Insolvency Resolution Professionals Must Now Use Detailed Compliance Certificate Template Under Amended CIRP Regulations

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....The IBBI has issued a notification amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016, specifically modifying Schedule-I, Form H (Compliance Certificate). The amendment introduces a comprehensive template for resolution professionals to provide detailed information about the corporate insolvency resolution process (CIRP), including key dates, resolution plan details, stakeholder information, realisable amounts, and compliance with various legal provisions. The new form requires extensive documentation and certification of compliance with IBC regulations, ensuring greater transparency and standardization in the insolvency resolution process. The amendment takes effect from the date of its publication in the Official Gazette.....