Document text
Page 1 of 32
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001
CIRCULAR
No. IBBI/PPIRP/95/2026
2nd June, 2026
To
All Registered Insolvency Professionals
All Recognised 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 (Pre-packaged
Insolvency Resolution Process) Regulations, 2021.
The Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process)
Regulations, 2021 (PPIRP Regulations), as amended by the IBBI (Pre-Packaged Insolvency
Resolution Process) (Third Amendment) Regulations, 2026 specify various forms relating to
the process to be notified by Board through circular.
2. Accordingly, in exercise of the powers conferred under section 196 of the Code read with
the PPIRP Regulations, the following formats are hereby specified:
Sl.
No.
Regulation
Description
Form
1.
Regulation 7(1)
Written Consent
Form P1
2.
Regulation 14
List of Creditors of the Corporate Debtor
Form P2
3.
Regulation 14(5)
Approval of Terms of Appointment of
Resolution Professional
Form P3
4.
Regulation 14(7)
Approval for Initiating Pre-packaged
Insolvency Resolution Process
Form P4
5.
Regulation 15(iii) Written Consent to Act as Authorised
Representative
Form P5
6.
Regulation 16(1)
Declaration by Director/Partners
Form P6
7.
Regulation 16(2)
Declaration Regarding Existence of Avoidance
Transaction(s)
Form P7
8.
Regulation 17
Report of the Insolvency Professional
Form P8
9.
Regulation 19(2)
Public Announcement
Form P9
10.
Regulation 20
List of Claims
Form P10
11.
Regulation 43
Invitation for Resolution Plans
Form P11
12.
Regulation 49(1)
Compliance Certificate
Form P12
13.
Regulation 49(4)
Application for Termination of Pre-packaged
Insolvency Resolution Process
Form P13
Page 2 of 32
14.
Regulation 51
Application for Vesting Management with
Resolution Professional
Form P14
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
Page 3 of 32
Annexure
FORM P1
WRITTEN CONSENT
(Under regulation 7(1) of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
[Date]
To
The Adjudicating Authority
[ ___________ Bench]
From
[Name of the insolvency professional]
[Registration number of the insolvency professional]
[Address of the insolvency professional registered with the Board]
Subject: Written consent in the matter of [name of corporate debtor]
1. I, [name], an insolvency professional enrolled with [name of insolvency professional
agency] and registered with the Board. I have been proposed for appointment-
(i) as the interim resolution professional under section 54O of the Insolvency and
Bankruptcy Code, 2016 for corporate insolvency resolution process of [name of the
corporate debtor].
OR
(ii) resolution professional under sections 54A or 27 of the Insolvency and Bankruptcy
Code, 2016 for the pre-packaged insolvency resolution process of [name of the
corporate debtor].
{strike off the part which is not relevant}
2. I hereby give consent to the proposed appointment.
3. I have the following processes in hand:-
Sl. No.
Role as
Number of processes on the date of consent
I
II
III
1
Interim
Resolution
Professional
2
Resolution Professional in-
a. Insolvency
resolution
processes for corporate
persons
b. Pre-packaged insolvency
resolution processes
c. Insolvency
resolution
processes for individuals
3
Liquidator of-
a. Liquidation Processes
b. Voluntary Liquidation
Processes
4
Bankruptcy Trustee
Page 4 of 32
5
Authorised Representative
6
Any other (Please state)
4. I declare and affirm as under:-
a. I am not subject to any disciplinary proceeding initiated by the Board or the Insolvency
Professional Agency.
b. I do not suffer from any disability to act as a resolution professional.
c. I am eligible to be appointed as interim resolution professional / resolution
professional of the corporate debtor under regulation 7 of the Insolvency and
Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process)
Regulations, 2021 and other applicable provisions of the Code and the Regulations.
d. I shall make the disclosures in accordance with the code of conduct for insolvency
professionals set out in the Insolvency and Bankruptcy Board of India (Insolvency
Professionals) Regulations, 2016.
Date:
Place:
(Signature of the insolvency professional)
Registration No.________
Authorisation for assignment (AFA)No. ______
Date of expiry of AFA________
(Name in block letters)
(Name of insolvency professional entity, if applicable)
Page 5 of 32
FORM P2
LIST OF CREDITORS OF [NAME OF CORPORATE DEBTOR]
(Under regulation 14 of the Insolvency and Bankruptcy Board of India (Pre-packaged
Insolvency Resolution Process) Regulations, 2021)
AS ON [DATE]
(Amount in ₹)
List of financial creditors (unrelated)
I
II
III
IV
Sl. No.
Name of creditor
Amount of claim
% of claim
1
2
3
List of financial creditors (related)
Sl. No.
Name of creditor
Amount of claim
% of claim
1
2
3
List of operational creditors (unrelated)
Sl. No.
Name of creditor
Amount of claim
% of claim
1
2
3
List of operational creditors (related)
Sl. No.
Name of creditor
Amount of claim
% of claim
1
2
3
List of other creditors (unrelated)
Sl. No.
Name of creditor
Amount of claim
% of claim
1
2
3
List of other creditors (related)
Sl. No.
Name of creditor
Amount of claim
% of claim
1
2
3
[For Corporate Applicant]
(Signature)
Name of person submitting information
Relationship with corporate debtor
Page 6 of 32
FORM P3
APPROVAL OF TERMS OF APPOINTMENT OF RESOLUTION PROFESSIONAL
(Under regulation 14(5) of the Insolvency and Bankruptcy Board of India (Pre-packaged
Insolvency Resolution Process) Regulations, 2021)
1. The meeting of financial creditors, who are not related parties of the corporate debtor, was held
on [date of meeting] at [time of meeting] at [venue of meeting] for proposing and approving
the name of resolution professional for pre-packaged insolvency resolution process of [name
of corporate debtor].
2. The list of creditors in Form P2 was provided with the notice of said meeting.
3. The details of creditor(s) present in the said meeting are enclosed as Annexure-A.
4. [Name of creditor(s)], having % of debt*, proposed the name of [name of proposed resolution
professional], having registration number [registration number] for appointment as resolution
professional for the pre-packaged insolvency resolution process of [name of corporate debtor].
5. The following creditor(s) have approved the appointment of [name of proposed resolution
professional], having registration number [registration number] for appointment as resolution
professional for the pre-packaged insolvency resolution process of [name of corporate debtor].
Sl. No.
Name of
creditor(s)
Amount of debt* Percentage of
debt*
Vote
Assent Dissent Abstain
I
II
III
IV
V
VI
VII
1
2
3
Total
6. The above-mentioned creditor(s), also approved the following terms of appointment of the
[name of proposed resolution professional]:-
Sl. No.
Particulars
Fee (Amount in ₹)
Remarks
I
II
III
IV
1 Fee payable to the resolution professional for
performing duties under sub-section (1) of
section 54B
2 Fee payable to the resolution professional
and expenses to be incurred by him for
conducting the process under section 54F
3 Fee payable to the resolution professional
and expenses to be incurred by him in case
management of the corporate debtor is vested
with him under section 54J
Page 7 of 32
7. That [name of creditor], is duly authorised to sign this Form on behalf of all the / assenting
creditor(s) mentioned in Table in para 5.
[Name of creditor]
(Signature)
[NAME IN BLOCK LETTERS]
[Designation]
*Debt means aggregate financial debt owed to the financial creditors who are not related
parties of the corporate debtor.
(Please modify the form suitably where the creditors are operational creditor(s))
Page 8 of 32
FORM P4
APPROVAL FOR INITIATING PRE-PACKAGED INSOLVENCY RESOLUTION
PROCESS OF [NAME OF CORPORATE DEBTOR]
(Under regulation 14(7) of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
1. The meeting of financial creditors, who are not related parties of the corporate debtor, was held
on [date of meeting] at [time of meeting] at [venue of meeting] for approving the initiation of
pre-packaged insolvency resolution process in respect of [Name of corporate debtor].
2. Following document(s) was/were enclosed with the notice of said meeting:-
a. list of creditors in Form P2;
b. copy of declaration by members/partners in Form P6;
c. copy of members’ special resolution or partners’ resolution, as the case may be;
d. base resolution plan; and
e. other relevant information or document, if any.
3. The details of creditor(s) present in the said meeting are enclosed herewith as Annexure-A.
4. The following creditor(s) have approved the initiation of pre-packaged insolvency resolution
process in respect of [name of corporate debtor].
Sl. No.
Name of
creditor(s)
Amount of
debt*
Percent of debt*
Vote
Assent Dissent Abstain
I
II
III
IV
V
VI
VII
1
2
3
Total
5. That [name of creditor], is duly authorised to sign this Form on behalf of all the / assenting
creditor(s) mentioned in Table above.
[Name of creditor]
Signature
[NAME IN BLOCK LETTERS]
[Designation]
*Debt means aggregate financial debt owed to the financial creditors who are not related parties
of the corporate debtor.
(Please modify the form suitably where the creditors are operational creditor(s))
Page 9 of 32
FORM P5
WRITTEN CONSENT TO ACT AS AUTHORISED REPRESENTATIVE
(Under regulation 15(iii) of the Insolvency and Bankruptcy Board of India (Pre-packaged
Insolvency Resolution Process) Regulations, 2021)
From
[Name of the insolvency professional]
[Registration number of the insolvency professional]
[Registered address of the insolvency professional]
To
[Name of resolution professional], the resolution professional of pre-packaged insolvency
resolution process of [name of corporate debtor]
Subject: Written Consent to act as an authorised representative.
1. I, [name], an insolvency professional enrolled with [name of insolvency professional agency]
and registered with the Board, note that you have proposed to appoint me as the authorised
representative of financial creditors in a class [specify class] in the pre-packaged insolvency
resolution process of [name of the corporate debtor].
2. I hereby give my consent for the proposed appointment.
3. I am having the following processes in hand:-
4. I declare and affirm as under:-
a. I am not subject to any disciplinary proceeding initiated by the Board or the Insolvency
Professional Agency.
Sl. No.
Role as
Number of processes on the date of consent
I
II
III
1
Interim Resolution Professional
2
Resolution Professional in-
a. Insolvency
resolution
processes for corporate
persons
b. Pre-packaged insolvency
resolution processes
c. Insolvency
resolution
processes for individuals
3
Liquidator of-
a. Liquidation Processes
b.
Voluntary
Liquidation
Processes
4
Bankruptcy Trustee
5
Authorised Representative
6
Any other (Please state)
Page 10 of 32
b. I do not suffer from any disability to act as an authorised representative.
c. I shall not canvass with the creditors to indicate their choice in my favour.
Date:
Place:
(Signature of the insolvency professional)
Registration No.________
Authorisation for assignment (AFA) No. ________
Date of expiry of AFA________
(Name in block letters)
(Name of insolvency professional entity, if applicable)
Page 11 of 32
FORM P6
DECLARATION BY DIRECTOR/PARTNERS
(Under regulation 16(1) of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
[Date]
To
The Adjudicating Authority
[ ________ Bench]
Subject: Declaration for initiating pre-packaged insolvency resolution process in
respect of [name of corporate debtor].
We,-
Sl. No.
Name and Designation
Director Identification
Number
Address
I
II
III
IV
1
2
3
representing majority among the directors/partners of the [name of the corporate debtor]
“Corporate Debtor”) having [Identification Number] and having registered office at
[Address], declare and affirm as under:-
i.
The corporate debtor shall file an application for initiating pre-packaged insolvency
resolution process within [insert number of days].
ii.
The pre-packaged insolvency resolution process is not being initiated to defraud any
person.;
iii.
The creditors have approved the name of [name of insolvency professional], having
registration number [registration number], in the meeting of creditors convened under
clause (e) of sub-section (2) of section 54A read with regulation 8 of the Insolvency
and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process)
Regulations, 2021, held on [date of meeting].
iv.
The details of the corporate debtor
Sl.
No.
Title
Details
I
II
III
1 Name of the corporate debtor
2 Registered address of the corporate
debtor
3 Date of incorporation of the corporate
debtor
4 Estimated date for filing the application
with adjudicating authority for initiating
pre-packaged
insolvency
resolution
Page 12 of 32
process
v.
The contents of this declaration are true and correct and that we have concealed
nothing and that no part of it is false.
Date:
Place:
(Signature of the Director/Partner)
(Name in block letters)
DIN-_________
Address:_________
Date:
Place:
(Signature of the Director/Partner)
(Name in block letters)
DIN-_________
Address:_________
(To be signed by all the directors/partners mentioned in Point-1)
Page 13 of 32
FORM P7
DECLARATION REGARDING EXISTENCE OF AVOIDANCE TRANSACTION(S)
(Under regulation 16(2) of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
[Date]
To
The Adjudicating Authority
[___________ Bench]
Subject: Declaration regarding existence of avoidance transaction in respect of [name
of corporate debtor].
I, [name], a managing director/chairperson/designated partner/partner [director, if there is
no managing director and chairperson] of the [name of the corporate debtor] (“Corporate
Debtor”) having [Identification Number] having registered office at [Address], declare and
affirm as under:-
{strike off the part which is not relevant}
i.
the corporate debtor has not been subject to any transaction within the meaning and
scope of Chapter III or Chapter VI of the Insolvency and Bankruptcy Code, 2016
(Code).
OR
ii.
the corporate debtor has been subject to following transaction(s) within the meaning
and scope of Chapter III or Chapter VI of the Code:-
Sl. No Transaction
with
Section
(43/45/ 50/66)
Amount involved
(in Rs.)
Remarks, if any
I
II
III
IV
V
1
2
3
A note providing detail(s) of above-mentioned transaction(s) along-with relevant
document(s) is enclosed as Annexure-A.
Place:
Date:
(Signature)
Name
Designation
DIN
Address
Page 14 of 32
FORM P8
REPORT OF THE INSOLVENCY PROFESSIONAL
(Under regulation 17 of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
I [name of insolvency professional], proposed for appointment as resolution professional of
[name of corporate debtor] in respect of pre-packaged insolvency resolution process of [name
of corporate debtor] hereby declare and affirm as under:-
1. I have sought and obtained all the information and explanations which to the best of my
knowledge and belief are necessary for the purposes of preparation of report under
section 54B of the Insolvency and Bankruptcy Code, 2016 (Code) and Regulations
thereunder.
2. I have examined the relevant documents and information required to ascertain the status
of the corporate debtor and I hereby confirm that [name of corporate debtor] is a micro/
small/medium enterprise under sub-section (1) of section 7 of the Micro, Small and
Medium Enterprises Development Act, 2006 (27 of 2006);
3. I hereby confirm that-
a. the corporate debtor has not undergone pre-packaged insolvency resolution process or
completed corporate insolvency resolution process, during the period of three years
preceding the date of making of the application;
b. the corporate debtor is not undergoing a corporate insolvency resolution process;
c. no liquidation order has been made in respect of the corporate debtor;
d. majority of directors / partners of the corporate debtor have made a declaration in Form
P6 pursuant to clause (e) of sub-section (2) of section 54A; [Attachment]
e. the members of the corporate debtor have passed a special resolution or three-fourth of
the total number of partners of the corporate debtor have passed a resolution approving
the filing of the application for initiating pre-packaged insolvency resolution process;
f. the creditors of the corporate debtor representing [percent] of debt* have approved the
proposal for appointment of resolution professional, as required under clause (e) of sub-
section (2) of section 54A in Form P3;
g. the creditors of the corporate debtor representing [percent] of debt* have approved the
proposal for initiation of pre-packaged insolvency resolution process in respect of
[name of corporate debtor], as required under sub-section (3) of section 54A in Form
P4;
h. the amount of default incurred by the corporate debtor is within the limit notified under
sub-section (2) of section 4 of the Code; and
i. I have examined the base resolution plan provided to creditor(s) under clause (c) of sub-
Page 15 of 32
section (4) of section 54A, and hereby confirm that it complies with sub-sections (1)
and (2) of section 30, section 54K of Code and the Insolvency and Bankruptcy Board
of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 and all other
applicable provisions.
Place:
Date:
(Signature)
Name of insolvency professional
Registration number
*Debt means aggregate financial debt owed to the financial creditors who are not related parties
of the corporate debtor.
Page 16 of 32
FORM P9
PUBLIC ANNOUNCEMENT
(Under regulation 19(2) of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
FOR THE ATTENTION OF THE CREDITORS OF [NAME OF CORPORATE DEBTOR]
Notice is hereby given that the Adjudicating Authority, ____Bench has ordered for the
commencement of pre-packaged insolvency resolution process for [name of the corporate debtor]
on [pre-packaged insolvency commencement date].
RELEVANT PARTICULARS
I
II
III
1
Name of corporate debtor
2
Former name(s), if changed in last two years
3
Date of incorporation of corporate debtor
4
Authority under which corporate debtor is incorporated /
registered
5
Identification number
6
Address of the registered office and principal office (if any) of
corporate debtor
7
Pre-packaged insolvency commencement date
8
Name and registration number of the resolution professional
9
Address and e-mail of the resolution professional, as registered
with the Board
10
Address and e-mail to be used for correspondence with the
resolution professional
11
List of claims shall be made available from [insert date] at:
(Signature)
Name and of resolution professional:
Date:
Place:
Page 17 of 32
FORM P10
LIST OF CLAIMS
(Under regulation 20 of the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021)
As on________________
(Amount in ₹)
Sl. No.
Category of creditor
Summary of
claims
Amount
of
contingent
claims
Details in
Annexure
Remarks,
if any
No. of
claims
Amount
I
II
III
IV
V
VI
VII
1 Secured
financial
creditors
belonging to any class of
creditors
1
2 Unsecured financial creditors
belonging to any class of
creditors
2
3 Secured financial creditors
(other than financial creditors
belonging to any class of
creditors)
3
4 Unsecured financial creditors
(other than financial creditors
belonging
to
any class of
creditors)
4
5 Operational creditors (Workmen)
5
6 Operational creditors (Employees)
6
7 Operational
creditors
(Government dues)
7
8 Operational creditors (other than
Workmen,
Employees
and
Government dues)
8
9 Other creditors, if any,
(other
than
financial
creditors and operational
creditors)
9
Total
[For Corporate Debtor]
Signature
Name of person submitting the
information
OR
[For Resolution Professional]
Signature
Name of Insolvency Professional
Page 18 of 32
Relationship with corporate debtor
Registration Number____
Annexure-1
Name of the corporate debtor: ……………
Date of commencement of PPIRP:……….
List of creditors as on: ………………………
List of secured financial creditors belonging to any class of creditors
(Amount in ₹)
Sl.
No.
Name
of
credito
r
Identifi
cation
No.
Details of claims
Amount
of
continge
nt claim
Amount
of any
mutual
dues,
that
may be
set- off
Re
ma
rks
, if
any
Amount
of claim
Nature
of
claim
Amount
covered
by
security
interest
Amou
nt
cover
ed by
guara
ntee
Whethe
r related
party.
% of
voting
share
in
comm
ittee
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
1
2
3
Annexure-2
Name of the corporate debtor: ……………
Date of commencement of PPIRP:………
List of creditors as on: ………………………
List of unsecured financial creditors belonging to any class of creditors
(Amount in ₹)
Sl.
No
.
Name
of
credit
or
Identificati
on No.
Details of claims
Amount
of
continge
nt claim
Amou
nt of
any
mutua
l dues,
that
may
be set-
off
Remark
s, if any
Amou
nt of
claim
Natu
re of
claim
Amount
covered
by
guarant
ee
Wheth
er
related
party.
% of
voting
share in
committ
ee
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
1
2
3
Annexure – 3
Name of the corporate debtor: ……………
Date of commencement of PPIRP:…..
Page 19 of 32
List of creditors as on: ………………………
List of secured financial creditors (other than financial creditors belonging to any class of
creditors)
(Amount in ₹)
Sl.
No
.
Nam
e of
credi
tor
Identif
ication
No.
Details of claims
Amou
nt of
contin
gent
claim
Amoun
t of any
mutual
dues,
that
may be
set- off
Remark
s, if any
Amount
of claim
Nature
of claim
Amount
covered
by
security
interest
Amount
covered
by
guarantee
Whethe
r related
party.
% of
voting
share
in
comm
ittee
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
1
2
3
Annexure – 4
Name of the corporate debtor: ……………
Date of commencement of PPIRP:……….
List of creditors as on: ………………………
List of unsecured financial creditors (other than financial creditors belonging to any
class of creditors)
(Amount in ₹)
Sl.
N
o.
Name
of
credit
or
Identificati
on No.
Details of claims
Amount
of
continge
nt claim
Amou
nt of
any
mutua
l dues,
that
may
beset-
off
Remar
ks, if
any
Amou
nt of
claim
Natu
re of
claim
Amount
covered
by
guarant
ee
Wheth
er
related
party.
% of
voting
share in
committ
ee
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
1
2
3
Annexure – 5
Name of the corporate debtor: ……………
Date of commencement of PPIRP:………
List of creditors as on: ………………………
List of operational creditors (Workmen)
(Amount in₹)
Page 20 of 32
Sl.
No.
Name of
workm
an
Identific
ation No.
Details of claims
Amount
of
contingent
claim
Amount
of any
mutual
dues,
that
may be
set-off
Remarks
, if any
Amount
of claim
Nature
of
claim
Whether
related
party.
% voting
share in
committe
e, if
applicable
I
II
III
IV
V
VI
VII
VIII
IX
X
1
2
3
Annexure – 6
Name of the corporate debtor: ……………
Date of commencement of PPIRP:……….
List of creditors as on: ………………………
List of operational creditors (Employees)
(Amount in₹)
Sl.
No
.
Name of
emplo yee
Identific
ation No.
Details of claims
Amount
of
contingen
t claim
Amount of
any mutual
dues, that
may be set-
off
Remark
s, if any
Amount
of claim
Nature
of
claim
Whether
related
party.
% of
voting
share in
committe
e, if
applicable
I
II
III
IV
V
VI
VII
VIII
IX
X
1
2
3
Annexure – 7
Name of the corporate debtor: ……………
Date of commencement of PPIRP:……….
List of creditors as on: ………………………
List of operational creditors (Government dues)
(Amount in₹)
Sl.
No
Details of
Government
organisation
Details of claims
Am
ount
of
Amount
of any
mutual
dues,
Remarks,
if any
Depa GoveIdenti Amoun Nature Amou Amount % of
Page 21 of 32
rt
ment
r
nme
nt
fi
cation
t of
claim
of
Claim
nt
covere
d by
securit
y
interes
t
covered
by
guarante
e
voting
share in
committe
e, if
applicable
that may
be set-off
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
1
2
3
Annexure – 8
Name of the corporate debtor: ……………
Date of commencement of PPIRP:……….
List of creditors as on: ………………………
List of operational creditors (Other than Workmen and Employees and Government
dues)
(Amount in ₹)
Sl.
No
.
Name
of
creditor
Identi
ficatio
n No.
Details of claim
Amoun
t of
conting
ent
claim
Amount
of any
mutual
dues,
that
may be
set-off
Re
mar
ks,
if
any
Amou
nt of
claim
Nature
of
claim
Amount
covered
by
security
interest
Amoun
t
covere
d by
guaran
tee
Whether
related
party.
% of
voting
share
in
comm
ittee
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
XII
1
2
3
Annexure – 9
Name of the corporate debtor: ……………
Date of commencement of PPIRP:……….
List of creditors as on: ………………………
List of other creditors (Other than financial creditors and operational creditors)
(Amount in₹)
Sl. Name Identifi
Details of claim
Amount Amount Remar
Page 22 of 32
No.
of
credit
or
cation
No.
Amount
of claim
Nature
of
claim
Amount
covered
by
security
interest
Amount
covered
by
guarantee
Whether
related
party.
of
conting
ent
claim
of any
mutual
dues,
that
may be
set- off
ks, if
any
I
II
III
IV
V
VI
VII
VIII
IX
X
XI
1
2
3
Page 23 of 32
FORM P11
INVITATION FOR RESOLUTION PLANS
(Under regulation 43 of the Insolvency and Bankruptcy (Pre-packaged Insolvency
Resolution Process) Regulations, 2021)
RELEVANT PARTICULARS
I
II
III
1
Name of the corporate debtor
2
Former name(s), if changed in last two years
3
Date of incorporation of corporate debtor
4
Authority under which corporate debtor is incorporated / registered
5
Identification number
6
Address of the registered office and principal office (if any) of corporate
debtor
7
Pre-packaged insolvency commencement date
8
Date of invitation for resolution plans
9
Eligibility for resolution applicants
10
Norms of ineligibility applicable under section 29A
11
Basis for evaluation (including details related to significant improvement
and tick size)
12
Manner of obtaining ‘invitation of resolution plan’, basis for evaluation
(including details related to significant improvement and tick size),
information memorandum and further information
13
Last date for submission of resolution plans
14
Manner of submitting resolution plans to resolution professional
15
Estimated date for submission of resolution plan to the Adjudicating
Authority for approval
16
Name and registration number of the resolution professional
17
Name, address and e-email of the resolution professional, as registered
with the Board
18
Address and email to be used for correspondence with the resolution
professional
19
Further details are available at or with
20
Date of publication of Form
(Signature)
Name of the resolution professional
Registration number
Registered address
Date:
Place:
Page 24 of 32
FORM P12
COMPLIANCE CERTIFICATE
(Under regulation 49 (1) of the Insolvency and Bankruptcy Board of India (Pre-packaged
Insolvency Resolution Process) Regulations, 2021)
I, [Name of the resolution professional], am the resolution professional for the pre-packaged
insolvency resolution process (PPIRP) of [name of the corporate debtor].
2. The details of the pre-packaged insolvency resolution process -
3. I have examined the resolution plan received from corporate debtor/third party resolution
applicant (………………………………..) and approved by the committee of [Name of the
corporate debtor].
4. I hereby certify that-
a. the said resolution plan complies with all the provisions of the Insolvency and
Bankruptcy Code 2016 (Code), the Insolvency and Bankruptcy Board of India (Pre-
packaged Insolvency Resolution Process) Regulations, 2021 and does not contravene
any of the provisions of the law for the time being in force.
b. the corporate debtor/third party resolution applicant (………………………………..)
has submitted an affidavit pursuant to section 30(1) of the Code confirming its eligibility
under section 29A of the Code to submit resolution plan. The contents of the said
affidavit are in order.
Sl. No.
Particulars
Description
I
II
III
1 Name of the corporate debtor
2 Date of commencement of PPIRP
3 Date of appointment of resolution professional
4 Date of publication of public announcement
5 Date of constitution of committee
6 Date of first meeting of committee
7 Date of appointment of registered valuers
8 Date of submission of base resolution plan
9 Date of invitation of resolution plans from third party
resolution applicant, if applicable
10 Date of inviting corporate debtor to improve its resolution
plan, if applicable
11 Date of issue of invitation for resolution plan (if
applicable)
12 Last date of submission of resolution plan
13 Date of approval of resolution plan by committee
14 Date of filing of resolution plan with Adjudicating
Authority
15 Date of expiry of one hundred and twenty days of PPIRP
16 Fair value
17 Liquidation value
18 Number of meetings of committee held
Page 25 of 32
c. the said resolution plan has been approved by the committee in accordance with the
provisions of the Code and the Regulations made thereunder. The resolution plan has
been approved by [state the number of votes by which resolution plan was approved by
committee] % of voting share of financial creditors after considering its feasibility and
viability and other requirements specified by the PPIRP Regulations.
d. the voting was held in the meeting of the committee on [state the date of meeting] where
all the members of the committee were present.
or
I sought vote of members of the committee by electronic voting system which was kept
open at least for 24/48 hours.
{strike off the part which is not relevant}
5. The list of financial creditors of the [name of CD] being members of the committee and
distribution of voting share among them
Sl.
No.
Name of creditor
Voting share
(%)
Voting for resolution plan
(voted for / dissented /
abstained)
I
II
III
IV
1
2
3
6. The resolution plan includes a statement under regulation 45 of the regulations as to how it
has dealt with the interests of all stakeholders in compliance with the Code and Regulations
made thereunder.
7. The amounts provided for the stakeholders under the resolution plan
(Amount in Rs. lakh)
Sl.
No.
Category
of
stakehold
er*
Sub-category
of
stakeholder
Amount
of claim
Amount
admitted
Amount
provided
under
the
plan#
Amount
provide
d to the
amount
claimed
(%)
I
II
III
IV
V
VI
VII
1 Secured
Financial
Creditors
(a) Creditors not having a
right to vote under sub-
section (2) of section 21
Page 26 of 32
(b) Other than (a) above -
(i) who did not vote in
favour of the resolution
plan
(ii) who voted in favour of
the resolution plan
Total[(a) + (b)]
2 Unsecured
Financial
Creditors
(a) Creditors not having a
right to vote under sub-
section (2) of section 21
(b) Other than (a) above -
(i) who did not vote in
favour of the resolution
plan
(ii) who voted in favour of
the resolution plan
Total[(a) + (b)]
3 Operation
al
Creditors
(a)
Related
Party
of
Corporate Debtor
(b) Other than (a) above -
(i)Government
(ii)Workmen
(iii)Employees
(iv) ………
Total[(a) + (b)]
4 Other
debts and
dues
Grand Total
*If there are sub-categories in a category, please add rows for each sub-category.
# Amount provided over time under the resolution plan and includes estimated value of non-
cash components. It is not Net Present Value.
8. The interests of existing shareholders have been altered by the resolution plan
Sl. No.
Category of
shareholder
No.
of
shares held
before
PPIRP
No.
of
shares held
after
the
PPIRP
Voting share
(%)
held
before
PPIRP
Voting
share
(%) held after
PPIRP
I
II
III
IV
V
VI
1
Equity
2
Preference
3
9. The compliance of the resolution plan
Page 27 of 32
Section
of
the Code /
regulation
No.
Requirement with respect to resolution plan
Clause of
resolution
plan
Complianc
e (Yes / No)
I
II
III
IV
section 29A
Whether the resolution applicant is eligible to submit
resolution plan as per final list of Resolution
Professional or Order, if any, of the Adjudicating
Authority. (whereas applicable)
section
30(1c)
Whether the Resolution Applicant has submitted an
affidavit stating that it is eligible. (if applicable)
section 30(2) Whether the resolution plan-
(a) provides for the payment of insolvency resolution
process costs;
(b) provides for the payment to the operational
creditors;
(c) provides for the payment to the financial creditors
who did not vote in favour of the resolution plan;
(d) provides for the management of the affairs of the
corporate debtor;
(e) provides for the implementation and supervision of
the resolution plan;
(f) contravenes any of the provisions of the law for the
time being in force.
section 54K
(4) or (12)
and
regulation 45
Whether the resolution plan-
(a) is feasible and viable, according to the committee;
(b) has been approved by the committee with 66%
voting share.
section 31(1)
Whether the resolution plan has provisions for its
effective implementation plan, according to the
committee.
regulation 41
Whether the resolution professional has made a
determination under regulation 41, before the forty
fifth day of the insolvency commencement date, under
intimation to the Board.
regulation
45(5)
Whether the amount due to the operational creditors
under the resolution plan has been given priority in
payment over financial creditors.
regulation
45(4)
Whether the resolution plan includes a statement as to
how it has dealt with the interests of all stakeholders.
regulation
45(1)
(i) Whether the Resolution Applicant or any of its
related parties has failed to implement or contributed
to the failure of implementation of any resolution plan
approved under the Code.
(ii) If so, whether the Resolution Applicant has
submitted the statement giving details of such non-
implementation.
regulation
45(2)
Whether the resolution plan provides for -
(a) the term of the plan and its implementation
schedule;
Page 28 of 32
(b) the management and control of the business of the
corporate debtor during its term;
(c) adequate means for supervising its implementation.
regulation
45(3)
Whether the resolution plan demonstrates that –
(a) it addresses the cause of default;
(b) it is feasible and viable;
(c) it has provisions for its effective implementation;
(d) it has provisions for approvals required and the
timeline for the same;
(e) the resolution applicant has the capability to
implement the resolution plan.
regulation
41(3)
Whether the RP has filed applications in respect of
transactions observed, found or determined by him.
regulation
43(5)
Provide details of performance security received, as
referred to in sub-regulation (5) of regulation 43.
section 54K
Where the base resolution plan has been approved by
committee,-
(i) whether such resolution plan provides for
impairment of any claims owed by the corporate
debtor;
(ii) if the base resolution plan provides for impairment
of any claims owed by the corporate debtor, whether
the such resolution plan provides for dilution of
promoter shareholding or voting or control rights in the
corporate debtor. If no, has the committee recorded the
reasons for the same prior to approval of such base
plan.
10. The time frame proposed for obtaining relevant approvals
Sl. No.
Nature of approval
Name
of
applicable law
Name
of
authority who
will
grant
approval
When
to
be
obtained
I
II
III
IV
V
1
2
3
11. The resolution plan is not subject to any contingency; or
the resolution plan is subject to the following contingencies (Elaborate the contingencies):-
i…………………………………………………………………
ii………………………………………………………………...
12. Following are the deviations / non-compliances of the provisions of the Insolvency and
Bankruptcy Code, 2016, Regulations made, or Circulars issued thereunder (If any deviation/
non-compliances were observed, please state the details and reasons for the same):-
Page 29 of 32
Sl.
No.
Deviation/Non-
compliance observed
Section of the Code /
regulation
No.
/
circular No.
Reasons
Whether rectified
or not
I
II
III
IV
V
1
2
3
13. The resolution plan is being filed ….. days before the expiry of the period of PPIRP.
14. Provide details of section 66 or avoidance application filed / pending, if any.
Sl.
No.
Type of transaction
Date
of
filing
with
Adjudicating
Authority
Date of order of
the
Adjudicating
Authority
Brief of the
order
I
II
III
IV
V
1 Preferential
transactions
under section 43
2 Undervalued
transactions
under section 45
3 Extortionate
credit
transactions under section
50
4 Fraudulent
transactions
under section 66
15. I (name of resolution professional) hereby certify that the contents of this certificate are
true and correct to the best of my knowledge and belief, and nothing material has been
concealed therefrom.
(Signature)
Name of the resolution professional:
IP Registration No:
Address as registered with the Board:
Email Id as registered with the Board:
AA: Adjudicating Authority; Committee: Committee of Creditors; IFRP: Invitation for
Resolution Plan; IM: Information Memorandum; PPIRP: Pre-packaged insolvency resolution
process; RA: Resolution Applicant; RP: Resolution Professional.
Page 30 of 32
FORM P13
APPLICATION FOR TERMINATION OF PRE-PACKAGED INSOLVENCY
RESOLUTION PROCESS
(Under regulation 49(4) of the Insolvency and Bankruptcy Board of India (Pre-packaged
Insolvency Resolution Process) Regulations, 2021)
[Date]
To
The Adjudicating Authority
[ __________ Bench]
From
[Name of the insolvency professional]
[Registration number of the insolvency professional]
[Registered address of the insolvency professional]
In the matter of [name of the corporate debtor]
Subject: Termination of pre-packaged insolvency resolution process of [name of corporate
debtor]
Madam/Sir,
The [name of the corporate debtor], had filed an application bearing [particulars of
application, having, [diary number/ case number] on [date of filing] before the Adjudicating
Authority under [under section 54C,] of the Insolvency and Bankruptcy Code, 2016. The
said application was admitted by the Adjudicating Authority on [date] bearing [case
number].
2. The committee of creditors has, in its meeting held on _______________, decided to
terminate the aforementioned pre-packaged insolvency resolution process filed by the [name
of the corporate debtor] under sub-section (2) of section 54N.
OR
No resolution plan was submitted within the period permitted for approval of resolution plan
under sub-section (3) of section 54D.
OR
The resolution plan selected under sub-section (11) of section 54K has not been approved by
the committee of creditors under sub-section (12) of section 54K
{strike off the part which is not relevant}
3. I hereby attach the report of termination of the pre-packaged insolvency resolution process.
(Signature)
Name of the resolution professional:
IP Registration No:
Address as registered with the Board:
Email Id as registered with the Board:
Page 31 of 32
Date:
Place:
Page 32 of 32
FORM P14
APPLICATION FOR VESTING MANAGEMENT WITH RESOLUTION
PROFESSIONAL
(Under regulation 51 of the Insolvency and Bankruptcy Board of India (Pre-packaged
Insolvency Resolution Process) Regulations, 2021)
[Date]
To
The Adjudicating Authority
( ________ Bench)
From [Name of the insolvency professional]
[Registration number of the insolvency professional]
[Registered address of the insolvency professional]
In the matter of [name of the corporate debtor]
Subject: Vesting of management of [name of corporate debtor] with resolution professional.
Madam/Sir,
[Name of the corporate debtor], had filed an application bearing [particulars of application,
having, diary number/ case number] on [date of filing] before the Adjudicating Authority
under [under section 54C,] of the Insolvency and Bankruptcy Code, 2016 (Code). The said
application was admitted by the Adjudicating Authority on [date] bearing [case number].
2. The committee of creditors has, in its meeting held on _______________, decided to vest
the management of the [Name of the Corporate Debtor] with the resolution professional under
section 54J of the Code for the following reason(s):-
a.
b.
3. I hereby attach the minutes of the meeting of committee of creditors held on
_________________ .
(Signature)
Name of the Resolution Professional:
IP Registration No:
Address as registered with the Board:
Email Id as registered with the Board:
Date:
Place:
*****
