IBBI platform adds OTP tool to fix CIRP form defects; fees start after due date, Rs 500/month late.

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....A modification utility is introduced on the IBBI electronic platform enabling insolvency professionals to rectify deficiencies in already submitted CIRP forms using OTP-based authentication; where a form is filed and modified within the applicable due date, no fee is payable because fee computation under Regulation 40B(4) begins only after the last due date. For CIRP forms due on or before 31 December 2025 that are submitted after that date, including through correction or updation, a delayed filing fee is prescribed at Rs. 500 per form (excluding GST) for each calendar month of delay up to the date of submission, thereby commencing levy for post-31 December 2025 delayed submissions.....