Filing of Form CIRP 8 under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

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....IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) requires the resolution professional to form an opinion on transactions covered under sections 43, 45, 50 and 66 by 75th day, make determination on such transactions by 115th day, and file an application before the Adjudicating Authority by 135th day of the insolvency commencement date. Sub-regulation (1B) of regulation 40B of the CIRP Regulations requires the resolution professional to file Form CIRP 8 intimating details of his opinion and determination under regulation 35A, by 140th day of the insolvency commencement date. The Form CIRP 8 is required to be filed for all corporate insolvency resolution processes ongoing or commencing on or ....

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....Yes / No Yes / No Yes / No 2 In my determination under sub-regulation (2) of regulation 35A, the corporate debtor has been subjected to transactions covered under Yes / No Yes / No Yes / No Yes / No Yes / No 3 I have applied under sub-regulation (3) of regulation 35A to the Adjudicating Authority seeking relief in respect of transactions covered under Yes / No Yes / No Yes / No Yes / No Yes / No 2.  The details of transactions covered under sections 43, 45, 50, 66(1) and 66(2), as determined  by me, are as under: Sl. Covered under section(s) 43/45/50/66(1)/66(2) (Select more than one if the transaction is covered under more than one section) Date / period of t....