IBBI circular IBBI/BIRP/99/2026 · 02 Jun 2026
Official title
Circular - Formats under the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019
Official record
Open source pageSummary
The Insolvency and Bankruptcy Board of India has specified two new formats to be used under the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. These formats include Form A, for an insolvency professional to provide written consent to act as a bankruptcy trustee, and Form B, for a creditor to appoint a proxy for meetings of the committee of creditors. These requirements apply to all registered insolvency professionals, recognised insolvency professional entities, and registered insolvency professional agencies.
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/BIRP/99/2026
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 (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019
Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, as amended by the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2026 specify various forms relating to the process to be notified by Board through circular.
| Sl. No. | Regulation | Description | Form |
|---|---|---|---|
| 1 | Regulation 3(3) | Written Consent to Act as Bankruptcy Trustee | Form A |
| 2 | Regulation 26(2) | Form to Appoint Proxy for Meeting of Committee of Creditors | Form B |
The formats of the above Forms are enclosed at the Annexure to this Circular.
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
Annexure
FORM A Written Consent to Act as Bankruptcy Trustee (Under regulation 3(3) of the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019)
[Date]
To The Adjudicating Authority [Name of 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 to act as bankruptcy trustee.
I, [name], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board, note that I have been proposed to be appointed as bankruptcy trustee for the bankruptcy process of [name of the bankrupt].
In accordance with regulation 3(3) of the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, I hereby give consent to the proposed appointment.
I declare and affirm as under: - (a) I am registered with the Board as an insolvency professional. (b) I am not subject to any disciplinary proceedings initiated by the Board or the Insolvency Professional Agency. (c) I do not suffer from any disability to act as a bankruptcy trustee. (d) I am eligible to be appointed as bankruptcy trustee of the bankrupt under regulation 3 of the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 and other applicable provisions of the Code and regulations. (e) I shall make the disclosures in accordance with the code of conduct for insolvency professionals as set out in the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016; (f) I have the following processes in hand:
| Sl. No. | Role as | No. of processes on the date of consent |
|---|---|---|
| 1 | Interim Resolution Professional | |
| 2 | Resolution Professional of: a. Corporate debtors b. Personal guarantors or individuals or partnership firms | |
| 3 | Liquidator of: a. Liquidation Process b. Voluntary Liquidation Process | |
| 4 | Bankruptcy Trustee | |
| 5 | Authorised Representative | |
| 6 | Any other (please state) |
Date: Place:
(Signature of Insolvency Professional) Registration No.…..
FORM B Form to Appoint Proxy (Under regulation 26(2) of the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019)
Full name of the bankrupt: [Insert matter name / application number for the bankruptcy process]
Full Name of Creditor
| Address | Present | Permanent | Business |
|---|---|---|---|
| Identification number | Aadhaar Number | PAN | CIN |
I, being [insert name of creditor] holding [insert voting share] of the debt of the bankrupt, hereby appoint:
Full name | Address | Present | Permanent | Business | | :--- | :--- | :--- | :--- | | Identification Number | Aadhaar Number | PAN | CIN | GSTIN | | E-mail | | | | | | Signature | | | | | or failing him;
Full name | Address | Present | Permanent | Business | | :--- | :--- | :--- | :--- | | Identification Number | Aadhaar Number | PAN | CIN | GSTIN | | E-mail | | | | | | Signature | | | | |
as my proxy to attend and vote for me and on my behalf at the meeting of the committee to be held on [insert date and time of meeting] at [insert venue of the meeting], and at any adjournment thereof in respect of the matters indicated in the notice of the meeting [provide details of the notice], as listed below:
[insert matters as listed in the agenda]
Signed this [insert date] day of [insert month] [insert year] Signature of creditor: Signature of proxy:
