification. If the claim exceeds Rs. 10,000, the verification must be made before a Notary for submission of the claim.

Complaint filing format notified for insolvency grievance handling, detailing required particulars, evidence, fee, confidentiality, and verification.
The Insolvency and Bankruptcy Board of India notifies the prescribed format for filing complaints under the grievance and complaint handling framework. The annexed form seeks details of the complainant and any authorised representative, the service provider or associated person complained against, the alleged contravention, the resulting suffering, supporting evidence, redress sought, timeliness of the complaint, fee payment, confidentiality, attached documents, and verification.

Voluntary liquidation process forms specified for claims, compliance reporting, deposits, withdrawals and termination intimation.
Formats under the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 are specified for the public announcement, proof of claim forms for different classes of stakeholders, deposit and withdrawal of unclaimed dividends and undistributed proceeds, the compliance certificate, and intimation for termination of voluntary liquidation proceedings. The annexed forms prescribe the particulars, supporting documents, affidavits, verifications, process details, timelines, compliance disclosures, and other information to be furnished in voluntary liquidation proceedings.

Pre-packaged insolvency process formats standardised for consents, creditor lists, claims, resolution plans and compliance reporting.
Specifies prescribed formats under the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021, as amended, for use in the pre-packaged insolvency resolution process. The formats cover written consent of insolvency professionals, list of creditors, approval of appointment and initiation, declarations by directors or partners, declaration regarding avoidance transactions, report of the insolvency professional, public announcement, list of claims, invitation for resolution plans, compliance certificate, and applications for termination or vesting of management with the resolution professional.

Liquidation process forms prescribed for claims, progress reporting, security interest intimation, and compliance filings under liquidation regulations.
Formats are specified for use under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, as amended. The circular prescribes the forms to be used for key liquidation steps and filings, including written consent to act as liquidator, public announcement, quarterly progress report, proof of claim forms, intimation of decision on security interest, compliance certificate, deposit of unclaimed dividends or undistributed proceeds, and withdrawal from the Corporate Liquidation Account. Stakeholders may use the corresponding claim forms notified under the CIRP Regulations for filing claims in liquidation.

Insolvency resolution formats for personal guarantors prescribe consent, creditor claim, and proxy forms for creditor meetings.
Formats for the insolvency resolution process of personal guarantors to corporate debtors are specified under the Insolvency and Bankruptcy Board of India regulations as amended, and three annexed forms are prescribed: Form A for written consent to act as resolution professional, Form B for submission of claim with proof by a creditor, and Form C for proxy appointment at a meeting of creditors. The forms set out the required disclosures, creditor particulars, security details, voting-related election on enforcement of security, and authorisation for proxy attendance and voting.

Insolvency resolution process formats standardised for claims, public announcements, resolution plans, and compliance under corporate insolvency rules.
Formats under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 are specified by circular for use in corporate insolvency resolution process matters. The circular prescribes notified formats for public announcement, written consent to act as resolution professional or authorised representative, list of assets and records, proof-of-claim forms for different classes of creditors, withdrawal of CIRP, invitation for expression of interest, two-stage approval of resolution plan, and the compliance certificate.

Bankruptcy process forms for personal guarantors: prescribed consent and proxy formats govern trustee appointment and creditor voting.
Formats are specified for use under the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, as amended. The circular identifies the annexed formats for the relevant regulatory requirements. Form A is the written consent to act as bankruptcy trustee under regulation 3(3), and Form B is the proxy appointment form under regulation 26(2) for a creditor to appoint a proxy to attend and vote at a committee meeting.

International Valuation Standards notified for insolvency valuations under the Code across resolution, liquidation, and bankruptcy processes.
The Insolvency and Bankruptcy Board of India notifies International Valuation Standards issued by the International Valuation Standards Council as the applicable valuation standards for all valuations conducted under the Insolvency and Bankruptcy Code, 2016 and the regulations made thereunder. The circular applies to corporate insolvency resolution, liquidation, voluntary liquidation, pre-packaged insolvency resolution, and bankruptcy of personal guarantors, and remains effective from the date of issue until further orders.

Monitoring of personal guarantor insolvency processes requires electronic filing of specified forms within prescribed timelines and compliance obligations.
The Board requires Resolution Professionals to file stage specific electronic Forms (PGIRP 1 to PGIRP 6) on its portal for insolvency resolution processes of personal guarantors, with DSC/e signature and OTP authenticated modification capability. Each Form must be submitted within the prescribed timeline following the relevant event, with templates and mandatory document uploads provided. RPs bear sole responsibility for timely, complete and accurate filing; non compliance or inaccurate filings may attract Board actions including refusal to issue or renew Authorisation for Assignment. A transitional period before penalties is specified, and technical support and FAQs are available.

Revised electronic LIQ forms launched for liquidation reporting, with defined timelines, correction utility, and temporary penalty moratorium.
The Board has launched revised electronic liquidation forms LIQ 1 to LIQ 4 with defined filing timelines and scope, to be filed exclusively on the Board's electronic platform using Board provided credentials and DSC/e signature. The forms reduce duplication through auto population, include an OTP authenticated modification utility for corrections (with no fee if corrected before the form's due date), and a penalty moratorium for delayed filings during January-March 2026; noncompliance or inaccurate filings attract liability under applicable provisions.

Format for Statement of Beneficial Ownership and notarised Affidavit required with every resolution plan under regulation 38(3A).
The circular prescribes mandatory formats: Annexure 1 for the Statement of Beneficial Ownership requiring PRA details and, for each Beneficial Owner, name, tax identifier, nationality, address, manner of ownership/control and documentary evidence; Annexure 2 for a notarised Affidavit by an authorised signatory declaring whether the PRA is eligible for the section 32A benefit with a brief factual basis. The Resolution Professional must ensure these documents form part of the plan submitted to the Committee of Creditors and filed under section 30(6).

CIRP form filing: Rs.500 per form per month applies for delayed submissions after 31 Dec 2025, excluding GST.
A portal-based Modification Utility allows Insolvency Professionals to correct submitted CIRP forms via OTP authentication; modifications made before a form's due date do not attract a fee because fee computation starts only after the last due date. For forms due on or before 31 December 2025, submissions after that date require a fee of Rs.500 per form for each calendar month of delay until submission, excluding GST.

Due diligence under Section 29A: RPs must verify applicant eligibility and present detailed compliance notes to the creditors.
The circular directs Resolution Professionals to verify compliance with Section 29A by ensuring Form G disclosures, Expression of Interest undertakings, affidavits with resolution plans, RP due diligence under Regulation 36A(8), and attachment of a Due Diligence Certificate to Form H, and to place a detailed note on Section 29A compliance before the Committee of Creditors with recorded deliberations.

Restitution of ED-attached assets: IPs must file an undertaking setting use limits, reporting, disclosures, and ED cooperation.
In cases where Enforcement Directorate attachment affects corporate debtor assets, Insolvency Professionals should apply under sections 8(7) or 8(8) of PMLA and file the prescribed Undertaking. The Undertaking bars sale or use of restituted assets to ineligible or accused parties, mandates quarterly reports to the Special Court on asset status, monetisation and distributions, requires disclosure of attached properties in Information Memoranda/auction notices, and commits the IP to cooperate with the ED, including document production (with protections for commercially sensitive materials) until approval of a resolution plan or dissolution order.

Withdrawal of Form IP-1: reporting shifted to the IBBI Assignment Module and revised CP reporting framework for insolvency processes.
The circular withdraws the requirement to submit Form IP-1 for assignments under the Insolvency and Bankruptcy Code, 2016, noting that IP-1 has been superseded by mandatory reporting through the IBBI electronic portal Assignment Module and a revised reporting framework (CP-1 to CP-5) which now governs reporting obligations of Insolvency Professionals across corporate insolvency, liquidation, voluntary liquidation and personal-guarantor processes.

CIRP reporting reform: consolidated CP-1 to CP-5 forms and mandatory monthly electronic filing with specified timelines.
The IBBI has replaced nine CIRP reporting forms with five consolidated forms CP-1 to CP-5, established a standard monthly reporting cycle, prescribed scopes and timelines for each form, mandated electronic filing via the IBBI platform with DSC/e-signature, set transitional rules for ongoing and admitted CIRPs including extended deadlines to 30 September 2025 and first CP-5 by 10 July 2025, and allowed a no-penalty period for delayed filings during July-September 2025. The circular is issued under section 196(1)(aa) of the IBC.