Document text
Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001
CIRCULAR
No. IBBI/CIRP/023/2019
14th August, 2019
To
All Registered Insolvency Professionals
All Recognised Insolvency Professional Entities, and
All Registered Insolvency Professional Agencies
(By mail to registered email addresses and on website of the IBBI).
Dear Madam / Sir,
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 thereunder.
The objective of the Insolvency and Bankruptcy Code, 2016 (Code) is time bound
reorganisation and insolvency resolution of firms for maximisation of value of assets of the
firm in distress to promote entrepreneurship and availability of credit and balance the interests
of all its stakeholders. The first order objective of the Code is resolution. The second order
objective is maximisation of value of assets of the firm and the third order objective is
promoting entrepreneurship, availability of credit and balancing the interests of stakeholders.
This order of objectives is sacrosanct (Judgement dated 14th November, 2018 of the NCLAT in
the matter of Binani Industries Limited Vs. Bank of Baroda & Anr.). The Code bifurcates and
separates the interests of the firm from that of its promoters / management with primary focus
to ensure revival and continuation of the firm by protecting it from its own management and
from a death by liquidation (Judgement dated 25th January, 2019 of the Supreme Court of India
in the matter of Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.).
2. The Code is a paradigm shift in the law. Entrenched managements are no longer allowed to
continue in management if they cannot pay their debts (Judgement dated 31st August, 2017 of
the Supreme Court in the matter of M/s. Innoventive Industries Ltd. Vs. ICICI Bank & Anr.).
The Code prevails over every other law in case of any inconsistency between the two
(Judgement dated 9th August, 2019 of the Supreme Court in the matter of Pioneer Urban Land
and Infrastructure Limited and Anr. Vs. Union of India & Ors.). The Code is the mandate of
the nation (Order dated 10th April, 2017 of the NCLT in the matter of DF Deutsche Forfait AG
and Anr. Vs. Uttam Galva Steel Ltd.).
3. The Code provides a complete mechanism for its implementation. It assigns specific
responsibilities to an insolvency professional (IP) for its implementation and realisation of its
objectives. An IP plays an important role in resolution, liquidation and bankruptcy processes
of companies, LLPs, partnership firms, proprietorship firms and individuals. He exercises the
powers of the Board of Directors of the corporate debtor (CD) undergoing corporate insolvency
resolution process (CIRP) and complies with applicable laws on its behalf. Section 20 of the
Code requires him to make every endeavour to protect and preserve the value of the property
of the CD and manage its operations as a going concern. Section 23 requires him to conduct
the entire CIRP and manage the operations of the CD. A whole array of statutory and legal
duties and powers is vested in him. He is the fulcrum of an insolvency proceeding and the link
between the Adjudicating Authority (AA) and the stakeholders.
4. The Code facilitates and empowers the IP to discharge his responsibilities effectively. It
obliges every officer of the CD to report to him. It also obliges the promoter of the CD to extend
all assistance and cooperation to him. There is an assurance of supply of essential goods and
services to, and a moratorium on proceedings against, the CD. The Code empowers the IP to
appoint professionals to assist him. He can seek orders from the AA if he comes across any
preferential, undervalued, extortionate, or fraudulent transaction. In order to ensure that an IP
performs his role, the Code empowers the Insolvency and Bankruptcy Board of India (IBBI)
and the Insolvency Professional Agency (IPA) to monitor his performance. It provides for
appropriate sanctions for any kind of wrongdoing. Though a client proposes the name of an IP
for appointment, he is appointed by the AA. He may be removed from a process by the AA if
it is not satisfied with his performance. The appointment and removal by the AA secure and
sanctify the position of the IP. He has protection of actions taken in good faith under the Code
and the Regulations made thereunder. His conduct can only be inspected / investigated by the
IBBI / IPA which has to follow due process for the purpose. There is a bar under the Code on
trial of offences against an IP except on a complaint filed by the IBBI / Central Government,
before the special court.
5. Keeping in view the responsibilities of the IPs, the Code provides for monitoring of their
performances. It casts a duty on the IBBI and the IPA to monitor performance of IPs, and
collect, maintain and disseminate information and records relating to insolvency and
bankruptcy processes. It requires the IBBI to perform the following functions, among others, -
(a) monitor the performance of IPs and pass any direction as may be required for compliance
of the provisions of the Code and the regulations issued thereunder [section 196(1)(g)];
(b) call for any information and records from the IPs [section 196(1)(h)];
(c) collect and maintain records relating to insolvency and bankruptcy cases and disseminate
information relating to such cases [section 196(1)(k)];
(d) maintain websites and such other universally accessible repositories of electronic
information [section 196(1)(n)];
(e) issue necessary guidelines to the IPs [section 196(1)(p)]; and
(f) conduct periodic study, research and audit of the functioning and performance of the IPs
[section 196(1)(r)].
6. The Code casts obligations on IPs to forward/submit the following information and records
relating to CIRP to the IBBI:
(a) all records relating to the conduct of the CIRP and the resolution plan [section 31(3)(b)];
and
(b) a copy of the records of every proceeding before the AA [section 208(2)(d)].
7. In order to facilitate submission of records and information by IPs to the IBBI as well as for
monitoring of the processes and performance of IPs, a set of Forms were devised in
consultation with stakeholders and the IPAs, in pursuance of the mandate and in
synchronisation with the provisions in the Code. These Forms were put out in public domain
on 27th April, 2018 and the comments received have been considered. These Forms have since
been finalised in consultation with the IPAs. An overview of these Forms, as annexed to this
Circular, is as per the Table below:
Table
Form
No.
Period Covered and Scope
To be
Filed by
Timeline
(1)
(2)
(3)
(4)
IP 1
Pre-Assignment: This includes consent to accept
assignment of an IP as IRP / RP / Liquidator / Bankruptcy
Trustee, the details of IP and the Applicant, the details of the
person which will undergo the process, terms of consent,
terms of engagement, filing of application before AA and
withdrawal before admission, etc.
IP
Within
three
days
of
the
relevant date.
CIRP 1 From Commencement of CIRP till Issue of Public
Announcement: This includes details of IRP, CD, and the
Applicant, admission of application by AA, public
announcement,
details
of
suggested
Authorised
Representatives, non-compliances with the provisions of
the Code and other laws applicable to the CD, etc.
IRP
Within
seven
days of making
Public
Announcement
under
section
13.
CIRP 2 From Public Announcement till replacement of IRP:
This includes details of Authorised Representative selected
by IRPs for a class of creditors, taking over management
of the CD, receipt and verification of claims, constitution
of Committee of Creditors (CoC), first meeting of CoC,
confirmation / replacement of IRP, applications seeking
co-operation of management (if any), expenses incurred on
or by IRP, relationship of IRP with the CD, financial
creditors and Professionals, support services sought from
IPE, non-compliances with the provisions of the Code and
other laws applicable to the CD, etc.
IRP
Within
seven
days
of
replacement of
IRP.
CIRP 3 From Appointment of RP till issue of Information
Memorandum (IM) to Members of CoC: This includes
details of RP, details of registered valuers, handing over of
records of CD by IRP to RP, taking over management of
the CD, applications seeking co-operation of management
(if any), details in IM, non-compliances with the
provisions of the Code and other laws applicable to the CD,
etc.
RP
Within
seven
days of issue of
IM to members
of CoC.
CIRP 4 From Issue of IM till issue of Request for Resolution
Plans (RFRP): This includes expression of interest,
request for resolution plans (RFRP) and modification
thereof, evaluation matrix, non-compliances with the
provisions of the Code and other laws applicable to the CD,
if any, etc.
RP
Within
seven
days
of
the
issue of RFRP.
CIRP 5 From Issue of RFRP till completion of CIRP: This
includes updated list of claimants, updated CoC, details of
the resolution applicants, details of resolution plans
received, details of approval or rejection of resolution
RP
Within
seven
days
of
the
approval
or
rejection of the
plans by CoC, application filed with AA for approval of
resolution plan; details of resolution plan approved by the
AA, initiation of liquidation, if applicable, expenses
incurred on or by RP, appointment of professionals and the
terms of appointment, relationship of the RP with the CD,
financial creditors, and professionals, support services
sought from IPE, non-compliances with the provisions of
the Code and other laws applicable to the CD, if any, etc.
resolution plan
or issue of order
for liquidation,
as the case may
be, by the AA.
CIRP 6 Event Specific: This includes:
a. Filing of application in respect of preferential
transaction,
undervalued
transaction,
fraudulent
transaction, and extortionate transaction;
b. Raising interim finance;
c. Insolvency resolution process of guarantors;
d. Extension of period of CIRP and exclusion of time;
e. Premature closure of CIRP (appeal, settlement,
withdrawal, etc.);
f. Request for liquidation before completion of CIRP;
and
g. Non implementation of resolution plan as approved by
the AA.
IRP or
RP, as
the case
may be.
Within
seven
days
of
the
occurrence
of
event.
8. The IBBI has developed, in consultation with the IPAs, an electronic platform for filing of
the Forms above said. The said platform is hosted on the website of the IBBI at
https://www.ibbi.gov.in. It is open for filings from 16th September, 2019. An IP shall access
the said platform with the help of a unique username and password provided to him by the
IBBI and upload / submit the Forms, along with relevant information and records, after affixing
DSC or after e-signing.
9. It is directed that an IP shall file electronically -
a. the Forms along with relevant information and records, which have become due on or
before 15th September, 2019 in respect of all CIRPs, both closed and ongoing, conducted by
him, by 30th September, 2019; and
b. the Forms along with relevant information and records, which will become due on or after
16th September, 2019 in respect of CIRPs conducted by him, by the timelines as specified in
the Table under Para 7 above.
10. It is clarified that -
(a) an IP shall be liable to action permissible under this Circular read with the applicable
provisions of the Code and the Regulations made thereunder for:
(i) failure to file a Form along with relevant information and records,
(ii) inaccurate and incomplete information and/or records filed in or along with a Form,
and
(iii) delay in filing;
(b) the action under (a) includes refusal to issue or renew authorisation for assignment; and
(c) timely filing of complete and accurate information along with information and records is
the sole responsibility of the IP.
11. It is further directed that an IPA shall-
(a) monitor filings by its members and, based on the same, take action against the member
who fails to file a Form along with relevant information and records when it is due;
(b) scrutinise at least 10% of Forms, filed by its members in a month, selected on random
basis and, based on the same, take action against the member for any-
(i) inaccurate or incomplete information and records filed along with a Form, and
(ii) non-compliances with the Code and the Regulations made thereunder, as observed
from the information and records filed along with a Form; and
(c) submit a quarterly summary report in respect of (a) and (b) to the IBBI within 15 days of
the close of quarter.
This is without prejudice to monitoring and scrutiny of filings and actions, as may be taken by
the IBBI.
12. This is issued in exercise of the powers under clauses (aa), (g), (h), (k), (n), (p) and (r) of
sub-section (1) of section 196 read with sections 31(2)(b) and 208(2)(d) of the Insolvency and
Bankruptcy Code, 2016, and in consultation with the Insolvency Professional Agencies.
Yours faithfully,
Sd/-
(Methil Unnikrishnan)
General Manager
Email: m.unnikrishnan@ibbi.gov.in
Encl.: Annexures: Forms IP 1 and CIRP 1 to CIRP 6.
Post-script:
1. The filing of Forms on the platform on test basis will be available from 15th August, 2019 to
15th September, 2019. The regular filing will commence on 16th September, 2019.
2. The IPAs shall conduct workshops for its professional members, as may be required, to
facilitate filings by them under this Circular and to migrate the data relating to costs and
disclosures already filed by them.
3. Helpline will be available to assist the IPs in filing the Forms till 30th September, 2019. An
IP may contact the helpline provided by the IPA, of which he is a member, at the first instance.
If any difficulty of the IP is not fully addressed by the IPA, the IP may contact the helpline of
the IBBI. The helpline details are as under:
Sl.
No.
Agency
Name of Officer
E-mail id
Telephone
Number
1
IIIP ICAI
CS Shivani Jasmatiya iiipi.helpdesk@icai.in
8178995138
2
ICSI IIP
Shikha Sukhija
reporting@icsiiip.com
011-45341041
3
IPA ICMAI
Anchal Jindal
ra@ipaicmai.in
011-24666154
4
IBBI
Manpreet Kaur
manpreet.k92@ibbi.gov.in 011-23462947
Sd/-
(Methil Unnikrishnan)
General Manager
Annexure-1
FORM – IP 1
(To be submitted to the Board within 3 days of relevant date)
Date of filing
application with the
Adjudicating
Authority
Due date of Form
Delay in submission
of Form (Number of
days)
Reasons for delay
A. Insolvency Professional
1. Details as per IBBI records:
a. I.P. Registration No.:
b. Name:
c. Address:
d. Email Id:
e. Mobile no.
2. Date on which consent to act as an IRP/RP/Liquidator/Bankruptcy Trustee given:
B. Process for which IP is being engaged (CIRP/Liquidation/Voluntary Liquidation/Individual
Insolvency):
C. Initiated under Section (7/9/10/33/55/59):
D. In case of CIRP/Liquidation/Voluntary Liquidation
Corporate Debtor
1. Name of the Corporate Debtor:
2. CIN/LLPIN of Corporate Debtor:
3. Industry/Sector:
4. Date of incorporation:
5. Address of the registered office of the Corporate Debtor:
6. Address of the principal office of the Corporate Debtor, if any:
7. Address of the corporate office of the Corporate Debtor, if any:
8. Registered email Id of the Corporate Debtor:
9. Names of promoters of Corporate Debtor:
E. In case of CIRP, please furnish the details below
1. Applicant (Financial Creditor/Operational Creditor/Corporate Debtor):
2. Details of applicant:
a. Name of the person(s):
b. Address:
c. Contact no.:
F. In case of Liquidation, please furnish the details below:
S. No
CoC member(s) – upto five based on voting
share
Voting share (%)
G. In case of Voluntary Liquidation, date of resolution of CD appointing IP as liquidator:
H. In case of Insolvency of Individuals and Partnership Firms, please furnish the details
below:
1. Applicant:
2. Details of person which will undergo the process:
a. Name of the person:
b. Address:
c. Contact no.:
I. Terms of engagement of IP
S. No
Date of
appointment
Fee to be paid to IP
Other terms, if any
J. Details of bench of AA
S. No
Bench where
Application filed
Date of filing
Application No.
Amount of
initial default
(wherever
applicable)
K. Details of withdrawal of application
1. Date on which application for withdrawal made:
2. Date of order of the AA allowing withdrawal:
3. Amount of settlement (Rupees):
4. Details of settlement:
Attachments:
1. Copy of written consent given by IP to act as IRP/RP/Liquidator/Bankruptcy Trustee
Declaration
It is certified that the information given in Form- IP- 1 is true and correct and based on the petition
filed with AA/ resolution passed by the CD, as the case may be.
*To be digitally signed/ e-signed by IP
*IP registration number:
Date:
Place:
Annexure-2
FORM – CIRP 1
(To be submitted to the Board by the IRP online within 7 days of the Public Announcement)
Date of Public
Announcement
Due date of Form
Delay in submission
of Form (Number of
days)
Reasons for delay
A. Corporate Debtor
1. Name of the Corporate Debtor:
2. CIN/LLPIN of Corporate Debtor:
3. Industry/Sector:
4. Date of incorporation:
5. Address of the registered office of the Corporate Debtor:
6. Address of the principal office of the Corporate Debtor, if any:
7. Address of the corporate office of the Corporate Debtor, if any:
8. Registered email Id of the Corporate Debtor:
9. Names of promoters of Corporate Debtor:
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 Resolution Professional
1. Details as per IBBI records:
f. I.P. Registration No.:
g. Name:
h. Address:
i.
Email Id:
j.
Mobile no.
2. Whether IRP appointed is independent of CD, as per regulation 3(1) (Yes/No)
3. Whether disclosure of relationship has been made to IPA as per disclosure circular (Yes/ No)
If yes, date of submission of disclosure:
4. Expenses agreed to be incurred on or by IRP fixed by (Applicant/Adjudicating Authority):
5. Whether IRP is a partner or a director of an IPE (Yes/No)
If Yes,
a. Name of the IPE
b. Whether all directors and partners of the IPE are independent of CD, as per regulation
3(1) (Yes/No)
c. Whether disclosure of relationship of IPE has been made to IPA as per disclosure
circular (Yes/No)
If yes, date of submission of disclosure:
C. Admission of application by AA
1. Application/Petition No.:
2. Date of filing to AA:
3. Bench:
4. Name of the Applicant/Petitioner:
5. Address of the Applicant/Petitioner:
6. Application filed under Section:
7. In case of section 9, whether the name of IRP is proposed by the operational creditor
(applicant) (Yes/No)
8. Date of admission:
9. Date of AA Order appointing the IRP:
10. Date of receipt of order by IRP:
11. Amount of underlying default for which petition has been admitted (Rupees):
12. Since when the amount in default is outstanding:
D. Public Announcement
1. Date of issue:
2. Details of publication of Public Announcement:
Location
Language
Name of
newspaper
Edition, if
any
Date
Registered
Office
English
Regional Specify
language
Principal
Office, if any
English
Regional Specify
language
Any other
place of
operation
Specify___
English
Regional
Specify
language
Website of
the
Corporate
Debtor
Website
designated
by the Board
3. Date of sending copy of PA to the Board:
4. Number of days taken for issuing PA:
5. Delay (days) in issuance of PA vis-à-vis timelines, if any:
6. Reasons for delay, if any:
7. Mode of sending PA to the Board (Hand delivery/Post/Email/others):
8. Estimated date of closure of insolvency resolution process:
9. Last date for submission of claims:
10. Number of days given for submission of claims:
11. Delay/Additional days for submission of claims vis-à-vis timelines, if any:
12. Reasons for delay, if any:
13. Whether the details indicated in PA same as IBBI records: (Yes / No)
If no,
a. Address (for correspondence), if any:
b. Email Id (for correspondence), if any:
c.
Mobile No. (for correspondence), if any:
14. 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. IPs identified to be selected as an AR for each class:
S.
No.
Class of
Creditors
IPs identified to be selected as AR
Name of IP
IP registration number
1.
Name of AR 1
Name of AR 2
Name of AR 3
2.
Name of AR 1
Name of AR 2
Name of AR 3
15. Cost incurred on Public Announcement (Rupees):
16. Details of Deviations/Non-Compliances of the provisions of Code, regulations, circulars or
other laws applicable to the CD:
Legal
Provisions
Deviation/N
on-
compliance
Section/Regulat
ion/Circular
Reasons Period of
non-
compliance
Whether
rectified or not
IBC
CIRP
Regulations
IP Regulations
Circulars
Other laws
applicable to
the CD
[ For example-
Companies
Act, SEBI Act,
SCRA, Others
(pls. specify)
17. Details of orders passed by Courts/ Tribunals:
Order
(Interim/Final)
Date of
order
Authority
passing the
order
Abstract of order
18. Whether any application filed under the Section 12A (Yes/ No):
Attachments
1. Application filed with the AA.
2. AA order admitting the application.
3. AA order appointing the Interim Resolution Professional.
4. Form A (Public Announcement) under CIRP Regulations, 2016.
5. Form AB (Written consent to act as AR) under CIRP Regulations, 2016.
6. Cost and relationship disclosure made to IPA.
7. Form FA (Application for withdrawal of CIRP) under CIRP Regulations, 2016, if any.
8. Orders of the Court/Tribunal, if any.
9. Other documents, if any.
Declaration
1. I, [Name of IRP] having IP registration number [Registration no.], was appointed as an Interim
Resolution Professional, vide NCLT order dated [mention date] in application number [mention
application number] dated [ mention date of appointment of IRP], under section 16 of the
Insolvency and Bankruptcy Code.
2. 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:
Annexure-3
FORM – CIRP 2
(To be submitted to the Board by the IRP online within 7 days of replacement of IRP)
Date of replacement
of IRP
Due date of Form
Delay in submission
of Form (Number of
days)
Reasons for delay
A. Corporate Debtor
1. Name of the Corporate Debtor:
2. CIN/LLPIN of Corporate Debtor:
3. Whether Corporate Debtor is listed (Yes/ No):
If yes,
a. Primary Stock Exchange:
b. Whether suspended at stock exchange (Yes/No):
i. If yes, Date of suspension:
ii. Whether the suspension is restored (Yes/No):
iii. If yes, Date of restoration of suspension:
4. Date of the last audited balance sheet:
B. Custody of Corporate Debtor
1. Has IRP taken into custody all records and assets relating to CD? (Yes/ No)
If no, whether application made u/s 19(2) of the Code, to the AA (Yes /No):
If no, specify the reasons:
C. Claims of Creditors
1. Whether list of creditors prepared by IRP (Yes/ No):
If yes, (please furnish the details below):
(Amount in Rupees)
Credi
tor
Clai
man
t
(Sec
ured/
Unse
cure
d/
Cont
inge
nt)
Re
lat
ed
pa
rty
of
the
C
D
(Y
es/
No
)
Identi
ficatio
n
Numb
er, if
any
Dat
e of
cre
atio
n of
sec
urit
y
inte
rest
Natu
re of
asset
on
whic
h
secu
rity
inter
est
creat
ed, if
any
Valu
e of
secur
ity at
the
time
of
agre
emen
t
Lia
bilit
y as
per
boo
ks
of
acco
unts
Total Claims
made by the
creditors
Total Claims
admitted by the
IRP
Pri
nci
pal
Inter
est
Tot
al
Pri
nci
pal
Int
ere
st
Tota
l
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Finan
cial
Credi
tors
F1
F2
..
Total
FCs
Class
of
Credi
tors
Class
1
Class
2
……
Total
Class
of
FCs
Oper
ation
al
Credi
tors
for
Good
s/
Servi
ces/
Statut
ory
dues/
work
men
&
emplo
yees
dues)
O1
O2
..
Total
OCs
Any
other
credit
or
C1
C2..
Total
Credi
tors
Gran
d
Total
If no, state the reasons
2. Date of filing of list of creditors with the AA:
3. Date of uploading the list of creditors on the website of the CD:
If not uploaded, state the reasons
D. Whether there are representatives of FCs (Yes/ No)
If yes, (please furnish the details below):
S.
No.
Appoi
ntment
under
Sectio
n
[21(6)/
24(5)]
Name
of the
Repres
entativ
e
Whether
Representat
ive is an IP
Description of
creditors
Whether
representative related
party of CD
Yes/
No
If
yes,
IP
regis
tratio
n
num
ber
Repre
sentin
g
[class
of
credit
or/
FC]
Num
ber of
Credi
tor in
the
Class
Total
Votin
g
Share
Yes/
No
Specify
section
[sections of
5(24)]
E. Whether there are Authorised Representatives of FCs (Yes/ No)
If yes, (please furnish the details below):
F. Whether there are representative(s) of OCs in CoC (Yes / No)
If yes, (please furnish the details below):
S.
No.
Appointment under Section/
Regulation:
Section 24(3)(c )/
Reg. 16(2)(b) /Reg. 16(2)(c)
Name of
Representative
Number of OCs
represented.
Percentage
of debt of
OCs,
if
any
Total
Voting
Share
(1)
(2)
(3)
(4)
(5)
(6)
G. Constitution of CoC
Date of constitution:
Total members ……..
Financial Creditors
Operational Creditors (if all FCs are related
parties of CD or there is no FC)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
S.
No
.
Appointm
ent under
Section:
21(6A)(a)
21(6A)(b)
21(6A)(c)
Nam
e of
AR
Wheth
er AR
is an IP
(Yes/
No)
If yes
IP
registrati
on
number
Application and
Order for
appointment of AR
Number
of days
taken for
filing
applicati
on
Delay
in
numb
er of
days
for
filing
Reaso
ns for
delay
Date
of
applicati
on to AA
Date of
Order
appointi
ng AR
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Status
Name of FC
Number of
FCs in class
of creditor
Voting
Share
(%)
Status Name of
OC
Number
of
OCs in class
of creditor
Voting
Share (%)
FC1
OC1
FC2….
OC2
…OC
18
Class 1
Work
men
Class 2
Empl
oyees
Class 3….
Other
s
Total
Total
1. Date of submission of report on constitution of CoC to AA:
2. Number of days taken for submission of report to AA :
3. Delay in number of days vis-à-vis timelines, if any:
4. Reason for delay, if any:
H. First Meeting of the CoC
1. Date of meeting:
2. Number of days taken for conducting first CoC meeting:
3. Delay in number of days vis-à-vis timelines, if any:
4. Reason for delay, if any:
5. Date of service of notice of meeting:
6. Whether minimum 5 days’ notice period given for meeting under Regulation 19(1)
(Yes/No)
If no, Approval from CoC to serve the notice for shorter period taken? (Yes/No)
If approval not taken, specify reasons:
7. Whether Notice sent to:
a. CoC members (yes/ no)
b. Suspended Board of Directors/Partners (LLP) (yes/ no)
c. OCs where value of debt is more than 10 % of total debts, if any (yes/ no)
d. AR of Class of creditors, if any (yes/ no)
e. IP for any FC u/s 24(5), if any (yes/ no)
f. Representative(s) of FCs, if any (yes/ no)
g. Representative(s) of OC(s), if any (yes/ no)
h. Others, if any (yes/ no)
I. Confirmation/Replacement of IRP
1. Whether the IRP is confirmed as RP (Yes/No)
If yes, date of confirmation:
If no, whether IRP is replaced (Yes/No)
If yes, please furnish the details of RP:
a. IP Registration Number
b. Name of the RP
c. Email Address
d. Mobile Number
If no, whether IRP was performing functions of RP as per Regulation 17(3) (Yes/ No)
J. Whether application seeking Cooperation of Management u/s 19(2) made to AA (Yes/
No)
1. If yes, furnish the details below:
a. Application Number
b. Date of filing
c. Date of Order
2. Whether appeal, if any filed against the order (Yes/ No)
If yes, furnish the details below:
a. Name of Appellate Authority
b. Appeal No.
c. Date of filing of appeal
d. Date of order
3. Whether appeal, if any filed against order of first Appellate Authority (Yes/ No)
If yes, furnish the details below:
a. Name of Appellate Authority
b. Appeal No.
c. Date of filing of appeal
d. Date of order
K. Application filed seeking assistance of local district administration under Regulation 30
(Yes/ No)
1. If yes, furnish the details below:
a. Application Number:
b. Date of filing:
c. Date of Order:
2. Whether appeal, if any filed against the order (Yes/ No)
If yes, furnish the details below:
a. Name of Appellate Authority:
b. Appeal No.:
c. Date of filing of appeal:
d. Date of order:
3. Whether appeal, if any filed against order of first Appellate Authority (Yes/ No)
If yes, furnish the details below:
a. Name of Appellate Authority:
b. Appeal No.:
c. Date of filing of appeal:
d. Date of order:
L. Expenses incurred by or on Interim Resolution Professional
Expense Head Expenses
Expenses paid or
agreed to be paid
Approved by COC
(Yes/ No)
Amount
incurred
Amount
paid
IRP
Fee payable to IRP
Cost of insurance for
IRP
Other Expenses on/
for IRP (travel, stay,
security etc. related
expenses)
IPE
Fee, if any, payable to
an IPE for support
services
Registered
Valuer
Fee payable to Valuer
1
Fee payable to Valuer
2
Fee payable to Valuer
3, if any
Other Expenses on/
for IRP (travel, stay,
out of pocket
expenses etc.)
Other
Professional
Fee Payable to
accounting and
finance professional
Fee Payable to audit
professional
Fee payable to legal
professional/ attorney
Fee payable to any
other professional
Fee
payable
to
authorised
representative
Other expenses on /
for professionals
COC
Expense for meeting
venue
Expense for electronic
voting
Expense for video
conferencing
Any other expense
related to CoC
Other
Expenses
Expenses on Public
Announcement
Expenses for filings
before
Adjudicating
Authority
including
Court fee
Expenses
for
verification of claims
CIRP related litigation
Other expenses, if any
Essential
Services
Electricity
Water
Telecommunication
services
Information
Technology services
Other
essential
services, if any
Other
Services
Other supplies
Employees
and
workmen
Security
Personnel
Services
Other expenses, if nay
Interim
Finance
Amount of interim
finance
Expenses for raising
interim finance
Interest payable on
interim finance
Other
expenses
Other matters
Penalties,
if
any,
payable
for
non-
compliance
M. Disclosure of relationship of the interim resolution professional, if any
1 Legal firm that has any or had any transaction with the Corporate Debtor amounting to five percent or more of
the gross turnover of such firm in the last three financial years.
Relationship of
the Interim
Resolution
Professional
with
Name
Nature
of
relationship
Description
of
relationship
Corporate Debtor
Financial
Creditor
FC1
FC2..
Authorised
Representative(s)
AR1
AR 2
Corporate
Guarantor, if any
Operational
Creditor, if any
OC1
OC2
….
Interim Finance
Provider, if any
Accountant(s)
Legal
Professional(s)
Other
Professional(s)
Firm of auditors
of
Corporate
Debtor (in the
last 3 financial
years)
Secretarial
auditors
in
practice of the
Corporate Debtor
(in the last three
financial years)
Cost Auditors of
Corporate Debtor
(in the last three
financial years)
Legal Firm1 (in
the
last
three
financial years)
N. Support services sought from IPE, if any. (Yes/No)
If yes, Provide details of IPE
a. Name of IPE:
b. Relationship with IPE, if any:
c. Nature of relationship:
d. Whether appointed at arms’ length relationship (yes/no):
O. Are you a partner or a director of an IPE? (Yes/No)
If yes, furnish the details:
a. Name of the IPE:
b. Whether all directors and partners of the IPE are independent of CD, as per regulation
3(1) (Yes/No)
c. Whether disclosure of relationship of IPE has been made to IPA as per disclosure circular
(Yes/No)
If yes, date of submission of disclosure:
d. Disclosure of relationship of IPE
2 Consulting firm that has any or had any transaction with the Corporate Debtor amounting to five percent or
more of the gross turnover of such firm in the last three financial years.
3 Legal firm that has any or had any transaction with the Corporate Debtor amounting to ten percent or more of
the gross turnover of such firm in the last three financial years.
Consulting Firm2
(in the last three
financial years)
Relationship of all
the Partners and
Directors of IPE
with
Name
Nature of relationship
Description
of
Relationship
Corporate Debtor
Firm of auditors of
Corporate Debtor (in
the last 3 financial
years)
Secretarial
auditors
in practice of the
Corporate Debtor (in
the
last
three
financial years)
Cost
Auditors
of
Corporate Debtor (in
the
last
three
financial years)
Legal Firm3 (in the
last three financial
years)
P. Support sought from any professional(s)? (Yes/ No)
S.
No.
Name of
Professional
Nature of
profession
Date of
appointment
Term of
appointment
From ___ to
___
Scope of
engagement
Professional fees
paid/agreed to be paid
(Rupees)
Other
expenses,
if
any,
paid/
agreed to
be
paid
(Rupees)
Whether
appointed at
arms’ length
relationship?
(Yes/ No)
Quantum Basis
(hourly/daily
etc.)
Q. Disclosure of relationship of the professional
Disclosure of relationship of Mr./ Ms/Mrs. _____________, with:
4Consulting firm that has any or had any transaction with the Corporate Debtor amounting to ten percent or
more of the gross turnover of such firm in the last three financial years.
Consulting Firm4 (in
the
last
three
financial years)
Relationship of the Professional
with
Name
Nature
of
Relationship
Description
of
relationship
1.
Corporate Debtor
2.
Corporate Guarantor, if any
3.
Insolvency Professional
4.
Insolvency Professional Entity
(If associated with, any)
5.
Financial Creditor(s)
6.
Interim Finance Provider(s)
R. Details of orders passed by Courts/ Tribunals:
Order
(Interim/Final)
Date of
order
Authority
passing the
order
Abstract of order
S. Details of Deviations/Non-Compliances of the provisions of Code, regulations, circulars
or other laws applicable to the CD:
Legal
Provisions
Deviation/N
on-
compliance
Section/Regulat
ion/Circular
Reasons Period of non-
compliance
Whet
her
rectifi
ed or
not
IBC
CIRP
Regulations
IP
Regulations
Circulars
Other laws
applicable to
the CD
[ For
example-
Companies
Act, SEBI
Act, SCRA,
Others ( pls.
specify)
T. Other details
Whether resolution under the Section (12A/ 33(2)/others) was passed by CoC (yes/no)
U. Remarks, if any
Attachments
1. List of creditors along with the details of the claims submitted with the AA.
2. Report certifying constitution of the committee of creditors.
3. Latest Audited financial statements of CD.
4. Minutes of all COC meetings.
5. AA’s order admitting application for CIRP.
6. AA’s order for Section 19(2) application, if any.
7. AA’s order for application under Regulation 30, if any.
8. AA order for replacement of IRP by RP, if any.
9. All the applications filed before AA, if any.
10. All the orders passed by AA, if any.
11. All the applications filed before courts, if any.
12. All the orders passed by courts, if any.
13. Progress Reports filed to Adjudicating Authority by the IRP.
14. Cost Sheet prepared by IRP.
15. Cost and relationship disclosure made to IPA.
16. Other relevant documents, if any.
Declaration
I, [Name of IRP] having IP registration number [Registration no.], was appointed as an Interim
Resolution Professional vide NCLT order dated [ Insert date] in application number [ Insert application
number] dated [ Date of appointment of IRP], under section 16 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:
Annexure-4
FORM – CIRP 3
(To be submitted to the Board by the RP online within 7 days of issue of IM to the members of CoC)
Date of submission of
IM to members of
CoC
Due date of Form
Delay in submission
of Form (Number of
days)
Reasons for delay
A. Corporate Debtor
1. Name of the Corporate Debtor:
2. CIN/LLPIN of Corporate Debtor:
B. Appointment of Resolution Professional
1. Date of passing resolution by CoC:
2. Number of days taken to pass the resolution:
3. Delay in number of days vis a vis timelines, if any:
4. Reasons for delay, if any:
5. Date of order of AA appointing RP:
6. Whether IRP is appointed as RP (Yes/ No):
If no, please furnish details of RP
a. I.P. Registration No.:
b. Name:
c. Address:
d. Email Id:
e. Phone Number
7. Alternative Contact details of the RP: Yes/ No
If yes, please furnish details:
a. Address (for correspondence):
b. Email Id (for correspondence):
8. Whether RP is independent of CD, as per regulation 3(1) (Yes/No)
9. Whether disclosure of relationship has been made to IPA as per disclosure circular?
(Yes/No)
If yes, date of submission of disclosure:
If No, reasons for non-submission
10. Whether RP is a partner or a director of an IPE (Yes/ No)
If Yes, provide the details below:
a. Name of the IPE:
b. Whether all directors and partners of the IPE are independent of CD, as per regulation
3(1)(Yes/ No)
c. Whether disclosure of relationship of IPE is made to IPA as per disclosure circular
(Yes/No)
If yes, date of submission of disclosure:
If No, reasons for non-submission
C. Appointment of registered valuers
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)
Estimates
(Rupees)
Fair
Value
Liquidation
Value
Average Values
1. Number of days taken for appointment of valuer:
2. Delay in number of days for appointment vis a vis timelines, if any:
3. Reasons for delay, if any:
4. Whether Registered Valuer(s) is disqualified to be appointed as per Regulation 27
(Yes/ No)
If yes, under which sub regulation (choose one or more from options below):
(a) a relative of the resolution professional
(b) a related party of the CD
(c) an auditor of the CD at any time during the five years preceding the insolvency
commencement date
(d) a partner or director of the IPE of which the resolution professional is a partner or
director
D. Details of handover of records of Corporate Debtor by IRP to RP
S. No
Description of records
Remarks, if any
E. Custody of assets of Corporate Debtor
1. Whether RP has taken over the custody of assets of CD (Yes/ No)
If no, whether application made u/s 19(2) of the Code, to the AA (Yes/ No)
If no, specify the reasons
F. Application Filed with AA seeking Cooperation of Management (Yes/ No)
1. If yes, furnish the details below:
d. Application Number:
e. Date of filing :
f. Date of Order:
2. Whether appeal, if any filed against the order (Yes/ No)
If yes, furnish the details below:
e. Name of Appellate Authority:
f. Appeal No.:
g. Date of filing of appeal:
h. Date of order:
3. Whether appeal, if any filed against order of Appellate Authority (Yes/ No)
If yes, furnish the details below:
e. Name of Appellate Authority:
f. Appeal No.:
g. Date of filing of appeal:
h. Date of order:
G. Details of application filed with the AA for Assistance of local district administration
1. If yes, furnish the details below:
a. Application Number:
b. Date of filing:
c. Date of Order:
2. Whether appeal, if any filed against the order (Yes/ No)
If yes, furnish the details below:
a. Name of Appellate Authority:
b. Appeal No.:
c. Date of filing of appeal:
d. Date of order:
3. Whether appeal, if any filed against order of Appellate Authority (Yes/ No)
If yes, furnish the details below:
a. Name of Appellate Authority:
b. Appeal No.:
c. Date of filing of appeal:
d. Date of order:
H. Information memorandum (IM)
1. Date of submission of IM to CoC:
2. Number of days taken for submission of IM:
3. Delay in number of days for submission vis a vis timeline, if any:
4. Reasons for delay, if any:
5. Details of assets and liabilities as per latest audited balance sheet and latest provisional
balance sheet:
a. Date of the latest audited balance sheet:
b. Date of the provisional balance sheet:
6. Whether IM contains the details as per requirements of Regulation 36(2) (Yes/ No)
If no, list the details not captured in the IM
S. No
Details not provided in IM
Reasons for not including the specified details:
7. Whether undertaking of confidentiality is obtained from Members of CoC and resolution
applicants:
If no, furnish the details of persons who did not give undertaking
S. No.
Category
(Member of CoC/
Resolution
applicant)
Name
Reasons
I. Details of Deviations/Non-Compliances of the provisions of Code, regulations,
circulars or other laws applicable to the CD:
Legal
Provisions
Deviation/Non-
compliance
Section/Regulat
ion/Circular
Reasons Period of
non-
compliance
Whether
rectified
or not
IBC
CIRP
Regulations
IP Regulations
Circulars
Other laws
applicable to
the CD
[For example-
Companies
Act, SEBI Act,
SCRA, Others
(pls. specify)
J. Details of orders passed by Courts/ Tribunals:
Order
(Interim/Final)
Date of
order
Authority
passing the
order
Abstract of order
K. Whether resolution under Section (12A/ 33(2)/others) was passed by CoC (Yes/ No):
Attachments [to be uploaded in pdf]
1. AA order for appointment of RP
2. Latest Audited Financial Statements
3. Provisional Financial Statements for the current year
4. Information Memorandum
5. Valuation reports
6. Appeal/application filed before AA/NCLAT/High court/Supreme court/ Others.
7. Orders of AA/NCLAT/High court/Supreme court /Others.
8. Progress Reports filed to AA by the RP
9. Cost and relationship disclosure made to IPA
10. Any other attachment
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.
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:
Annexure-5
FORM – CIRP 4
(to be submitted to the Board by RP online within 7 days of the issue of Request for Resolution Plans)
Date of issue of
RFRP
Due date of Form
Delay in submission
of Form (Number of
days)
Reasons for delay
A. Details of Corporate Debtor
1. Name of the Corporate Debtor:
2. CIN/LLPIN of Corporate Debtor:
B. Expression of interest (EOI) to invite Prospective Resolution Applicants (PRA)
1. Whether EOI issued (Yes/No)
If no, state the reasons:
2. Date of issue of EOI:
3. Number of days taken for issue of EOI:
4. Delay in number of days taken for issuance of EOI vis a vis timeline, if any:
5. Reasons for delay, if any:
6. Details of publishing EOI:
Location
Language
Name of
newspaper
Edition, if
applicable
Date of
issue
Registered
Office
English
Regional Specify
language
Principal
Office, if any
English
Regional Specify
language
Any other
place
Specify:____
English
Regional
Specify
language
Website of
the Corporate
Debtor
Website of
the Board
7. Date, when it was sent to the Board:
8. Mode of sending it to the Board (i.e. by Speed Post/ Regd. Post/ E-mail/By Hand/others):
9. Whether EOI re-issued (Yes/No)
If yes, number of times EOI re-issued:
10. Details of publication of latest EOI
Location
Language
Name of
newspaper/website
Edition, if
applicable
Date
of
issue
Registered
Office
English
Regional Specify
language
Principal
Office, if any
English
Regional Specify
language
Any other
place
Specify:_____
English
Regional Specify
language
Website of the
Corporate
Debtor
Website of the
Board
11. Last date to submit EOI:
12. Number of days given for submission of EOI:
13. If minimum days for submission of EOI vis a vis timeline is not given, deficit number of
days, if any:
14. Reasons for not giving minimum number of days, if any:
15. Number of persons who expressed their interest:
16. Number of persons who were ineligible as per:
a. Section 29 (A):
b. Section 25(2)(h):
c. Other:
17. Whether due diligence on PRAs conducted by RP as per Regulation 36A (Yes/No)
If no, reasons:
18. Date of issue of provisional list of eligible PRAs:
19. Number of days taken to issue provisional list of eligible PRAs:
20. Delay in number of days taken to issue provisional list of eligible PRAs, if any:
21. Reasons for delay, if any:
22. Date of Issue of final list of PRAs:
23. Delay in number of days taken to issue final list of PRAs, if any:
24. Reasons for delay, if any:
25. Final list of PRAs (including joint applicants, if any)
S.
No.
Name of PRAs
C. Request for Resolution Plans (RFRP)
1. Whether the following was approved by the committee of creditors):
a. RFRP (Yes/ No)
If no, state the reasons
b. Evaluation Matrix (Yes/ No)
If no, state the reasons
2. Date of issue of evaluation matrix:
3. Date of issue of RFRP:
4. Last date for submission of resolution plans:
5. Whether RFRP was issued atleast 30 days before the last date of the submission of the
resolution plans? (Yes/No)
If no, provide the reason for the same.
6. Details of Evaluation Matrix :
7. Whether RFRP requires any non-refundable deposit for submission of or along with
resolution plan (Yes/No)
If yes, please specify.
D. Modification of RFRP and Evaluation Matrix
1. Whether details with respect to RFRP modified (Yes/ No)
If yes, Number of times RFRP modified:
2. Whether details with respect to Evaluation matrix modified (Yes/ No)
If Yes, Number of times Evaluation matrix modified:
S.
no.
Modification done
in respect of
(RFRP/Evaluation
Matrix)
Date of
issue of
modified
request
Whether
atleast 30
days given for
submission of
resolution
plan from
date of
modification
(Yes/No)
If no,
reasons
Revised
Last date
for
submission
of
resolution
plan
3. Whether the RFRP was re-issued ( Yes/No)
If yes, (i) Date of re-issue of RFRP :
(ii) Last Date for submission of Resolution Plan:
E. Details of Deviations/Non-Compliances of the provisions of Code, regulations, circulars
or other laws applicable to the CD:
Legal
Provisions
Deviation/
Non-
complianc
e
Section/Regulat
ion/Circular
Reasons
Period of
non-
compliance
Whether
rectified
or not
IBC
CIRP
Regulations
IP Regulations
Circulars
Other laws
applicable to
the CD
[ For example-
Companies
Act, SEBI Act,
SCRA, Others
( pls. specify)
F. Details of orders passed by Courts/ Tribunals:
Order
(Interim/Final)
Date of
order
Authority
passing the
order
Abstract of order
G. Whether resolution under Section (12A/ 33(2)/others) was passed by CoC ( Yes/No)
Attachments
1. Expression of interest (first issue and latest issue).
2. Evaluation Matrix including modified, if any.
3. Request for resolution plan including modified, re-issued, if any.
4. Minutes of the Meetings of COC approving the RFRP .
5. All applications filed before courts, if any.
6. All orders passed by courts, if any.
7. Progress reports filed to AA by the RP.
8. Other documents, 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.
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:
Annexure-6
FORM- CIRP 5
(To be submitted to the Board online within 7 days of the approval or rejection of resolution plan by
the Adjudicating Authority)
Date of the approval
or rejection of
resolution plan by the
AA
Due date of Form
Delay in submission
of Form (Number of
days)
Reasons for delay
A. Corporate Debtor
1. Name of the Corporate Debtor:
2. CIN/LLPIN of Corporate Debtor:
B. Claims of creditors
Whether any change in list of claimants as uploaded by IRP in Form CIRP-2 (Yes/ No)
If yes, please furnish the revised list of claimants below:
Credit
or
Clai
mant
(Secu
red/
Unsec
ured/
Conti
ngent
)
Rel
ate
d
par
ty
of
the
CD
(Ye
s/N
o)
Identifi
cation
Numbe
r, if any
Date
of
crea
tion
of
secu
rity
inter
est
Natur
e
of
asset
on
which
securi
ty
intere
st
create
d,
if
any
Value
of
securi
ty at
the
time
of
agree
ment
Liabi
lity
as
per
book
s
of
acco
unts
Total Claims made
by the creditors
Total Claims
admitted by the
RP
Prin
cipal
Intere
st
Tot
al
Prin
cipa
l
Inte
rest
Tot
al
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(11)
(12)
(13)
(14)
(15)
(16
)
Financ
ial
Credit
ors
F1
F2
..
Total
FCs
Class
of
Credit
ors
Class 1
Class 2
(deben
ture/bo
nd
holders
)
……
Total
Class
of FCs
Operat
ional
Credit
ors for
Goods/
Service
s/
Statuto
ry
dues/
workm
en &
employ
ees
dues)
O1
O2
..
Total
OCs
Any
other
credito
r
C1
C2..
Total
Credit
ors
Grand
Total
1. Total claims as on date of meeting of CoC where resolution plan was approved (Rupees):
2. Date of filing of list of creditors with the AA:
3. Is list of creditors prepared and uploaded by RP on the website of the Corporate Debtor.
(Yes/ No)
If no, state the reasons:
C. Re-constitution of CoC, if any:
Date of constitution:
Total members ……..
Financial Creditors
Operational Creditors (if all FCs are related parties
of CD or there is no FC)
Status
Name of FC
Number
of FCs in
class
of
creditor
Voting
Share
(%)
Status
Name
of OC
Number of OCs
in
class
of
creditor
Voting
Share
(%)
FC1
OC1
FC2….
OC2…..
Class 1
Workmen
Class 2
Employees
Class 3…
Others
Total
Total
Remarks, if any
D. Whether any resolution plan received? (Yes/ No)
E. Final Resolution Applicant(s)
S.
N
o.
Resolution
plan
submitted
(Individua
lly/
Jointly)
Name
of
Resolution
Applicants
Whether
Resoluti
on
Applica
nt is an
FC
Nature of
resolution
(Merger/ac
quisition/a
malgamatio
n/Take
over/others)
Number
of plans
submitte
d
Grou
p to
which
it
belon
gs
Industry Details of
performance
security
provided
(Please
specify the
nature, value,
duration and
source, as
specified in
request for
resolution
plan)
Resolution
plans
compliant
with
section
30(2).
(Yes/
No)
Reason for
non-
compliance
of
plan
with
Section
30(2)
1. Whether the resolution plan rejected by CoC? (Yes/ No)
If yes,
a. Date of CoC meeting wherein the plan was rejected:
b. Reasons for rejection:
2. Whether resolution for liquidation u/s 33(2) passed by CoC (Yes/ No)
If no, way forward in CIRP process as decided by CoC:
3. Date of the meeting of CoC approving the resolution plan:
4. Whether resolution plan was approved by the CoC within 180 days from ICD (Yes/No)
If no, whether extension of CIRP time granted (Yes/ No)
If yes, number of days granted:
F. Meeting of the Committee of Creditors where resolution plan was approved:
Date
of
servic
e of
notice
of the
meeti
ng
Wheth
er the
notice
of the
meetin
g was
served
by
giving
not
less
than 5
days’
notice?
(Yes/N
o)
If no,
whether the
approval of
CoC sought
(Yes/ No)
Date of
the
meeting
of the
Committ
ee of
Creditor
s
Numb
er of
days
from
ICD,
meetin
g of
the
CoC
was
held
Matters put forth
for voting at the
meeting
(Approval for
resolution
plan/liquidation/o
ther matters)
Voting
Percenta
ge
Remar
ks, if
any
(Ye
s/
No)
If yes,
timeli
ne for
servic
e
of
notice.
If no,
reason
s.
G. Application filed with AA for approval of resolution plan
H. Members of CoC and distribution of voting share
S. No
Name of Creditor
Voting Share (%)
Voting for
Resolution
Plan (Voted
for /
Dissented /
Abstained)
I. Resolution plan
1. Details of stakeholders, claims and realisation under resolution plan.
(Amount in Rupees)
Date of the
application
Whether
application
for
approval
of
resolution
plan filed
as
per
model
timelines
(Yes/ No)
If No,
state
reasons
for
delay.
Whether
the
resolution
plan
accepted/rejected
by AA
(accepted/rejected)
Date of order of
acceptance/rejection
by AA
S.
No.
Category of
stakeholder*
Amount
claimed
Amount
admitted
Realisable by
Stakeholders
Amount#
Percent
age
1.
Secured
Financial
Creditors
2.
Unsecured
Financial
Creditors
*If
there
are sub-categories in a category (like real estate allottees, debenture holders etc.), 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 NPV.]
2. Interests of existing shareholders under resolution plan:
Sl. No
Category of
Share Holder
No. of Shares
held before
CIRP
No. of Shares
held after
the CIRP
Voting Share
(%) held
before CIRP
Voting Share
(%) held
after CIRP
3. Settlement Amounts
Stakeholder
category
Mode of Settlement
Amount
(Rupees)
Time of
Payment/
Issue/
Conversion
Remarks, if
any
4. The compliance of the Resolution Plan is as under:
Section of the Code /
Regulation No.
Requirement with
respect to
Resolution Plan
Clause of
Resolution Plan
Compliance (Yes /
No)
Section 25(2)(h)
Whether the
Resolution Applicant
meets the criteria
approved by the CoC
having regard to the
3.
Operational
Creditors
Government
Workmen
Employees
…..
4.
Other Debts
and Dues
Total
complexity and scale
of operations of
business of the CD
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
Section 30(1)
Whether the
Resolution Applicant
has submitted an
affidavit stating that it
is eligible
Section 30(2)
Whether the
Resolution Plan:
(a) provides for the
payment of
insolvency resolution
process costs? (b)
provides for the
payment of the debts
of operational
creditors?
(c) provides for the
management of the
affairs of the
Corporate debtor?
(d) provides for the
implementation and
supervision of the
resolution plan?
(e) contravenes any
of the provisions of
the law for the time
being in force?
Section 30(4)
Whether the
Resolution Plan:
(a) is feasible and
viable, according to
the CoC?
(b) has been approved
by the CoC with 66%
voting share?
Section 31(1)
Whether the
Resolution Plan has
provisions for its
effective
implementation plan,
according to the CoC
Regulation 35A
Where the resolution
professional made a
determination if the
corporate debtor has
been subjected to any
transaction of the
nature covered under
sections 43, 45, 50 or
66, before the one
hundred and fifteenth
day of the insolvency
commencement date,
under intimation to
the Board
Regulation 38 (1)
Whether the amount
due to the operational
creditors under the
resolution plan has
been given priority in
payment over
financial creditors
Regulation 38(1A)
Whether the
resolution plan
includes a statement
as to how it has dealt
with the interests of
all stakeholders
[Regulation 38(1B)
(a) 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.
(b)If so, whether the
Resolution Applicant
has submitted the
statement giving
details of such non-
implementation?
Regulation 38(2)
Whether the
Resolution Plan
provides:
(a) the term of the
plan and its
implementation
schedule?
(b) for the
management and
control of the
business of the
corporate debtor
during its term?
(c) adequate means
for supervising its
implementation?
38(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?
39(2)
Whether the RP has
filed applications in
respect of
transactions observed,
found or determined
by him
Regulation 39(4)
Provide details of
performance security
received, as referred
to in sub-regulation
(4A) of regulation
36B
5. Terms and conditions of Resolution Plan, if any (Such as escrow, Performance Bank
guarantee, infusion of equity, capital commitments etc, sources of funds along with
timelines)
6. Approvals required from other regulators/ authorities, if any:
S.
No.
Nature of
Approval
Name of applicable
law
Approving
authority
When to be
obtained
7. The Resolution Plan is subject to any contingency (Yes/ No)
If yes, please furnish details of contingencies:
8. Deviations/ non-compliances of the provisions of the Code, regulations made or circulars
issued or other laws applicable to the CD:
Sl. No.
Deviation/Non-
compliance
observed
Section of the
Code /
Regulation No. /
Circular
No./other laws
applicable to the
CD
Reasons
Whether
rectified or not
9. Whether the CoC has approved a plan providing for contribution under regulation 39B:
(Yes/No)
If yes, furnish the details below
a. Estimated liquidation cost: (Rupees)…………..
b. Estimated liquid assets available: (Rupees)…………..
c. Contributions required to be made: (Rupees)………….
d. Financial creditor wise contribution as under:
Sl. No.
Name of financial creditor
Amount to be contributed
(Rupees)
10. Whether the CoC has recommended sale as a going concern under regulation 39C -
(Yes/No)
If yes, furnish the details below:
a. Whether sale of corporate debtor as a going concern: (Yes / No)
b. Whether sale of business of corporate debtor as a going concern: (Yes / No)
c. Whether the details of recommendation are available with the resolution professional:
(Yes/No)
11. Whether the CoC has fixed, in consultation with the resolution professional, the fee
payable to the liquidator during the liquidation period under regulation 39D: (Yes/No)
If yes, furnish the details of fee payable to liquidator:
12. Implementing Agency/ Monitoring Committee, if any:
i.
Number of persons responsible for implementation of resolution plan:
ii.
Name:
iii.
Address:
iv.
Designation:
v.
Email ID:
vi.
Mobile No:
13. Whether RP is part of Implementing Agency/ Monitoring Committee? (Yes/ No)
If Yes, give details about the period and fee fixed by CoC/AA
J. Liquidation
1. Reason for liquidation of the CD (No value in the assets/ company was a shell company/Non-
receipt of resolution plan/Rejection of resolution plan by CoC/ Rejection of resolution plan by
AA/others)
2. Meeting of CoC passing resolution for liquidation
Date of
service
of
notice
of the
meeting
Whether
the
notice of
the
meeting
was
served
by
giving
not less
than 5
days’
notice?
(Yes/No)
If no, whether
the approval of
CoC sought
(Yes/ No)
Date of the
meeting of
the
Committee
of
Creditors
Number
of days
from
ICD,
meeting
of the
CoC
held
Matters
putforth
for
voting
at the
meeting
Voting
Percentage
Remarks,
if any
(Yes/
No)
If
yes,
timeline
for
service
of
notice.
If
no,
reasons.
3. Date of filing application before AA
4. Date of AA approving liquidation
K. Expenses incurred by or on Resolution Professional:
Expense Head
Expenses – Sub
Head
Expenses paid or
agreed to be paid
Approved by COC
(Yes/ No)
Amount
incurred
Amount
paid
RP
Fee payable to RP
Cost of insurance for
RP
Other Expenses on/
for RP (travel, stay,
security etc. related
expenses)
IPE
Fee, if any, payable to
an IPE for support
services
Registered Valuer
Fee payable to Valuer
1
Fee payable to Valuer
2
Fee payable to Valuer
3, if any
Other Expenses on/
for IRP (travel, stay,
out of pocket
expenses etc.)
Other Professional
Fee Payable to
accounting and
finance professional
Fee Payable to audit
professional
Fee payable to legal
professional/ attorney
Fee payable to any
other professional
Fee
payable
to
authorised
representative
Other expenses on /
for professionals
COC
Expense for meeting
venue
Expense for electronic
voting
Expense for video
conferencing
Any other expense
related to CoC
Other Expenses
Expenses on Public
Announcement
Expenses for filings
before
Adjudicating
Authority
including
Court fee
Expenses
for
verification of claims
CIRP related litigation
Other expenses, if any
Essential Services
Electricity
Water
Telecommunication
services
Information
Technology services
Other
essential
services, if any
Other Services
Other supplies
Employees
and
workmen
Security
Personnel
Services
Other expenses, if nay
Interim Finance
Amount of interim
finance
Expenses for raising
interim finance
Interest payable on
interim finance
Other expenses
Other matters
Penalties,
if
any,
payable
for
non-
compliance
L. Disclosure of relationship of the interim resolution professional, if any
Relationship of
the Interim
Resolution
Professional
with
Name
Nature
of
relationship
Description of relationship
Corporate Debtor
Financial
Creditor
FC1
FC2..
Authorised
Representative(s)
AR1
AR 2
Corporate
Guarantor, if any
Operational
Creditor, if any
OC1
OC2
….
M. Services sought from IPE, if any. (Yes/No)
If yes, Provide details of IPE
a. Name of IPE
b. Relationship with IPE, if any:
c. Nature of relationship:
d. Whether appointed at arms’ length relationship?
N. Are you a partner or a director of an IPE? (Yes/No)
If yes, furnish the details:
a. Name of the IPE:
b. Whether all directors and partners of the IPE are independent of CD, as per regulation
3(1)? Yes/No
c. Whether disclosure of relationship of IPE has been made to IPA as per disclosure
circular? Yes/No
5 Legal firm that has any or had any transaction with the Corporate Debtor amounting to five percent or more of
the gross turnover of such firm in the last three financial years.
6 Consulting firm that has any or had any transaction with the Corporate Debtor amounting to five percent or
more of the gross turnover of such firm in the last three financial years.
Interim Finance
Provider, if any
Prospective
Resolution
Applicant
Accountant(s)
Legal
Professional(s)
Other
Professional(s)
Firm of auditors
of
Corporate
Debtor (in the
last 3 financial
years)
Secretarial
auditors
in
practice of the
Corporate Debtor
(in the last three
financial years)
Cost Auditors of
Corporate Debtor
(in the last three
financial years)
Legal Firm5 (in
the
last
three
financial years)
Consulting Firm6
(in the last three
financial years)
If yes, date of submission of disclosure:
If no, reasons (specify)
d. Disclosure of relationship of IPE
O. Support sought from any professional(s)? (Yes/ No)
S. No.
Name of
Professional
Nature of
profession
Date of
appointment
Term of
appointment
From ___ to
___
Scope of
engagement
Professional fees
paid/agreed to be paid
(Rupees)
Other
expenses,
if
any,
paid/
agreed to
be
paid
(Rupees)
Whether
appointed at
arms’ length
relationship?
(Yes/ No)
Quantum
Basis
(hourly/daily
etc.)
7 Legal firm that has any or had any transaction with the Corporate Debtor amounting to ten percent or more of
the gross turnover of such firm in the last three financial years.
8 Consulting firm that has any or had any transaction with the Corporate Debtor amounting to ten percent or
more of the gross turnover of such firm in the last three financial years.
Relationship of all the
Partners and Directors of
IPE with
Name
Nature of relationship
Description
of
Relationship
Corporate Debtor
Firm
of
auditors
of
Corporate Debtor (in the
last 3 financial years)
Secretarial
auditors
in
practice of the Corporate
Debtor (in the last three
financial years)
Cost Auditors of Corporate
Debtor (in the last three
financial years)
Legal Firm7 (in the last
three financial years)
Consulting Firm8 (in the
last three financial years)
Prospective
Resolution
Applicant
P. Disclosure of relationship of the professional
Disclosure of relationship of Mr./ Ms/Mrs. _____________, with:
Q. Details of Deviations/Non-Compliances of the provisions of Code, regulations, circulars
or other laws applicable to the CD:
Legal Provisions
Deviation/
Non-
complianc
e
Section/Regulat
ion/Circular
Reasons
Period of
non-
compliance
Whethe
r
rectifie
d or not
IBC
CIRP Regulations
IP Regulations
Circulars
Other laws applicable to
the CD
[ For example-
Companies Act, SEBI
Act, SCRA, Others (pls.
specify)
Relationship of the Professional
with
Name
Nature
of
Relationship
Description
of
relationship
7.
Corporate Debtor
8.
Corporate Guarantor, if any
9.
Insolvency Professional
10. Insolvency Professional Entity
(If associated with, any)
11. Financial Creditor(s)
12. Interim Finance Provider(s)
13. Prospective
Resolution
Applicant
R. Details of orders passed by Courts/ Tribunals:
Order
(Interim/Final)
Date of
order
Authority
passing the
order
Abstract of order
Attachments
1. Minutes of all CoC meetings.
2. Copy of Resolution Plan.
3. Disclosure of cost and relationship made to IPA.
4. All the applications filed before AA, if any.
5. All the orders passed by AA, if any.
6. All the applications filed before courts, if any.
7. All the orders passed by courts, if any.
8. Compliance Certificate – Form H.
9. Progress Reports filed to Adjudicating Authority by the RP.
10. Any other attachment related to resolution process (say Process document, Bid documents etc.).
11. Cost Sheets prepared by RP.
12. Other documents, if any.
Declaration
I, [Name of RP] having IP registration number [Registration no.], was appointed as an 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.
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:
Annexure-7
FORM – CIRP 6
(to be filed with the Board within 7 days of the occurrence of event)
This Form is filed for intimation of
A. Corporate Debtor
a. Name of the Corporate Debtor:
b. CIN/LLPIN of Corporate Debtor:
I.
Filing of application in respect of
(a) Preferential transaction
Date of filing
application of
preferential
transactions
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Whether the RP formed an opinion on preferential transaction (Yes/ no)
2. Date of forming opinion:
3. Number of days taken for forming opinion:
4. Delay in number of days for forming opinion vis a vis timelines, if any:
5. Reasons for delay, if any:
6. Whether RP has made a determination on preferential transaction (Yes/ No):
7. Date of determination:
8. Number of days taken for determination of transactions:
9. Delay in number of days for determination of transactions vis a vis timelines, if any:
10. Reasons for delay vis a vis timelines, if any
11. Date of intimation to the Board:
12. Date of filing of application with Adjudicating Authority:
I. Filing of application in respect of:
a.
Preferential transaction
b. Undervalued transaction
c.
Extortionate transaction
d. Fraudulent Transaction
II. Raising of Interim Finance
III. Insolvency resolution process for guarantors
IV. Extension of period of CIRP
V. Exclusion of period of CIRP
VI. Premature closure of CIRP (appeal, settlement,
withdrawal etc.)
VII. Request for liquidation before completion of CIRP
VIII. Non implementation of resolution plan as
approved by AA
13. Number of days taken for filing application:
14. Delay in number of days for filing the application vis a vis timelines, if any:
15. Total transaction value reported (Rupees):
(Amount in Rupees)
Parties
to the
transact
ion
Relations
hip with
the CD
(Related
Party/Ot
her than
Related
party)
Nature
of
Preferen
tial
transacti
on
Date of
such
transact
ion
Underly
ing
Amount
Status
of
applicat
ion at
the time
of
approva
l of
resoluti
on by
AA
Any
Amou
nt
clawe
d
back
Authori
ty to
whom
the
applicat
ion has
been
handed
over to
for
further
follow
up
Remar
ks
16. Date when order was passed by the Adjudicating Authority, if any
17. Whether the AA order is challenged (Yes/No)
18. If Yes, Authority Name and outcome/order in brief
Attachments
1. Determination of preferential transaction intimated to the Board.
2. Copy of forensic audit report, if any
3. Copy of transaction audit report, if any
4. Application filed with the Adjudicating Authority.
5. Order passed by the Adjudicating Authority.
6. Order passed by other courts.
7. Other document, 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.
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:
(b) Undervalued transaction
Date of filing of
undervalued
transactions
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Whether the RP formed an opinion on undervalued transaction (Yes/ no)
2. Date of forming opinion:
3. Number of days taken for forming opinion:
4. Delay in number of days for forming opinion vis a vis timelines, if any:
5. Reasons for delay, if any:
6. Whether RP has made a determination on undervalued transaction (Yes/ No):
7. Date of determination:
8. Number of days taken for determination of transactions:
9. Delay in number of days for determination of transactions vis a vis timelines, if any:
10. Reasons for delay vis a vis timelines, if any
11. Date of intimation to the Board:
12. Date of filing of application with Adjudicating Authority:
13. Number of days taken for filing application:
14. Delay in number of days for filing the application vis a vis timelines, if any:
15. Total transaction value reported (Rupees)
(Amount in Rupees)
Parties
to the
transac
tion
Relation
ship
with the
CD
(Related
Party/
Other
than
Related
party)
Nature
of
Underva
lued
transacti
on
Date of
such
transac
tion
Underl
ying
Amoun
t
Status
of
applica
tion at
the
time of
approv
al of
resoluti
on by
AA
Any
Amo
unt
clawe
d
back
Author
ity to
whom
the
applica
tion
has
been
handed
over to
for
further
follow
up
Rema
rks
16. Date when order was passed by the Adjudicating Authority, if any:
17. Whether the AA order is challenged (Yes/No):
18. If Yes -Authority Name and outcome/order in brief:
Attachments:
a. Copy of the determination of the undervalued transaction sent to the Board
b. Copy of forensic audit report, if any
c. Copy of transaction audit report, if any
d. Application filed with the Adjudicating Authority
e. Order passed by the Adjudicating Authority
f. Order passed by other courts
g. Any other attachment
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.
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:
(c) Extortionate credit transaction
Date of filing of
extortionate
transactions
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Whether the RP formed an opinion on extortionate transaction (Yes/ no)
2. Date of forming opinion:
3. Number of days taken for forming opinion:
4. Delay in number of days for forming opinion vis a vis timelines, if any:
5. Reasons for delay, if any:
6. Whether RP has made a determination on extortionate transaction (Yes/ No):
7. Date of determination:
8. Number of days taken for determination of transactions:
9. Delay in number of days for determination of transactions vis a vis timelines, if any:
10. Reasons for delay vis a vis timelines, if any
11. Date of intimation to the Board:
12. Date of filing of application with Adjudicating Authority:
13. Number of days taken for filing application:
14. Delay in number of days for filing the application vis a vis timelines, if any:
15. Total transaction value reported (Rupees)
(Amount in Rupees)
Parties
to the
transac
tion
Relation
ship
with the
CD
(Related
Party
Other
than
Related
party
)
Nature
of
Extortio
nate
transact
ion
Date of
such
transac
tion
Underl
ying
Amoun
t
(Rupee
s)
Status
of
applica
tion at
the
time of
approv
al of
resolut
ion by
AA
Any
Amo
unt
clawe
d
back
(Rup
ees)
Author
ity to
whom
the
applica
tion
has
been
handed
over to
for
further
follow
up
Rema
rks
16. Date when order was passed by the Adjudicating Authority, if any:
17. Whether the AA order is challenged (Yes/No):
18. If Yes -Authority Name and outcome/order in brief:
Attachments
1. Copy of the determination of the extortionate transaction sent to the Board
2. Copy of forensic audit report, if any
3. Copy of transaction audit report, if any
4. Application filed with the Adjudicating Authority
5. Order passed by the Adjudicating Authority
6. Order passed by other courts
7. Other document, 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.
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:
(d) Fraudulent transaction
Date of filing of
fraudulent
transactions
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Whether the RP formed an opinion on fraudulent transaction (Yes/ no)
2. Date of forming opinion
3. Number of days taken for forming opinion:
4. Delay in number of days for forming opinion vis a vis timelines, if any
5. Reasons for delay, if any:
6. Whether RP has made a determination on fraudulent transaction (Yes/ No)
7. Date of determination:
8. Number of days taken for determination of transactions:
9. Delay in number of days vis a vis timelines:
10. Reasons for delay vis a vis timelines, if any
11. Date of intimation to the Board:
12. Date of filing of application with Adjudicating Authority:
13. Number of days taken for filing application
14. Delay in number of days vis a vis timelines, if any
15. Total transaction value reported (Rupees):
(Amount in Rupees)
Parties
to the
transac
tion
Relation
ship
with the
CD
(Related
Party/
Other
than
Related
party)
Nature
of
Fraudu
lent
transac
tion
Date of
such
transac
tion
Underl
ying
Amoun
t
Status
of
applica
tion at
the
time of
approv
al of
resoluti
on by
AA
Any
Amo
unt
clawe
d
back
Author
ity to
whom
the
applica
tion
has
been
handed
over to
for
further
follow
up
Rema
rks
16. Date when order was passed by the Adjudicating Authority, if any :
17. Whether the AA order is challenged (Yes/No):
18. If Yes -Authority Name and outcome/order in brief:
Attachments
1. Copy of determination of fraudulent transaction sent to the Board
2. Copy of forensic audit report, if any
3. Copy of transaction audit report, if any
4. Application filed with the Adjudicating Authority
5. Order passed by the Adjudicating Authority
6. Order passed by other courts
7. Any other attachment
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.
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:
II.
Interim finance
Date of raising
interim finance
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
(Amount in Rupees)
Declaration
I, [Name of IRP/RP] having IP registration number [Registration no.], was appointed as an Insolvency
Resolution Professional/ Resolution Professional vide NCLT order, dated [ mention date] in application
number [ mention application number] dated [mention date of appointment of RP], under section 16/22
of the Insolvency and Bankruptcy Code, 2016.
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:
Name of
Interim
financier
Address of
Interim
Financier
Date of
raising
interim
finance
Amount of
interim
finance
taken
Whether
security
interest
created
(Yes/ No)
If yes,
provide
details of
asset on
which
security
interest is
created
III.
Insolvency resolution process for guarantors
S.
no
Name of
guaranto
r
Guarant
ee issued
in
favour
of
Amount
of
guarante
e
Date of
invocatio
n of
guarante
e
Date of
default
by
guaranto
r
Date of
initiation
of
process
against
guaranto
r under
the Code
Petitio
n No.
NCL
T
Bench
Declaration
I, [Name of IRP/RP] having IP registration number [Registration no.], was appointed as an Insolvency
Resolution Professional/ Resolution Professional vide NCLT order, dated [ mention date] in application
number [ mention application number] dated [mention date of appointment of RP], under section 16/22
of the Insolvency and Bankruptcy Code, 2016.
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:
IV.
(a) Extension of period of CIRP
Date of granting
extension by
Authority
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Number of times applied for extension of CIRP period:
S.
No.
Date of
meeting
of CoC
Date of
filing of
application
Application/
Petition No.
Extension
applied
(No. of
days)
Extension
granted
(No. of
days)
Date
of
order
passed
Abstract of
order
2. Number of days taken to pass the resolution by CoC, for seeking extension of CIRP:
3. Number of days taken to file the application with AA:
4. Number of days taken for the order of NCLT:
5. Whether any period excluded from CIRP period by any Authority? If yes – Authority and new
date of closure of CIRP:
Declaration
I, [Name of IRP/RP] having IP registration number [Registration no.], was appointed as an Insolvency
Resolution Professional/ Resolution Professional vide NCLT order, dated [ mention date] in application
number [mention application number] dated [mention date of appointment of RP], under section 16/22
of the Insolvency and Bankruptcy Code, 2016.
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:
IV. (b) Exclusion of Period of CIRP
Stage of CIRP (please
specify one or more
from below)
Number of
days excluded
Authority
Reason for exclusion
(Pre EOI/Post EOI
before issue of
RFRP/Post issue of
RFRP before
submission of
resolution plan to
AA/Post submission of
resolution plan to
AA/Others)
(Litigation period/Directions
of AA to reconsider the
plan/Delay in appointment
of RP by CoC/Delay in
receipt of order of
appointment/Time taken for
approving the Resolution
Plan by AA/Others)
Declaration
I, [Name of IRP/RP] having IP registration number [Registration no.], was appointed as an Insolvency
Resolution Professional/ Resolution Professional vide NCLT order, dated [ mention date] in application
number [ mention application number] dated [mention date of appointment of RP], under section 16/22
of the Insolvency and Bankruptcy Code, 2016.
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:
V.
Premature closure of CIRP (appeal, settlement, withdrawal etc.)
Date of application of
withdrawal to AA
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
A. Premature closure is by (appeal/settlement), specify details as below:
1. Application/Petition No.:
2. Bench:
3. Name of the Applicant/Petitioner:
4. Application filed under Section:
5. Date of admission:
6. In case of appeal,
a. Date of order appeal against:
b. Abstract of the order appealed against:
c. Date of order disposing the appeal:
d. Authority passing the order in appeal:
e. Abstract of the order disposing the appeal:
7. In case of settlement,
a. Date of making application for disposal of CIRP on the basis of settlement:
b. Details of settlement:
c. Amount involved in the settlement:
d. Date of order closing the CIRP based on settlement:
e. Abstract of the order:
B. Stage of 12A withdrawal
Description (please specify one from
below)
Specify
Resolution Plan / Liquidation filed by
RP with AA for approval, yet to be
approved
Resolution Plan / Liquidation Approved
by CoC, yet to be filed with AA for
approval
Resolution Plans / Liquidation under
Consideration of CoC
Resolution Plans, if any, under
Examination of RP but yet to be
submitted to CoC
Request for Resolution Plan (Re)issued
but Last Date for Receipt for Resolution
Plans is not yet over
Invitation for EoI (Re)Issued but
Request for Resolution Plan yet to be
Issued
Invitation for EoI yet to be Issued
Others
1. Date of CoC approval:
2. Number of days taken for approval of CoC:
3. Date of application to AA:
4. Number of days taken for submission of application:
5. Whether the application accompanies Bank Guarantee? Yes No
If yes, provide terms of Bank Guarantee
6. Grounds for withdrawal (please select one below)
Grounds of withdrawal
-
Full settlement with applicant
-
Full settlement with other creditors
-
Agreement to settle in future
-
Other settlements with creditors
-
CD not traceable
-
CD struck off the register
-
Applicant not pursuing due to high cost
-
Other
7. Whether withdrawal approved by the Adjudicating Authority? Yes/No
If yes, Date of the Order passed by the Adjudicating Authority:
If no, reasons for rejection:
8. Any Settlement amount agreed /received by Stakeholders (FC/OC/others) pursuant to 12A
withdrawal along with timelines:
Attachments
1. Copy of the minutes of the CoC where resolution for withdrawal of application was approved
by CoC
2. Form FA submitted to the resolution professional by the Applicant
3. Copy of the Application filed with the Adjudicating Authority
4. Order passed by AA/NCLAT/HC/Supreme Court
5. Any other attachment
Nature of
stakeholder
Name
Amount
(Rupees)
Timelines for
payments, if any
Declaration
Declaration
I, [Name of IRP/RP] having IP registration number [Registration no.], was appointed as an Insolvency
Resolution Professional/ Resolution Professional vide NCLT order, dated [ mention date] in application
number [ mention application number] dated [mention date of appointment of RP], under section 16/22
of the Insolvency and Bankruptcy Code, 2016.
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:
VI.
Request for liquidation before completion of CIRP
Date of filing
application for
liquidation before
CIRP completion
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Application/Petition No. initiating CIRP:
2. Bench:
3. Name of the Applicant/Petitioner:
4. Application filed under Section(7/9/10):
5. Date of admission:
6. Stage of CIRP (please specify one from below):
Resolution Plans, if any, under Examination of RP but yet to be submitted to CoC
Request for Resolution Plan (Re)issued but Last Date for Receipt for Resolution Plans is
not yet over
Invitation for EoI (Re)Issued but Request for Resolution Plan yet to be Issued
Invitation for EoI yet to be Issued
Others
7. Date of passing resolution by CoC to liquidate the CD:
8. Resolution passed by CoC in which meeting of CoC( Ist , 2nd…):
9. Reasons for request for liquidation before completion of CIRP:
10. Voting share of CoC approving liquidation:
S. No Voting share (%) – in favor
Voting share (%) -
against
Voting share (%) -
abstained
11. Date of filing application before AA for liquidation of CD:
12. Date of order of AA to liquidate CD:
13. Abstract of order:
14. Appeals, if any against order of liquidation
Attachments
1. Copy of the minutes of the CoC where liquidation was considered
2. Copy of the Application filed with the Adjudicating Authority
3. Order passed by AA/NCLAT/HC/Supreme Court
4. Any other attachment
Declaration
Declaration
I, [Name of IRP/RP] having IP registration number [Registration no.], was appointed as an Insolvency
Resolution Professional/ Resolution Professional vide NCLT order, dated [ mention date] in application
number [ mention application number] dated [mention date of appointment of RP], under section 16/22
of the Insolvency and Bankruptcy Code, 2016.
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:
VII.
Non implementation of resolution plan as approved by AA
Date of default of
implementation of
resolution plan
Due date of Form
Delay in submission
of Form (number of
days)
Reasons for delay
1. Duration of implementation of plan
2. Is there any contravention(s) of terms and conditions of implementation of resolution plan by RA/
CD? (Yes/ no)
If yes,
Grounds of Contravention(s) Specific clauses of the
resolution plan
period of delay in
implementation
3. Application filed with AA? (Yes/ No)
If yes, please furnish the details below:
a. Date of filing the application:
b. Date of order of AA:
Attachments
1.
Copy of the Application filed with the AA
2.
Order passed by AA
3.
Any other attachment
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.
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:
