The Insolvency and Bankruptcy Board of India (IBBI), through Circular No. IBBI/VL/97/2026 dated 2 June 2026, has specified standardized formats for various forms under the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, as amended by the Second Amendment Regulations, 2026. Exercising its powers under Sections 196 and 240 of the Insolvency and Bankruptcy Code, 2016, the Board notified ten forms covering critical stages of the voluntary liquidation process. These include forms for public announcements, proofs of claim by operational creditors, financial creditors, workmen and employees, authorized representatives, and other stakeholders. The circular also prescribes formats relating to compliance certificates, deposits of unclaimed dividends and undistributed proceeds into the Corporate Voluntary Liquidation Account, withdrawals from the account, and intimations for termination of voluntary liquidation proceedings. By introducing uniform documentation standards, the circular aims to enhance transparency, procedural consistency, efficiency, and regulatory compliance while facilitating smoother administration of voluntary liquidation proceedings.
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001
Circular No. IBBI/VL/97/2026 | Dated: 2nd June, 2026
To
All Registered Insolvency Professionals
All Recognized Insolvency Professional Entities
All Registered Insolvency Professional Agencies
(By mail to registered email addresses and on the website of the IBBI)
Subject – Formats under the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.
The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (VL Regulations), as amended by the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2026 specify various forms relating to the process to be notified by Board through circular.
- Accordingly, in exercise of the powers conferred under section 196 of the Code read with the VL Regulations, the following formats are hereby specified:
| Sl. No. | Regulation | Description | Form |
| 1 | Regulation 14 | Public Announcement | Form A |
| 2 | Regulation 16 | Proof of Claim by Operational Creditors except Employees | Form B |
| 3 | Regulation 17 | Proof of Claim by Financial Creditors | Form C |
| 4 | Regulation 18(1) | Proof of Claim by a Workman or Employee | Form D |
| 5 | Regulation 18(2) | Proof of Claim by Authorised Representative of Workmen or Employees |
Form E |
| 6 | Regulation 19 | Proof of Claim by Any Other Stakeholder | Form F |
| 7 | Regulation 39(5) | Deposit of Unclaimed Dividends and/or Undistributed Proceeds into Corporate Voluntary Liquidation Account |
Form G |
| 8 | Regulation 38(3) | Compliance Certificate | Form H |
| 9 | Regulation 39(7) | Withdrawal from Corporate Voluntary Liquidation Account | Form I |
| 10 | Regulation 42(2) | Intimation for Termination of Voluntary Liquidation Proceedings | Form J |
3. The formats of the above Forms are enclosed at the Annexure to this Circular.
4. This Circular is issued in exercise of the powers conferred under section 196 read with section 240 of the Code.
Sd/-
(Jithesh John)
Executive Director
