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    <title>Retention of records by Insolvency Professionals relating to CIRP under IBC</title>
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    <description>IBBI mandates that insolvency professionals preserve an electronic copy of all CIRP records for a minimum of eight years and a physical copy of physical records for a minimum of three years from the later of CIRP completion or conclusion of related proceedings. Preservation applies to the period the IP served as IRP or RP, and specified records include appointment documents, handing over/taking over, admission, public announcements, CoC records, claims, professional engagements and deliverables, information memorandum, filings and orders, resolution plan documentation, statutory filings, correspondence, cost records, and applications related to avoidance or fraudulent transactions. Records must be securely stored and produced on demand to the Board or inspecting authorities.</description>
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      <description>IBBI mandates that insolvency professionals preserve an electronic copy of all CIRP records for a minimum of eight years and a physical copy of physical records for a minimum of three years from the later of CIRP completion or conclusion of related proceedings. Preservation applies to the period the IP served as IRP or RP, and specified records include appointment documents, handing over/taking over, admission, public announcements, CoC records, claims, professional engagements and deliverables, information memorandum, filings and orders, resolution plan documentation, statutory filings, correspondence, cost records, and applications related to avoidance or fraudulent transactions. Records must be securely stored and produced on demand to the Board or inspecting authorities.</description>
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