Reporting of status of ongoing corporate insolvency resolution processes (CIRPs) through Form CIRP 7

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....y Resolution Process for Corporate Persons) Regulations, 2016 ('CIRP regulations') provides a model timeline for carrying out various activities envisaged in a corporate insolvency resolution process (CIRP). 2. Regulation 40B of the CIRP regulations require an interim resolution professional (IRP) / resolution professional (RP) to file a set of forms (CIRP 1 to CIRP 6) within seven days of completion of specific activities to enable monitoring progress of CIRP. This implies that a Form (CIRP 1 to CIRP 6) would not be filed until the related activity is not completed for whatever reason. This makes monitoring of progress difficult. Regulation 40B of CIRP regulations require filing of Form CIRP 7 within three days of due date of compl....

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....), (g), (h), (k) of sub-section (1) of section 196 of the Insolvency and Bankruptcy Code, 2016, and regulation 40B of the CIRP Regulations. Yours faithfully, Sd/- (Dr. Kokila Jayaram) Deputy General Manager Email: [email protected]   Annexure-A Form CIRP 7 (To be submitted to the Board by the IRP/RP online when there are delays in specified activities during a CIRP) A. Details of IP 1. Name of IP 2. Registration Number B. Corporate Debtor/ Assignment 1. Name of Corporate Debtor - 2. CIN/LLPIN of Corporate Debtor - 3. Insolvency Commencement Date - 4. Capacity (IRP/RP): IRP, IRP acting as RP under section 16(5), RP 5. Date of appointment of IRP/RP - 6. Name of bench of Adjudic....