IBBI Simplifies CIRP Forms for IPs

Insolvency and Bankruptcy Board of India (IBBI) has introduced revised and simplified forms for the Corporate Insolvency Resolution Process (CIRP), effective from June 1, 2025. This reform aims to reduce the compliance burden on Insolvency Professionals (IPs) while maintaining effective oversight. The existing nine forms (Form IP-1 and CIRP Forms 1-8) have been consolidated into five new forms (CP-1 to CP-5) by eliminating duplication and streamlining data requirements, with some information auto-populated. The new framework also introduces a standardized monthly reporting cycle, replacing the previous event-based due dates. CP-1 covers details from CIRP commencement to Committee of Creditors (CoC) constitution, CP-2 from CoC constitution to Request for Resolution Plan (RFRP) issuance, CP-3A for filing resolution plan/liquidation/closure applications, CP-3B for approval of resolution plan/liquidation/closure by the Adjudicating Authority, and CP-4 for avoidance transactions. CP-5 is a monthly update form for all ongoing CIRPs. To facilitate the transition, no penalties will be levied for delayed filings during July-September 2025. IPs are required to file these new forms electronically via the IBBI website, with specific instructions provided for CIRPs admitted on or after June 1, 2025, and those ongoing or closed before this date.

Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001

Circular No. Circular No. IBBI/CIRP/85/2025 Dated: Date: 26^th May, 2025

To
All Registered Insolvency Professionals
All Recognised Insolvency Professional Entities
All Registered Insolvency Professional Agencies
(By mail to registered email addresses and on website of the IBBI)

Subject: Launch of Revised Forms for Corporate Insolvency Resolution Process (CIRP).

1. The Insolvency and Bankruptcy Board of India, through notification dated 19^th May, 2025, has amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 to introduce a simplified and streamlined forms framework for monitoring Corporate Insolvency Resolution Process (CIRP). This reform represents a significant step towards reducing the compliance burden on Insolvency Professionals (IPs) while maintaining effective oversight of the insolvency resolution process.

2. Under the revised framework, the existing nine forms (consisting of Form IP-1 and CIRP Forms 1 to 8) are being consolidated into five forms (CP-1 to CP-5). This consolidation has been achieved by removing duplications, streamlining data requirements, and leveraging technology for auto-population of information already available on portal.

3. The new framework introduces a standardized monthly reporting cycle, replacing the current system of multiple event-based due dates during the month. These changes are expected to significantly reduce the time and effort required for compliance by the insolvency professionals while ensuring that the Board receives all essential information on timely basis.

4. The new forms framework, comprises the following forms:

Form	Period covered and scope	To be filed by	Timeline
(1)	(2)	(3)	(4)
CP-1	From commencement of CIRP till constitution of CoC: This includes details of IRP, CD, and the Applicant; admission of application by AA (Adjudicating Authority); public announcement; details of Authorised Representatives; taking over management of the CD; receipt and verification of claims; constitution of CoC etc.	IRP	On or before the 10th day of the subsequent month, after filing the report on constitution of CoC to AA
CP-2	From constitution of CoC till issue of RFRP: This includes details of RP; details of registered valuers; details in IM; expression of interest; RFRP and modification thereof; etc.	RP	On or before the 10th day of the subsequent month, after issuance of RFRP
CP- 3A	Details of resolution plan / liquidation / closure application filed with AA: This includes details of the resolution applicants; details of approval or rejection of resolution plans by CoC; details of application filed with AA for approval of resolution plan; details of initiation of liquidation, if applicable; etc.	RP	On or before the 10th day of the subsequent month, after filing application with AA
CP- 3B	Approval of resolution plan / liquidation / closure by AA: This includes details of the resolution plan approved by the AA or liquidation order or closure order; etc.	RP	Within 7 days of disposal of application by AA
CP-4	Avoidance transactions reported to AA: This includes details of the avoidance transactions (preferential, undervalued, extortionate credit, fraudulent); underlying amounts; date of reporting to AA; order of AA on the application, if any; etc.	RP	On or before the 10th day of the subsequent month, after filing of application(s) with AA or disposal of application(s)by AA
CP-5	Monthly: This includes updates on the status of CIRP; details of CoC meetings held; updates on litigations; details of expenses incurred; reasons for delay, if any; etc.in case of all ongoing CIRPs.	IRP/RP	On or before the 10th of every month for the preceding month.

5. An indicative template of new forms is placed as Annexure I for reference.

6. The new forms will be available on IBBI’s website from 1^st June, 2025, and the existing forms shall be discontinued with effect from the said date.

7. In order to facilitate IPs to familiarize themselves with the new forms and resolve technical issue(s) that may arise, if any, no penalty will be levied on delayed filing of forms, if any, during the initial quarter (July-Sep, 2025).

8. The set of forms developed by the Board on an electronic platform will be hosted on its website at https://www.ibbi.gov.in. The IP handling the CIRP assignment shall access the platform with a unique username and password provided by the IBBI and upload/submit the Forms, along with relevant information and records, after affixing DSC or e-signing.

9. It is directed that an IP shall file the revised Forms through the electronic platform as follows:

a. For CIRPs admitted on or after 1st June, 2025:

• • The revised forms shall be applicable as per this circular within the timelines prescribed in column (4) of Table under S. No. 4.

b. For CIRPs that are ongoing as on 1st June, 2025:

i. The existing CIRP-1 and CIRP-2 forms have now been converged into CP 1; and existing CIRP-3 and CIRP-4 forms have now been converged into CP 2. The new CP-1 and CP-2 forms are required only if the corresponding earlier CIRP forms were not submitted. Accordingly, CP 1 and CP 2 forms are not required to be submitted in all such cases where CIRP-1, CIRP-2, CIRP-3 and CIRP-4 forms were filed earlier.

ii. CP-3A, CP-3B & CP-4 forms are required to be submitted in all ongoing CIRP cases.

iii. In case of any form as per revised framework stated in point no. (i) & (ii) above, is due for submission, on or before1st June, 2025, such forms are required to be submitted by 30st Sep, 2025.

iv. Submit the first monthly CP-5 form by 10^th July, 2025 (for the period of June, 2025) and thereafter to be submitted on monthly basis till conclusion of CIRP.

c. For CIRPs closed on or before 31^st May, 2025:

• • Where any earlier forms remain pending as of the date of this circular, IPs shall submit the corresponding Forms under the revised framework, on or before 30^th September, 2025.

9. All subsequent filings shall be made only through the new forms by the IP who is in office as interim resolution professional or resolution professional as on the last date of the month preceding the month in which the form is due to be filed.

10. In case of any clarification, may refer to the Frequently Asked Questions (FAQs) as available on ibbi.gov.in. Further, any technical issues or difficulties in filing may be reported to support.form@ibbi.gov.in

11. This circular is issued in exercise of powers under section 196(1)(aa) of the Insolvency and Bankruptcy Code, 2016.

Yours faithfully,

Sd/-

Rajesh Tiwari
General Manager

ANNEXURE I – Indicative template of Forms

FORM – CP 1

(To be submitted to the Board by the IP online by 10^th of the month succeeding the month in which the Report certifying constitution of CoC is filed with Adjudicating Authority under Regulation 17(1))

Date of Filing of Report under Regulation 17(1)	Due date of Form (10th of the nextmonth)	Delay in submission of Form (Number of days)	Reasons for delay
	(to be auto-populated)	(to be auto-populated)

A. Corporate Debtor

1. Name of the Corporate Debtor: [Auto-populated]

2. CIN/LLPIN of Corporate Debtor: [Auto-populated]

3. PAN No. of Corporate Debtor: [Auto-populated]

4. Industry/Sector: [Auto-populated]

5. Date of incorporation: [Auto-populated]

6. Address of the registered office of the Corporate Debtor: [Auto-populated]

7. Address of the principal office of the Corporate Debtor, if any:

8. Address of the corporate office of the Corporate Debtor, if any:

9. Registered email id of the Corporate Debtor: [Auto-populated]

10. Whether going concern? (Yes/No)

11. Whether any proceedings were pending against the Corporate Debtor under Sick Industrial Companies (Special Provisions) Act, 1985? (Yes/No) If yes, date of admission under BIFR:

12. Whether any proceedings for winding up initiated under the Companies Act, 1956 or 2013?

(Yes/No)

If yes,

a. Section under which it was initiated:

b. Bench/Court:

c. Date of transfer to Adjudicating Authority (AA):

B. Insolvency Professional

1. Process Email Id:

C. Admission of application by AA

1. Application filed under Section: (Dropdown – 7/9/10)

2. CP (Company Petition) No.:

3. Date of filing to AA:

4. Bench: [Auto-populated]

5. Name of the Applicant/ Petitioner: (In case of section 7 application, list of SCBs to be provided in dropdown, with “other, please specify” option)

6. Address of the Applicant/Petitioner:

7.  In case of section 9, whether the name of IRP was proposed by the operational creditor (applicant)? (Yes/No)

8. Date of admission: [Auto-populated]

9. Date of AA Order appointing the IRP: [Auto-populated]

10. Amount of underlying default for which petition has been admitted (Rupees):

11. Date on which the default occurred: (Date)

D. Public Announcement

1. Date of issue: [Auto-populated]

2.  Details of publication of Public Announcement (Allow multiple rows)

3. Last date for submission of claims: [Auto-populated]

4. Details of classes of creditors, if any, under section 21(6A)(b) and names of authorised representative (AR) identified for each class:

a. Number of class of creditors:

b. IP(s) recommended/appointed as an AR for each class:

S. No.	Class of Creditors (Dropdown – Real Estate Allottees/Debent ure Holders/Others)	IPs selected/recommended as AR
		IP registration number	Name of IP
1.			Name of IP
2.			Name of IP

E. Process Status

1. Whether Corporate Debtor is listed as on ICD? (Yes/ No): [Auto-populated; Editable]

2. Has IRP taken into custody records and assets relating to CD? (Yes/ No/Partial)

If no, whether application made u/s 19(2) of the Code, to the AA? (Yes /No)

If no, specify the reasons:

F. Add table of COC Constitution

S. No.	Name	Voting %	Amount      of Admitted claim (In Rs.)	Category (Dropdown)
Total

Remarks, if any

Declaration

I, [Name of IP] having IP registration number [Registration no.], was appointed as an Interim Resolution Professional / Resolution Professional vide NCLT order dated [ Insert date], under section 16/22 of the Insolvency and Bankruptcy Code.

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 – CP2

(To be submitted to the Board by the IP online by 10^th of the month succeeding the month in which Request

for Resolution Plans is issued)

Date of issue of RFRP	Due date of Form (10th of the next month)	Delay in submission of Form (Number of days)	Reasons for delay
	(to be auto populated)	(to be auto populated)

 

1. Corporate Debtor
2. Name of the Corporate Debtor: [Auto-populated]
3. CIN/LLPIN of Corporate Debtor: [Auto-populated]
4. Appointment of registered valuers
5. Whether Registered Valuers appointed ? (Yes/No)
6. If no, reasons thereof:
7. If Yes: Table below to be displayed

S. No.	Name of Valuer	Registration number of Valuer	Date of appointment	Class of assets (Land and Building/ Plant and machinery/ Securities and Financial Assets others)

 

1. Information memorandum (IM)
2. Date of submission of IM to CoC:
3. Whether CD is an MSME? (Yes/ No)
4. Details of EOI & RFRP
5. Date of issue of provisional list of eligible PRAs: [Auto Populated]
6. Date of Issue of final list of PRAs: [Auto Populated]
7. Number of EOI received:
8. of eligible PRAs to whom RFRP issued:
9. Last date for submission of resolution plans:

Remarks, if any

Declaration

I, [Name of RP] having IP registration number [Registration no.], was appointed as an Resolution Professional

vide NCLT order, dated [ mention date] in application number [ mention application number] dated [mention

date of appointment of RP], under section 22 of the Insolvency and Bankruptcy Code, 2016/ is functioning as

Resolution Professional under Regulation 17(3).

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 – CP3A

(To be submitted to the Board by the IP online by 10^th of the month succeeding the month in which the application for approval of resolution plan / liquidation / process closure, is filed with the Adjudicating Authority)

Date of submission of application for approval of resolution plan /liquidation / process closure to AA	Due date of Form (10th of next month)	Delay in submission of Form Number of days)	Reasons for delay
Date: E filing Number: NCLT Bench: Court No.	(to be auto populated)	(to be auto populated)

SECTION 1

A. Corporate Debtor

1. Name of the Corporate Debtor: [auto populate]

2. CIN/LLPIN of Corporate Debtor: [auto populate]

B. Dropdown:

> Application for approval of Resolution Plan filed

> Application for initiation of Liquidation filed

> Application for closure of CIRP filed (12A/dissolution/other, please specify)

(Respective ensuing Section 2 / 3 / 4 fields to open)

SECTION 2

(Application for approval of Resolution Plan filed)

1. Name of Successful Resolution Applicant

2. Date of the meeting of CoC approving the resolution plan:

3. Date of approval of CoC (i.e. conclusion of voting):

4. % of voting share by which CoC approved the resolution plan:

5. % of voting share which dissented to the resolution plan:

SECTION 3

(In case, application for initiation of Liquidation process filed)

1. Reason for filing application for liquidation of the CD (No valuable assets / Non- receipt of resolution plan/ Rejection of resolution plan by CoC/ others, please specify): (refer regulation 40D for dropdown options)

2. Date of the meeting of CoC approving the liquidation:

3. Date of approval of CoC (i.e. conclusion of voting):

4. % of voting share by which CoC approved for liquidation:

SECTION 4

(In case, application for closure of CIRP filed (Premature closure of CIRP – 12A/early dissolution, etc.)

1. Reason for application for closure of CIRP – Add dropdown (Withdrawal u/s 12A/ Others, please specify)____

2. Date of application to AA:

3. Whether application is filed before constitution of CoC? (Y/N) If No:

i. Date of the meeting of CoC approving the withdrawal:

ii. Date of approval of CoC (i.e. conclusion of voting):

SECTION 5

(Common information to be filled in all three scenarios – A/B/C)

1. Details of Interim Finance. Whether interim finance availed ? – (Yes/No)

2. If yes, display below mentioned table:

S. No.	Providers (Dropdown – PSBs, Private SCBs, NBFCs, others)	Date of Sanction	Amount Sanction	Amount Availed	Rate of Interest p.a. (In %)	Purpose of Utilization

Declaration

I, [Name of RP] having IP registration number [Registration no.], was appointed as a Resolution Professional vide NCLT order dated [ Insert date] and Application number [ Insert application number] dated [ Date of appointment of RP], under section 22 of the Insolvency and Bankruptcy Code, 2016/ is functioning as Resolution Professional under Regulation 17(3).

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 – CP 3B

(To be submitted to the Board by the IP online within 7 days of the approval of resolution plan / liquidation / process closure)

SECTION 1

1. Nature of Judicial Order for completion of process (select one of the following):

• Resolution Plan
• Liquidation
• Process Closure (12A/direct dissolution)
• Process set aside by the order of NCLT/NCLAT/Courts
• Others – Please specify

2. Date of approval:

3. Details of Admitted Claims (In Rupees)

Type	Principal Amount	Other Amount (including interest, penalty)	Total Admitted Claims
Secured Financial Creditors (other than FC in a Class)
Financial Creditors in a class
Unsecured FinancialCreditors
Operational Creditors
Government
Workmen
Employees
Other Debts and Dues
Shareholders
Total

SECTION 2

Resolution Plan (Fill, if selected a. above)

1. Details of stakeholders, claims, and realization, under resolution plan.

(Amount in Rupees)

S. No.	Category of stakeholder*	Number of creditors/ parties	Amount claimed	Amount admitted(auto populate)	Realizable by Stakeholders
					Amount	% (auto calcu late %)
1	IRPC
2	Secured Financial Creditors (other than FC in a Class)
3	Financial creditors in a class
4	Unsecured Financial Creditors
5	Operational Creditors
6	Government
7	Workmen
8	Employees
9	Other Debts and Dues
10	Shareholders
Total

* If there are sub-categories in a category (like real estate allottees, debenture holders etc.), please add rows for each sub-category.

2. Amounts, if an, proposed to be invested as part of Resolution Plan: CAPEX, Working capital, etc.

3. Has any Implementing Agency/ Monitoring Committee been recommended? (Y/N)

• If Yes, whether RP is part of Implementing Agency/ Monitoring Committee? – (Yes/ No)
• If No, give name and contact details of the nodal individual from SRA reg. the implementation of plan.

4. Whether RP has made a determination on preferential/ undervalued/ extortionate/ fraudulent transactions? (Yes/ No):

If Yes, details of avoidance transactions: As per the plan, proposed beneficiary of the roceeds of the avoidance application:

S. No. (Allow addition of multiple rows	Proposed Beneficiary as per Plan (Dropdown – Creditors/ CD or SRA/ Others, if any)	Underlying Amount as per Application
Total

5. Other details of resolution plan

a. Infusion of Equity (Yes/No)
If yes, infusion of Equity Amount:

b. Bank Guarantee (Yes/No)
If yes, Bank Guarantee amount

c. Name of entity post resolution

SECTION 3

Details of Liquidation (Fill, if selected b. above)

1. Name of Liquidator appointed by NCLT____________

2. Liquidation Commencement Date_____

SECTION 4

Closure /withdrawal (Fill, if selected c. above)

1. Please specify the Reason_(Dropdown – Full settlement with the applicant/ Full settlement with other creditors/ Agreement to settle in future/ Other settlements with creditors/ Others)_ ______

2. Amount of claims:

3. Settlement Amount, if available:

SECTION 5

(Common information to be filled in all three scenarios – A/B/C)

1. Details of Valuation

(Amount in Rupees)

Average Liquidation Value
Average Fair Value

2. Total CIRP Cost (A=B+C):

a. Process Related Costs (B):

b. Going Concern Related Costs (C):

FORM – CP 4

(To be submitted to the Board online by 10^th of the month succeeding the month in which application for avoidance transactions is filed with AA / order is given by AA or other court)

Date of filing application of P/U/F/E transactions	Due date of Form (10th of the next month)	Delay in submission of Form (number ofdays)	Reasons for delay
	(to be auto populated)	(to be auto populated)

(Multiple submissions of Form to be allowed as applications may be filed on multiple dates; Also allow modification by IPs in coloumn No. 8, 9 and 10 of the table as and when AA adjudicates on the application).

A. Details of Insolvency Professional

1. Name of Resolution Professional: [Auto populated]

2. Registration Number: [Auto populated]

B. Corporate Debtor details

1. Name of Corporate Debtor: [Auto populated]

2. CIN/LLPIN of Corporate Debtor: [Auto populated]

3. NCLT Bench: [Auto populated]

C. Details of Avoidance Applications filled during CIRP

S. No. (1)	Date of Filin g (2)	Filin g No. (3)	Nature (4)	Relations hip with the CD (Related Party/Oth er than Related party) (5)	Date of such transacti on (6)	Underlyi ng Amount (7)	Dat e of ord er (8)	Decision of AA (Accepted the prayer/Rejected/Ot hers, please specify) (9)	If accepte d, Amoun t ordere d to be clawed back (10)	Remar ks (11)
Allow addition of rows for each applicati on			Preferential (Section 43, 44)
			Undervalued (Section 45, 46, 47, 48, 49)
			Extortionate (Section 50, 51)
			Fraudulent (Section 66)
			Combinations of Preferential/Undervalued/Fraudulent/Ex tortionate, if any

Attachments (For each entry above)

1. Copy of Application filed with the Adjudicating Authority with all annexures.

2. Order passed by the Adjudicating Authority.

Declaration

I, [Name of RP] having IP registration number [Registration no.], was appointed as an Resolution Professional vide NCLT order, dated [ mention date] in application number [ mention application number] dated [mention date of appointment of RP], under section 22 of the Insolvency and Bankruptcy Code, 2016/ is functioning as Resolution Professional under Regulation 17(3).

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 – CP 5

(To be submitted to the Board by the IP online by 10^th of the every month capturing the status of the CIRP as on the last day of the previous month.

Note: if an IP demits the office during a month, it shall fill the form by 10^th of next month for update during his tenure)

Section 1: General Information

Name of the IP:				[auto populate]
Name of the CD:				[auto populate]
CIN/LLPIN of Corporate Debtor				[auto populate]
ICD:				[auto populate]
Filling for the year:
Filling for the month:
Whether any If Yes, Period (in days) S. No.	exclusion of period taken excluded by AA/ NCLAT/ Start Date	from AA (Y/N): Other Courts in CIRP End Date	period (Cumulative): No of Days		Order Upload	Reasons for exclusions:
1
Whether any extensions taken from AA (Y/N): If Yes,
Cumulative Period of extension granted by AA (in days):

–

S.No.	Start Date	End Date		No of Days	Order Upload	Reasons
1
Expected date of completion of CIRP period: (auto calculate)

–

								Details of	Allow addition of
Sr. No.	Nature of Stay	Name of Court/Tribunal	NCLT Benches	Order Date	Order Copy	Remarks	Category of Applicant on whose application stay is granted	appeal, if any	multiple rows
	Dropdown	[Dropdown]	[Dropdown]	[Date]	[Attach	[Text]	Dropdown		+
	(Stay on admission/ stay on process/				File]		(Promotors/Financial Creditors/Government Departments/Employees/others)		Add rows

stay on formation of CoC/stay on approved resolution plan/Others, please specify)

PART B:

In case stay was reported in last month

–    Whether Stay vacated during the month ? –If yes, attach copy of order

–   Attach copy of order

If Ongoing – Section B