IBBI circular IBBI/LIQ/79/2024 · 02 Dec 2024
Official title
Circular - Extension of time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder
Official record
Open source pageSummary
Check the official recordThe Insolvency and Bankruptcy Board of India has extended the deadline for submitting forms related to liquidation and voluntary liquidation processes to December 31, 2024. This extension addresses technical difficulties reported by liquidators and Insolvency Professional Agencies. For ongoing cases, the currently handling Insolvency Professional is responsible for filing. In instances where a closure or dissolution application has been filed or an order has been passed, the Insolvency Professional responsible during that specific tenure must complete the filing. This directive is issued under the authority granted by section 196(1) of the Insolvency and Bankruptcy Code, 2016.
What you must do
Key dates
Who is affected
Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001
CIRCULAR
No. IBBI/LIQ/79/2024
02nd December, 2024
To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities, and All Registered Insolvency Professional Agencies (By mail to registered email addresses and on the website of the IBBI)
Dear Madam / Sir,
Subject: Extension of time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder.
Vide Circulars No. IBBI/LIQ/73/2024 and No. IBBI/LIQ/74/2024 dated 28.06.2024, the liquidators were directed to file forms relating to the liquidation and voluntary liquidation process by 30.09.2024. The last date for submission of forms was extended till 30.11.2024 vide Circulars No. IBBI/LIQ/76/2024 and No. IBBI/LIQ/77/2024.
In this regard, representations have been received from the liquidators and Insolvency Professional Agencies for extending the date citing the technicalities and issues involved in the submission of the forms.
Considering the above-mentioned representations and difficulties faced by the liquidator, it has been decided to extend the last date of submission of the liquidation and voluntary liquidation forms till 31.12.2024.
It is further clarified that, for ongoing liquidation and voluntary liquidation cases, the responsibility for filing all forms shall lie with the Insolvency Professionals (IP) currently handling the process. Moreover, in cases where an application for closure or dissolution has been filed, or a dissolution or closure order has been passed, the IP under whose tenure the said application was filed or the order was passed shall be responsible for filing all forms related to the particular case.
This is issued in exercise of the powers under sub-section (1) of section 196 of the Insolvency and Bankruptcy Code, 2016.
Yours faithfully,
Sd/-
(Rajesh Tiwari) General Manager
