Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001
30th September, 2019
Dear Insolvency Professional,
Subject- Filing of forms for the purpose of monitoring corporate insolvency resolution processes and performance of insolvency professionals under the Insolvency and Bankruptcy Code, 2016 and the regulations made there under.
This has reference to the Circular No. IBBI/CIRP/023/2019 dated 14th August, 2019 on the above subject.
2. It is observed that a large number of insolvency professionals have filed Forms, which were due on or before 15th September, 2019, in respect of corporate insolvency resolution processes (CIRPs) conducted by them, by close of business today, that is, 30th September, 2019, as required under the aforesaid Circular. The three Insolvency Professional Agencies (IPAs) have informed that they are working with the remaining insolvency professionals to ensure filings and for this purpose, sought time for another 15 days. It has, therefore, been decided to allow filing of Forms, which are due on or before 30th September, 2019 in respect of CIRPs, both closed and ongoing, by 15th October, 2019.
3. It is reiterated that the authorisation for assignment shall be issued by the IPAs only to those insolvency professionals, who have filed all the Forms that have become due on the date of issue of authorisation.
All Registered Insolvency Professionals