TaxTMI 
TaxTMI 
TaxTMI 
COMPLIANCE CERTIFICATE-Regulation 39(4)-Insolvency Resolution Process for Corporate Persons
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....ive Resolution Applicants 11 Date of Invitation of Resolution Plan 12 Last Date of Submission of Resolution Plan 13 Date of submission of Resolution Plan to the RP 14 Date of placing the Resolution Plan before the CoC 15 Date of Approval of Resolution Plan by CoC 16 Date of Filing of Resolution Plan with Adjudicating Authority 17 Date of Expiry of 180 days of CIRP 18 Date of each order extending/excluding the period of CIRP on request filed by RP 19 Date of Expiry of Extended Period of CIRP 20 Fair Value 21 Liquidation value 22 Number of Meetings of CoC held 1B. (i) Whether Application for approval of Resolution Plan filed within 180 days of CIRP initiation - Y/N (ii) Number of days beyond 180 days taken for filing application for resolution plan_____ (iii) Reasons for delay ____________ 2. I hereby certify that- (i) the said Resolution Plan complies with all the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC/Code), the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regula....
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.... favour of Resolution Plan (pls attach copy of minutes approving resolution plan) 5. Details of implementation of resolution plan: Sl. No. Particulars Description 1. Amount of Performance Guarantee furnished by SRA (in Rs.) and its validity (attach document) 2. Source of funds (in brief) 3. Capital restructuring and management of CD post approval of resolution plan (in brief including shareholding proposed to be transferred in favour of SRA) 4. Term and implementation of plan (in brief) 5. Details of monitoring committee (in brief) 6. Effective date of resolution plan implementation 6. The list of financial creditors of the CD being members of the CoC and distribution of voting share among them is as under: Sl. No. Name of Creditor Voting Share (%) Voting for Resolution Plan (Voted for / Dissented / Abstained) 7A. Realisable amount: Sl. No. Particulars Description 1. Total Realisable amount under the plan (In case of real estate CDs, provide the monetary value of flats etc. given to al....
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....onal. 12. Status of Preferential, Undervalued, Fraudulent and Extortionate transactions and how these are dealt in the resolution plan, if any Sl No Type of Transaction Amount (Rs.) Date of Filing with Adjudicating Authority Date of Order of the Adjudicating Authority Brief of the Order How it is dealt in resolution plan 1 Preferential transactions u/s 43 2 Undervalued transactions u/s 45 3 Extortionate credit transactions u/s 50 4 Fraudulent transactions u/s 66 5. Combination of PUFE transactions Total 13. If resolution plan submitted by suspended director/ promoter of CD, any PUFE applications against the suspended directors are pending, if so the details of the same. 14. Details of other IAs pending against the Corporate Debtor: Filing No. Date of Application Applicant(s) name Respondent (s) name Amount Involved, if any Issue involved (in brief)  ....
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....Authority Section 30(1) The Resolution Applicant has submitted an affidavit stating that it is eligible as per Code Section 30(2) The Resolution Plan- (a) provides for the payment of insolvency resolution process costs (b) provides for the payment to the operational creditors (c) provides for payment to the financial creditors who did not vote in favour of the resolution plan (d) provides for the management of the affairs of the corporate debtor (e) provides for the implementation and supervision of the resolution plan (f) does not contravene any of the provisions of the law for the time being in force Section 30(4) The Resolution Plan (a) is feasible and viable, according to the CoC (b) has been approved by the CoC with 66% voting share Section 31(1) The Resolution Plan has provisions for its effective implementation plan, according to the CoC Regulation 38 (1) The amount due to the operational creditors under the resolution plan has been given priority in payment over financial creditors Regulation 38(1A) The resolution plan includes a statement a....
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....red Financial Creditors 2 Other Secured Financial Creditors 3 Dissenting Unsecured Financial Creditors 4 Other Unsecured Financial Creditors 5 Operational Creditors Government Workmen Employees ..... 6 Other Debts and Dues Total *If there are sub-categories in a category, please add rows for each sub-category. # Amount provided over time under the Resolution Plan and includes estimated value of non-cash components. It is not NPV." 3. Inserted vide Notification No. IBBI/2019-20/GN/REG040 dated 24-01-2019 4. Substituted vide NOTIFICATION No. IBBI/2019-20/GN/REG048 dated 25-07-2019 before it was read as "Regulation 38 (1) Whether the Resolution Plan identifies specific sources of funds that will be used to pay the - (a) insolvency resolution process costs? (b) liquidation val....
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....45, 50 or 66, before the one hundred and fifteenth day of the insolvency commencement date, under intimation to the Board? " 10. Inserted vide Notification No. IBBI/2021-22/GN/REG075 dated 14-07-2021 11. Inserted vide Notification No. IBBI/2023-24/GN/REG106 dated 18-09-2023 12. Substituted vide Notification No. IBBI/2023-24/GN/REG106 dated 18-09-2023 before it was read as, "5[Regulation 36 (1) Submission of Information Memorandum to CoC T+54 ] Regulation 36A Invitation of EoI T+75 Publication of Form G T+75 Provisional List of Resolution Applicants T+100 Final List of Resolution Applicants T+115" 13. Substituted vide F. No. IBBI/2025-26/GN/REG124 dated 03-04-2025 before it was read as, "1[FORM H COMPLIANCE CERTIFICATE (Under Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 I, [Name of the resolution professional], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board with registration number [registrati....
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....Plan has been approved by [state the number of votes by which Resolution Plan was approved by CoC] % of voting share of financial creditors after considering its feasibility and viability and other requirements specified by the CIRP Regulations. (iv) The voting was held in the meeting of the CoC on [state the date of meeting] where all the members of the CoC were present. or I sought vote of members of the CoC by electronic voting system which was kept open at least for 24 hours as per the regulation 26. [strike off the part that is not relevant] 5. The list of financial creditors of the CD [state the name of CD] being members of the CoC and distribution of voting share among them is as under: Sl. No. Name of Creditor Voting Share (%) Voting for Resolution Plan (Voted for / Dissented / Abstained) 6. The Resolution Plan includes a statement under regulation 38(1A) of the CIRP Regulations as to how it has dealt with the interests of all stakeholders in compliance with the Code and regulations made thereunder. 11[6A. Minutes of the committee meeting relating to discussion ....
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....lan Compliance (Yes / No) 25(2)(h) Whether the Resolution Applicant meets the criteria approved by the CoC having regard to the complexity and scale of operations of business of the CD? Section 29A Whether the Resolution Applicant is eligible to submit resolution plan as per final list of Resolution Professional or Order, if any, of the Adjudicating Authority? Section 30(1) Whether the Resolution Applicant has submitted an affidavit stating that it is eligible? 8[Section 30(2) Whether the Resolution Plan- (a) provides for the payment of insolvency resolution process costs? (b) provides for the payment to the operational creditors? (c) provides for the payment to the financial creditors who did not vote in favour of the resolution plan? (d) provides for the management of the affairs of the corporate debtor? (e) provides for the implementation and supervision of the resolution plan? (f) contravenes any of the provisions of the law for the time being in force? ] Section 30(4) Whether the Resolution Plan (a) is feasible and viable, according to the CoC? (b) has been approved by the CoC with....
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....ecessary T+23 Regulation 17(1) Filing of Report Certifying Constitution of CoC T+23 Section 22(1) and regulation 17(2) First Meeting of the CoC T+30 Regulation 35A Determination of fraudulent and other transactions T+115 Regulation 27 Appointment of two Registered Valuers T+47 12[Regulation 36(1) Submission of Information Memorandum to CoC T+95 Regulation 36A Invitation of EoI T+60 Publication of Form G T+60 Provisional List of Resolution Applicants T+85 Final List of Resolution Applicants T+100] Regulation 36B Issue of Request for Resolution Plan, which includes Evaluation Matrix and Information Memorandum to Resolution Applicants T+105 Section 30(6) / Regulation 39(4) Submission of CoC approved Resolution Plan T+165 Section 31(1) Approval of Resolution Plan T=180 11. The time frame proposed for obtaining relevant approvals is as under: Sl. No. Nature of Approval Name of applicable Law Name of Authority who will grant Approval When to be obtained 1 2....