The Insolvency and Bankruptcy Board of India (IBBI) issued Circular No. IBBI/LIQ/77/2024 on October 9, 2024, announcing an extension for the submission of forms related to voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016. Initially, liquidators were required to file these forms by September 30, 2024, as per Circular No. IBBI/LIQ/74/2024 dated June 28, 2024. However, the IBBI received multiple representations from liquidators and Insolvency Professional Agencies requesting additional time due to technical challenges in the submission process. In response, the IBBI decided to extend the deadline for filing the forms until 30th November 2024, aiming to facilitate smoother compliance for liquidators. This extension is granted under the powers conferred by section 196(1) of the Insolvency and Bankruptcy Code.
Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001
Circular No. IBBI/LIQ/77/2024 | Dated: 09th October 2024
To
All Registered Insolvency Professionals
All Recognised Insolvency Professional Entities,
and All Registered Insolvency Professional Agencies
(By mail to registered email addresses and on the website of the IBBI)
Dear Madam / Sir,
Subject: Extension of time for filing Forms to monitor voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder.
Vide Circular No. IBBI/LIQ/74/2024 dated 28.06.2024 the liquidators were directed to file forms relating to the voluntary liquidation latest by 30.09.2024.
2. In this regard, representations have been received from the liquidators and Insolvency Professional Agencies for extending the date citing the technicalities and issues involved in the submission of the
3. Considering the above-mentioned representations and difficulties faced by the liquidator, it has been decided to extend the last date of submission of forms till 30.11.2024.
4. This is issued in exercise of the powers under sub-section (1) of section 196 of the Insolvency and Bankruptcy Code,
Yours faithfully,
Sd/-
(Om Prakash)
Manager
