Format for “Statement of Beneficial Ownership” and Affidavit under Regulation 38(3A) of the CIRP Regulations

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....ia (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, as notified on 23^rd December, 2025, inter alia mandates that every resolution plan must contain a statement of beneficial ownership and an affidavit declaring whether the resolution applicant is eligible or not eligible for the benefit under section 32A of the Code, in the specified formats. 2. In exercise of the above provision, the following formats are hereby specified: 2.1 Statement of beneficial ownership in the format enclosed at Annexure-1. 2.2 Affidavit in the format enclosed at Annexure-2 stating whether the Prospective Resolution Applicant is eligible or not eligible for the benefit of section 32A. 3. The Resolution Professional sh....

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....be provided with respect to every BO along with documentary evidence. (2)  "Beneficial Owner" shall be determined as per the provisions of sub-rule (3) of Rule 9 of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005. (3) Particulars of intermediate entities, including their jurisdictions (where applicable), shall also be included in the details regarding manner of ownership/control. Declaration I understand that this statement is being furnished in compliance with Regulation 38(3A)(a) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and that any falsification or misrepresentation herein may render the PRA liable to consequences unde....