Filing of Forms to monitor insolvency resolution processes for Personal Guarantors to Corporate Debtors under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder

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....olution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 provides that the resolution professional shall file the Forms, along with enclosures thereto, as notified by the Board through circular, as per the timelines stipulated against each Form. 3. To ease the compliance burden for Insolvency Professionals (IPs), a set of electronic forms has been developed by the Board to capture the details of the insolvency resolution process for personal guarantors. These forms are crucial for the process under the Insolvency and Bankruptcy Code (IBC), as they facilitate systematic and transparent record-keeping and seamless reporting. The key benefits of these forms include allowing resolution professionals to easily access and submit forms online, reducing delays and improving efficiency and minimizing the likelihood of errors and omissions, ensuring more accurate and reliable information. 4. An overview of these Forms is as per the Table below:  Form No. Period Covered and Scope Timeline PGIRP- 1 From Admission under Sec.94/ 95 till filing of report under section 99: This includes Amount of debt for which guarantee has been executed, d....

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....ique username and password provided by the IBBI and upload/submit the Forms, along with relevant information and records, after affixing DSC or e-signing. Further, timely filing of complete and accurate information along with records is the sole responsibility of the IP. 7. Modification utility is also available for these forms. The IP may use the modification utility on the portal to make the necessary modification, authenticated through the OTP-based process. 8. In order to facilitate IPs to familiarize themselves with these forms and resolve technical issue(s) that may arise, if any, penalties shall be levied for delayed submission or modification only after 30th June 2026. 9. It is directed that an IP shall file the applicable Forms through the electronic platform:  (a) Within the prescribed timeline, for all cases where an order under section 97 or section 100 is passed by the AA on or after the date of issuance of this circular.  (b) On or before 31st March 2026, in cases where the report under section 99 has been submitted but an order under section 100 has not yet been passed by the AA, as on the date of this circular.  (c)....

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....ion Professional vide the order of DRT or NCLT [auto fill], dated [mention date] in application number [auto fill] dated [date of appointment of RP - auto fill], under section 97 / 98 [radio button] of the Insolvency and Bankruptcy Code, 2016.  I declare that the contents of this form are true and correct to the best of my knowledge and belief, and nothing material has been concealed therefrom. *To be digitally signed/ e-signed by IP *IP registration number:              Date: Place:   FORM PGIRP 2A (To be submitted to the Board by the Resolution Professional on or before the 10th day of the subsequent month, after of order of rejection of application under section 100) A. Details of application 1. Date of order of rejection the AA under section 100 [date] 2. NCLT Bench Auto select from Form 1 3. Reason(s) for rejection Text B.  Copy of the order of the AA passed under section 100 [upload the document] Declaration I, [Name of RP - auto fill] having IP registration number [Registration no. - auto fill], was appointed as a Resolution Professional....

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.... India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019) Nature of application: IP to select from dropdown below: 1. Submission of repayment plan to AA - Do not display Table B 2. Where no repayment plan has been prepared by the debtor under section 105 of the Code and the resolution professional has filed an application before the Adjudicating Authority intimating the non-submission of a repayment plan to seek appropriate directions - Display only Table A & B.)   A. List of Creditors • Whether the resolution professional has prepared the list as per timeline mentioned in section 104  • If no, reasons  • Date of preparation of such list  Yes/No In case No - Remarks Date 4. Date of filing of list of creditors with the AA   5. Total no. of creditors Rs. 6. Total claim received  Rs. 7. Total claim admitted Rs. B. Details of application under Regulation 17B of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 Date ....

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....her AA approved / rejected / directed reconsideration of repayment plan by the creditors? Approved / rejected / directed reconsideration of repayment plan by the creditors  4. Date of submission of repayment plan to the AA after reconsideration by creditors    5. Date of order of AA on modified repayment plan   6. Whether AA approved / rejected the repayment plan? Approved / rejected  7. In case of rejection of repayment plan, reasons     C. Admitted claim and Proposed realisation under the approved Repayment Plan:  1. Total amount claimed   2. Total amount admitted   3. Realisable amount   4. Terms of payment to the creditors   5. Tenure of Repayment Plan   6. Resolution Process cost   D. Details of distribution of proceeds as per repayment plan:  Nature of Creditor Admitted Claim Amount under Plan Resolution Process cost     Secured Creditors     Workmen's Dues     unpaid  dues  owed  to employees     Statutory Du....

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....opy of Order of the AA discharging the personal guarantor [upload the document] Copy of Compliance Form as submitted before the AA [upload the document] Declaration I, [Name of RP - auto fill] having IP registration number [Registration no. - auto fill], was appointed as a Resolution Professional vide the order of DRT or NCLT [auto fill], dated [mention date] in application number [auto fill] dated [date of appointment of RP - auto fill], under section 97 / 98 [radio button] of the Insolvency and Bankruptcy Code, 2016.  I declare that the contents of this form are true and correct to the best of my knowledge and belief, and nothing material has been concealed therefrom.   *To be digitally signed/ e-signed by IP *IP registration number:              Date: Place: Change of RP is not covered anywhere in the forms. - new RP will add the assignment   FORM PGIRP 6 Periodical Report (To be submitted by the Resolution Professional on or before the 10th day of the subsequent month, on every quarterly from the date of admission of insolvency resolution application t....