IBBI circular IBBI/LIQ/96/2026 · 02 Jun 2026
Official title
Circular - Formats under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
Official record
Open source pageSummary
Check the official recordThe Insolvency and Bankruptcy Board of India (IBBI) has specified various forms required under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, following the fourth amendment to these regulations. The circular mandates the use of specific formats for key liquidation processes, including written consent to act as a liquidator (Form AA), public announcements (Form B), progress reports (Form C), intimation of security interest decisions (Form G), compliance certificates (Form H), and procedures for depositing or withdrawing unclaimed dividends and undistributed proceeds (Forms I and J). Stakeholders filing claims may utilize the corresponding forms notified under the Corporate Insolvency Resolution Process (CIRP) regulations, with references to the IRP/RP interpreted as references to the liquidator.
What you must do
Key dates
Who is affected
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INSOLVENCY AND BANKRUPTCY BOARD OF INDIA 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001
CIRCULAR
No. IBBI/LIQ/96/2026 | 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 (Liquidation Process) Regulations, 2016.
The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations), as amended by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Fourth Amendment) Regulations, 2026 specify various forms relating to the process to be notified by Board through circular .
| Sl. No. | Regulation | Description | Form |
|---|---|---|---|
| 1. | Regulation 8B | Written Consent to Act as Liquidator | Form AA |
| 2. | Regulation 12 | Public Announcement | Form B |
| 3. | Regulation 15 | Progress Report | Form C |
| 4. | Regulation 17 | Proof of Claim by Operational Creditors except Workmen and Employees | Corresponding claim forms notified under the CIRP Regulations will be applicable* |
| 5. | Regulation 18 | Proof of Claim by Financial Creditors | |
| 6. | Regulation 19 | Proof of Claim by a Workman or Employee | |
| 7. | Regulation 19 | Proof of Claim by Authorised Representative of Workmen or Employees | |
| 8. | Regulation 20 | Proof of Claim by any Other Stakeholder | |
| 9. | Regulation 21A | Intimation of decision on security interest | Form G |
| 10. | Regulation 45 | Compliance Certificate | Form H |
| 11. | Regulation 46(5) | Deposit of unclaimed dividends and / or undistributed proceeds | Form I |
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| 12. | Regulation 46(7), (7D) | Withdrawal from Corporate Liquidation Account | Form J |
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
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Annexure
FORM AA WRITTEN CONSENT TO ACT AS LIQUIDATOR (Regulation 8B of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)
[Date]
From [Name of the insolvency professional] [Registration number of the insolvency professional] [Address of the insolvency professional registered with the Board]
To The Committee [name of corporate debtor]
Subject: Written Consent to act as liquidator.
I, [name], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board, note that the committee proposes to appoint me as liquidator under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 for conducting liquidation process of [name of the corporate debtor].
In accordance with aforementioned regulation, 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 liquidator and have not acted as resolution professional of the corporate debtor. d. I am eligible to be appointed as liquidator of the corporate debtor under regulation 3 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 am having the following processes in hand:
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| Sl. No. | Role as | No. of Processes on the date of Consent |
|---|---|---|
| (1) | (2) | (3) |
| 1 | Interim Resolution Professional | |
| 2 | Resolution Professional of a. Corporate Debtors b. Individuals | |
| 3 | Liquidator of a. Liquidation Processes b. Voluntary Liquidation Processes | |
| 4 | Bankruptcy Trustee | |
| 5 | Authorised Representative | |
| 6 | Any other (Please state) |
Date: Place:
(Signature of the insolvency professional) Registration No. .......]
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FORM B PUBLIC ANNOUNCEMENT (Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)
FOR THE ATTENTION OF THE STAKEHOLDERS OF [Name of Corporate Debtor]
| Sl. No. | PARTICULARS | DETAILS |
|---|---|---|
| (1) | (2) | (3) |
| 1. | Name of the corporate debtor | |
| 2. | Date of incorporation of corporate debtor | |
| 3. | Authority under which corporate debtor is incorporated / registered | |
| 4. | Corporate Identity No. / Limited Liability Identification No. of corporate debtor | |
| 5. | Address of the registered office and principal office (if any) of corporate debtor | |
| 6. | Date of closure of Insolvency Resolution Process | |
| 7. | Liquidation commencement date of corporate debtor | |
| 8. | Name and registration number of the insolvency professional acting as liquidator | |
| 9. | Address and e-mail of the liquidator, as registered with the Board | |
| 10. | Address and e-mail to be used for correspondence with the liquidator |
Notice is hereby given that the National Company Law Tribunal (Name of Bench) has ordered the commencement of liquidation of the [Name of the corporate debtor] on [date of passing of order of liquidation under section 33 of the Code].
Name and signature of liquidator : Date and place :
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FORM C FORMAT OF PROGRESS REPORT (QUARTERLY) [Under regulation 15 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016]
I, [Name of the Liquidator], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board with registration number [registration number], am the Liquidator for the Liquidation Process of [name of the corporate debtor (CD)].
A. Appointment Tenure and cessation of the professionals during the quarter (Regulation 15(2)(a)):
| S. No. | Name and Qualification of the Professional | Date of engagement | Date of cessation | Description of work with duration | Fee |
|---|---|---|---|---|---|
| 1 | |||||
| 2 | |||||
| 3 |
B. Liquidator’s fee during the quarter (Regulation 15(2)(c)(i) &(iii)):
| Name of the Liquidator | Fee due | Fee received | Other expenses incurred by the liquidator (mention paid or not) |
|---|---|---|---|
C. Statement of progress in liquidation during the quarter (Regulation 15(2)(b)):
| S. No. | Particular | Remarks |
|---|---|---|
| 1 | Minutes of the meetings of the Committee [15(2)(b)(i)] | enclose in annexure |
| 2 | Asset Memorandum [15(2)(b)(ii)] | enclose in annexure |
| 3 | Sale Reports [15(2)(b)(iii)] | enclose in annexure |
| 4 | Settlement of list of stakeholders [15(2)(b)(iv)] | enclose in annexure |
| 5 | Property remained to be sold and realised [15(2)(b)(v)] | enclose in annexure |
| 6 | Distribution made to stakeholders so far [15(2)(b)(vi)] | enclose in annexure |
| 7 | Distribution of unsold properties [15(2)(b)(vii)] | enclose in annexure |
D. Development in the material litigations by or against the CD during the quarter (Regulation 15(2)(d))
| S. No. | Case No. | Court/Authority | Provision of law | Last status of the case. | Next date of hearing |
|---|---|---|---|---|---|
| 1 | |||||
| 2 |
E. Filing and development of Preferential, Undervalued, Fraudulent & Extortionate (PUFE) transaction cases during the quarter (Regulation 15(2)(e))
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| S. No. | Case No. | Provisions (Sec.43, 45, 49, 50 & 66) | Amount involved | Last status of the case | Next date of hearing |
|---|---|---|---|---|---|
| 1 | |||||
| 2 |
