As per Circular dated 24/11/22

Insolvency Professionals
Particulars Form Existing Fees
Application Fees (One-time) Form A through Dedicated Online 10,000.00
Registration Module
Fees (5 yearly) Dedicated Online Module 10,000.00
Annual Fee Form E Through Dedicated Online 0.25% Of Professional
Module Fees Earned as IP In
Prev. FY
Regulatory Fee Physical Mode / Multiple Payment NA
Related to resolution plans Modes

Regulatory Fee Form EA - Physical Mode / NA

Related to hiring any professional or Multiple Payment Modes
other services

For Physical Mode Beneficiary Name : Insolvency

and Bankruptcy Board of India
Bank: Punjab National Bank A/c
No. : 0128002100302250 IFSC :
PUNB0112000 Branch : ECE
House, Connaught Place, New
Delhi-110001 GST Number:
07AAAGI0193K1ZD

\
Revised Fees As on 01/10/2022
20,000.00

20,000.00
1% Of Professional Fees Earned Upto 30th April
as IP In Prev. FY

0.25% of Realisable Value to

Creditors Under Resolution Plan
approved u/s 31 or Liquidation
Value (Whichever is more)
1.00% of the cost being booked
in IRP costs in respect of hiring
any professional or other services
by IRP or RP.
 Insolvency Professional Entities
Particulars Form Existing Fees

Application Fees for recognition as Form C through Dedicated Online 50,000.00

an IP (Onetime) Registration Module
Application Fees for registration of Form AA - Physical Mode / Multiple NA
IPE as an IP (One-time) Payment Modes
Fees (5 yearly) Physical Mode / Multiple Payment Modes NA
Annual Fee Form G submitted through dedicated 0.25% of Turnover in
online module Prev. FY

Change in composition of Board of Form F - Physical Mode / Multiple Rs.2,000/- per individual
IPE Payment Modes (cessation/ joining)
Revised Fees As on
01/10/2022
200,000.00

200,000.00

200,000.00
1% of Turnover in Prev. FY
to be paid upto 30th April
every year
Rs.2,000/- per individual
(cessation/ joining)
Form Period Covered and Scope To be
No. Filed by
IP 1 Pre-Assignment: This includes consent to accept assignment of an IP 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.

CIRP 1 From Commencement of CIRP till Issue of Public Announcement: IRP

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.

CIRP 2 From Public Announcement till replacement of IRP: This includes IRP
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.

CIRP 3 From Appointment of RP till issue of Information Memorandum RP

(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.

CIRP 4 From Issue of IM till issue of Request for Resolution Plans (RFRP): RP
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.

CIRP 5 From Issue of RFRP till completion of CIRP: This includes updated RP
list of claimants, updated CoC, details of
the resolution applicants, details of resolution plans received,
details of approval or rejection of resolutionplans 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.
CIRP 6 Event Specific: This includes: IRP or
a. Filing of application in respect of preferential transaction, RP, as the
undervalued transaction, fraudulent transaction, and extortionate case may
transaction; be.
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.

CIRP-7 Regulation 40B of CIRP regulations require filing of Form CIRP 7 IRP or RP
within three days of due date of completion of any activity stated in as the
column (2) of the table below is delayed, and continue to file Form case
CIRP 7 every 30 days, until the said activity remains incomplete. maybe

CIRP-8 Sub-regulation (1B) of regulation 40B of the CIRP Regulations RP

requires the resolution professional to file Form CIRP 8 intimating
details of his opinion and determination under regulation 35A, by
140th day of the insolvency commencement date. The Form CIRP 8
is required to be filed for all corporate insolvency resolution
processes ongoing or commencing on or after 14th July 2021.

Timeline

1 Filing of CIRP Forms for the purpose of monitoring corporate Upto

insolvency resolution processes and performance of IPE 30/09/2
4
2 Reporting liquidator’s decision(s) different from the advice of 5 Days
(SCC) In IBBI Website From
Date of
Such
Decision

3 form an opinion on transactions covered under sections 43, 45, by 75th

50 and 66 day
4 determination on such transactions by 115th
day
5 file an application before the AA by 135th
day
6 Compliance certificate in Form H, for the preceding financial 15th
year: October
 Timeline

Within three days of the relevant date.

Within seven days of making Public

Announcement under section
13.

Within seven days of

replacement of IRP.

Within seven days of issue of IM to members of

CoC.

Within seven days of the issue of RFRP.

Within seven days of the

approval or rejection of theresolution plan or
issue of order for liquidation, as the case may
be, by the AA.
Within seven days of the occurrence of event.

Initially: Within three days of the due date of

completion of any activity stated below.
Subsequently: Every 30 days, until any activity
stated below remains incomplete. 1. Public
announcement not made within 3 days of
appointment of IRP. 2. RP not appointed within
40 days of commencement of insolvency. 3. IM
not issued to CoC within 51 days of Public
Announcement. 4. RFRP not issued within 51
days of issue of IM. 5. CIRP not completed
within 180 days of commencement of
insolvency. Only one Form shall be filed at any
time whether one or more Page 11 of 17
activity is not completed by the specified date.

Within 140 days of the Insolvency

Commencement date.
Claim Empanelment
Trimurti Complince
 ROC Compliances for Private Limited Company

Form Description *Due date

An annual statement for submitting details of the business of the LLP
Form 11(Annual returns of an
andLLP)
its partners. All registered LLPs should file the form within 60 30-May-24
days from the close of the end of the financial year.
30 May 2024
Reconciliation of Share Capital Audit Report to be filed after 60 days and 29
PAS-6 (Filed half-yearly)
from the end of each half-year by unlisted public companies. November
2024
Return of Deposits. Every company needs to file this return
DPT-3 furnishing information about deposits and/or outstanding receipt of 30-Jun-24
loan or money other than deposits
Director KYC submission for DIN holders as of 31 March 2022. Every
DIR-3 KYC person who has a DIN allotted and the status of the DIN is 30-Sep-24
‘Approved’.
Form ADT-1 To be filed in less than 15 days from the conclusion of AGM. Every
company should intimate the ROC about the appointment of an 14-Oct-24
(Appointment of auditor) auditor.
Form 8 The form should be filed annually with the ROC. It is also known as
(Financial Reports of an the statement of accounts and solvency. Every LLP should submit 30-Oct-24
LLP) the data of its profit or loss and balance sheet.

Form AOC-4
To be filed 30 days from the conclusion of AGM. Specified companies 30-Oct-24
should file the financial statem
(Filing of annual accounts)

To be filed within 60 days from the conclusion of AGM. Every

MGT-7(Filing of annual
company should file an annual return, furnishing details about the 29-Nov-24
returns)
company.
Filing of resolutions with the ROC regarding Board Report and
MGT-14(Filing of resolution
Annual Accounts. The details of the resolutions passed should be 30-Oct-24
with MCA)
filed. (Within 30 days of passing of Board Resolution)
All specified companies should file a half-yearly return with the 30 April 2024
Form MSME(outstanding
registrar for outstanding payments to Micro, Small and Medium and 31
payments to MSME’s)
Enterprises. October 2024
Period

FY 2023-24

FY 2023-24

FY 2023-24

FY 2023-24
FY 2023-24
FY 2023-24
FY 2023-24

FY 2023-24

FY 2023-24

FY 2023-24

FY 2022-23
Sr. No. Particulars
1 Disclosures
Relationship of IP With
Corporate debtor
Registered valuers / accountants/ legal professionals/ other professionals appointed by
him
Financial creditors
Interim finance providers
Prospective resolution applicants
2 Relationship of the other professional with
Insolvency professional
Corporate debtor
Financial creditors
Interim finance providers

Prospective resolution applicants

3 Public Announcement
4 Form I : Details of Corporate Debtor Undergoing Insolvency
Resolution Process
5 Form II : Insolvency Resolution Process Cost of Corporate Debtor
for the period under IRP
6 Form III: Insolvency Resolution Process Cost of Corporate Debtor
for the period under RP
7 Half Yearly Return

8 Annual FEES
Timeline

Within 3 Days of:

his appointment.
appointment of the professionals.

the constitution of committee of creditors.

the agreement with the interim finance provider.
the supply of information memorandum to the prospective resolution applicant.
Within 3 Days of:
the appointment of the other professional.
the appointment of the other professional.
constitution of committee of creditors.
the agreement with the interim finance provider or three days of the appointment of the other
professional, whichever is later.
the supply of information memorandum to the prospective resolution applicant or three days of the
appointment of the other professional, whichever is later.

3 Days From Date of his Appointment

To be submitted by the IRP within Seven Days of his demitting office as IRP

To be submitted by the IRP within Seven Days of his demitting office as IRP

To be submitted by the RP within Seven Days of his demitting office as RP

within 15 days from

the end of respective Half Year
10,000+GST For IP and %0,000+GST For IPE, Due Date: 30th April
Sr. No By Particulars Within
1 IP submit the copy of public announcements including EOI in respect of 7 Days of appointment
each assignment under IBC as
IRP/RP/Liquidator/AR/
Bankruptcy Trustee

2 IP Public Announcement by the Interim Resolution Professional

3 IP Brief particulars of Invitation of Resolution Plans by the Resolution

Professional

4 IP Public Announcement by the Interim Resolution Professional

5 IP Brief particulars of Invitation of Resolution Plans by the Resolution

Professional

6 IP Public Announcement by Liquidator

7 IP Public Announcement by Liquidator
Form At
Online Module
of IIIPI

Form A under [email protected]

regulation 6 (2) (b) (iii)
of the IBBI (Insolvency
Resolution Process for
Corporate Persons)
Regulations, 2016

Form G under [email protected]

regulation 36A (5) (b)
of the IBBI (Insolvency
Resolution Process for
Corporate Persons)
Regulations, 2016

Form A under [email protected]

regulation 6 (2) (b) (iii)
of the IBBI (Fast Track
Insolvency Resolution
Process for Corporate
Persons) Regulations,
2017

Form G of the [email protected]

Schedule under
regulation 35A (5) (b)
of the IBBI (Fast Track
Insolvency Resolution
Process for Corporate
Persons) Regulations,
2017

Form B of Schedule II [email protected]

under regulation 12 (3)
(c) of the IBBI
(Liquidation Process)
Regulations, 2016
Form A of Schedule I [email protected]
under regulation 14 (3)
(c) of the IBBI
(Voluntary Liquidation
Process)
Regulations, 2017
 Compliances

S. No Governing Provision Description

1. Compliances Befo
1 IBBI circular dated Submission of Form IP-1
14th August, 2019

2. Compliances During L
1 Section 33 & When Liquidattion order is Passed, it is considered as
34(1) of the Code LCD
and Regulation 3
of Liquidation
2 Process
Regulation 41 of Opening of Bank Account in the name of
Liquidation Corporate Debtor followed by the words ‘Liquidation’
Process
Regulations
3 Regulation 31A Public Announcement in Form B
of
LiquidationProcess
Regulations

4 Regulation 35(2) First Meeting of Consultation Committee

of Liquidation
Process
Regulations

5 Regulation 35(2) of Appointment of Registered Valuers

Liquidation Process
Regulations

6 Section 38(1) of the Submission of Claims and intimation of decision of

code and Regulation relinquishment of security interest
17,
18, 19, 20 and
21A of Liquidation
Process
Regulations

7 Regulation 32B of Preparation of an Asset Memorandum (in cases which

Liquidation Process are covered under Regulation 35(1) of Liquidation
Regulations Regulations)
 8 Section 38(5) of the Withdrawal/Modification of Claims by the creditor
code
9 Regulation 30 of Verification of Claims
Liquidation Process
Regulations

10 Regulation 31A of Constitution of SCC for advise in:

Liquidation Process -Remuneration of professionals
Regulations -sale under regulation 32, including manner of sale,
pre-bid qualifications, reserve price, marketing
strategy and auction process
-fees of the liquidator
-valuation under sub- regulation (2) of regulation 35
-manner in which PUFE transactions
will be pursued.

11 Section 40(2) of the Intimation w.r.t. acceptance/rejection of claims

code
12 Regulation 31(2) of Preparation and submission of list of stakeholders
Liquidation Process
Regulations

13 Regulation 13 of Submission of Preliminary Report

Liquidation Process
Regulations
14 Regulation 32B of Preparation of Asset Memorandum (in cases which
Liquidation Process are covered under Regulation 35(1) of Liquidation
Regulations Regulations)

15 Regulation 15 Submission of Progress Reports to the AA and IBBI,

(1), (2), (3), (4), in the format stipulated by IBBI.
(5), and 36 of
Liquidation Process
Regulations

16 Regulation 37(2), (3) Intimation to secured creditor, if a person is willing to

of buy the secured asset
Liquidation
Process Regulations
17 Regulation 32A of Sale of Corporate Debtor or its business as going
Liquidation Process concern
Regulations

18 Section 53 & The proceeds from the sale of the liquidation

Regulation 42 of assets shall be distributed in the following order of
Liquidation Process
Regulations priority

19 Regulation 10 Disclaimer of Onerous Property

(1) of
Liquidation Process
Regulations

20 Regulation 10 Notice to person interested in Onerous Property

(3) of Liquidation
Process Regulations

21 Regulation 45 of Submission of Final Report prior to dissolution of

Liquidation Process Corporate Debtor
Regulations

22 Sec 54 Dissolution of Corporate Debtor

23 Regulation 44 of Completion of Liquidation

Liquidation Process
Regulations
24 Regulation 46 Deposit amount of Unclaimed dividends and
(2) of Liquidation undistributed proceeds in a liquidation process into
Process Regulations Corporate Liquidation Account

25 Regulation 5(2) of Preservation of records

Liquidation Process Preserve physical as well as electronic copy of
Regulations following:

26 Regulation 6(1) of The liquidator shall maintain the following registers

Liquidation Process and books:
Regulations * Cash Book;
* Ledger;
* Bank Ledger;
* Register of Fixed Assets and Inventories;
* Securities and Investment Register;
* Register of Book Debts and Outstanding Debts;
* Tenants Ledger;
* Suits Register;
* Decree Register;
* Register of Claims and Dividends;
* (Contributories Ledger;
* Distributions Register;
* Fee Register;
* Suspense Register;
* Documents Register;
* Books Register;
* Register of unclaimed dividends and undistributed
proceeds; and
* such other books or registers as may be necessary to
account for transactions entered into by him in
relation to the corporate debtor.

27 Regulation 6(2) of Maintenance of Registers and Books of accounts

Liquidation Liquidator shall maintain the registers and books
Process

3. General Com
1 Clause 8A of An insolvency professional shall disclose to IPA
Schedule of First “Whether he was an employee of or has been in the
Schedule of Code of panel of any financial creditor of the corporate
Conduct of the IP debtor”
regulations The IP shall disclose above mentioned details to CoC
also.
2 Regulation 5(d) of Liquidator is required to file the list of stakeholders
Liquidation and update thereof on the electronic platform of the
Regulations and IBBI Board (IBBI) as per the specified format.
Circular dated 4th
March,
2021

3 IBBI circular dated An insolvency professional shall, while undertaking

3rd January, 2018 assignment or conducting processes, exercise
read with Clause 27A reasonable care and diligence and take all necessary
of Schedule of First steps to ensure that the corporate person complies with
Schedule of Code of
Conduct of the the applicable laws
IP regulations

4 IBBI Circular dated Filing of Documents in the MCA-21 Registry

17th February, 2020 1) NCLT Order approving IP as the liquidator in Form
INC-28 on the MCA21 portal (while affixing DSC-
choose designation as “Others”)
2) Once INC28 form is approved, the IP shall choose
designation as “Chief Executive Officer” for purpose of
filing further e-forms.
3) For filing E-Form SH-8, SH-9 and iXBRL, IRP to fill
designation as CEO.
4) For MGT-7 IP to sign form instead of director,
thereafter form to be certified by a Company
Secretary.
5) INC-28 to be filed again post approval of the
resolution plan, initiation of liquidation proceedings or
upon withdrawal of the application for CIRP.
6) Any stay or setting aside of the order of liquidation
by the Tribunal concerned has to be filed in form INC-
28.

5 IBBI Circular dated Filing of Documents in the MCA-21 Registry

6th March, 2020 1) Formal Change Request form to be submitted for
change in the status of the company from “Active”/
“Inactive” to CIRP/ Liquidation or vice versa.
2) For companies marked under CIRP in registry, e-
form MGT-7, AOC-4 and other documents to be filed
as attachments with e- form GNL-2 against the
payment of one time normal fee, till the company
remains under CIRP. Separate GNL-2 forms to be filed
for each such document.
3) The circular is applicable in retrospective effect. i.e.
every IP of Companies under CIRP before this circular
to also comply with it.
Norms Time Limit Remarks
1. Compliances Before Liquidation
Within 3 days of To be submitted at online portal of IBBI using login
giving consent as credentials.
Liquidator
2. Compliances During Liquidation Period
T

All payments out of the account by the liquidator above five

thousand rupees shall be made by cheques drawn or online
banking transactions against the bank account

Within 5 days of LCD T+5 Public announcement shall be published- - in one English and
one regional language newspaper - on the website, if any, of
the corporate debtor - on the website, if any, designated by the
Board for this purpose.
The assignment needs to be added at online portal of IBBI
along with copy of Liquidation order.

Within 7 days of LCD T+7 The committee of creditors under section 21 shall function as
the consultation committee with same voting rights till
constitution of the stakeholder consultation committee under
sub regulation (1)

The advice of the consultation committee shall not be binding

on the liquidator: (Decision different from the advice of
committee, shall be submitted to IBBI & AA within 5 days of
said decision and include in progress report.

Within 7 days of LCD T+7 The liquidator shall consider the average of the estimates of
the values arrived by the registered valuers appointed under
the CIRP
If liquidator is of the opinion that fresh valuation is required
under the circumstances, he shall appoint the valuers within 7
days.

Within 30 days from the LCD T+30 Where stakeholder does not submit its claims during the
liquidation process, the claims submitted during CIRP shall
deemed to be submitted under Section 38

Within 30 days from LCD T+30 The liquidator shall share the AM with IBBI and members of
the consultation committee after receiving an undertaking of
confidentiality.
Within 7 days of submission T+44
of claims
Within 30 days from the last T+60 Liquidator shall also verify the claims collated during CIRP
date of receipt of claims but not submitted during the liquidation process, within 30
days from the last date for receipt of claims during liquidation
process and may either admit or reject the claim,
in whole or in part
Within 60 days from the T+60 The voting share of a member of the consultation committee
liquidation commencement shall be in proportion to his admitted claim in the total
date (LCD) admitted claim:

Within 7 days of admission T+67

/rejection of the claim
Submission within 45 days T+75 The list of stakeholders shall be modified with the approval of
from the last date of receipt of AA.
claims The list of stakeholders shall be:
- available for inspection
- displayed on the website, if any, of the corporate debtor
- filed on the electronic platform of the Board

Within 75 days from the LCD T+75

Within 75 days of from the T+75 The liquidator shall share the AM with IBBI and members of
LCD the consultation committee after receiving an
undertaking of
confidentiality.

* First progress report Quarter+15  Every Progress report shall be accompanied with Asset Sale
within 15 days after the end Report, if sales are made
of the quarter in which  As per proviso to Reg 15(1) if an IP ceases as
Liquidator is appointed Liquidator he shall submit progress report with 15 days his
* Subsequent progress cessation
reports within 15 days after
the end of every quarter

Within 21 days of the receipt

of Intimation from such
secured creditor
Within 90 days of the If the liquidator is unable to sell the corporate debtor or its
liquidation commencement business as a going concern within ninety days, he shall sell
date the assets of the corporate debtor under clauses (a) to (d) of
regulation 32.

Within 90 days from the Date of realization The insolvency resolution process costs, if any, and the
receipt of the amount + 90 liquidation costs shall be deducted before distribution is
made

Within 6 months from the T+ 6 months

receipt of the amount

At least seven days

before making an application
for disclaimer to the
Adjudicating Authority

Final Report shall be submitted along with application and

compliance certificate in Form-H
The liquidator shall, on the advice of the consultation
committee, provide in the application along with the final
report filed the manner in which proceedings in respect of
avoidance transactions, if any, under Chapter III or fraudulent
or wrongful trading under Chapter VI of Part II of the Code,
will be pursued after the dissolution or closure of liquidation
process and the manner in which the proceeds, if any, from
such proceedings
shall be distributed.]

Application has to be submitted for dissolution once the

assets are liquidated.
Copy of the Order of Dissolution shall be forwarded by
liquidator within seven days to the authority with which the
corporate debtor is registered.

Within a period of 1 year T+365 Provided that where the sale is attempted as per Regulation
from the LCD 32A, the liquidation process may take an additional period
upto 90 days.
If the liquidator fails to liquidate the corporate debtor within
one year, he shall make an application along with report
explaining why it was not completed and specifying the
additional time that shall
be required for liquidation.
Before submission of ---------- Evidence of deposit shall be submitted along with statement
application for in Form-I stating nature of deposit and the names and last
completion of known addresses of the stakeholders entitled to receive the
liquidation under Regulation unclaimed dividends or undistributed proceeds as per
45 (3) Regulation 46(5)

For 8 years after the dissolution of the corporate debtor

For 8 years after the dissolution of the corporate debtor.

The liquidator shall keep receipts for all payments made or
expenses incurred by him

For 8 years after the dissolution of the corporate

debtor

3. General Compliances
On constitution of CoC/ on IP
becoming aware
subsequently.
To be filed within 3 days of This circular is applicable to every liquidation process (a)
the ongoing as on the date of notification and (b) commencing on
preparation and modification or after the
said date i.e. 4th March, 2021.

During the CIRP and Liquidation process

During the CIRP and Liquidation process

During the CIRP and Liquidation process

Type

To be submitted with
IBBI/IPA

Procedural

Procedural

Procedural

Procedural

Procedural

Procedural

Procedural
Procedural

Procedural

Procedural

Procedural

Procedural

Procedural

Procedural

Procedural
Procedural

Procedural

Procedural

Procedural

Procedural

Procedural

Procedural
Procedural

Procedural

Procedural

Procedural

To be submitted with
IPA
General compliances

General compliances

To be submitted with the

Ministry of Corporate
Affairs

To be submitted with the

Ministry of Corporate
Affairs
 Order Date 4/24/2024

Sr. no. As per Compliances Timeline Due Date

Public Notice on Behalf of AA, if

1 Sec 102 7 days of Order Date 5/26/2024
asked in order

The RP shall furnish two spare

2
copies of notice to registry
21 days from date of
3 Sec 102 Last Date for submission of claim 6/16/2024
Public Notice

30 days from date of

4 Sec 104 Prepare list of Creditors 6/25/2024
Public Notice

5 Periodic Report to NCLT Every 30 Days 5/24/2024

Submit Repayment Plan along 21 Days from Last date

6 Sec 106 7/7/2024
with his report on plan to AA of Submission of Claim

At least 14 days before

7 Sec 107 Notice of Meeting of Creditors
the date of meeting

After 14 days but upto

8 Sec 108 Conduct Meeting of Creditors 28 days from last date
of report of Point no 6.

The RP shall prepare report of the

9 Sec 112 meeting and submit the same to
Tribunal, Debtor and Creditors

The RP shall file the repayment Before 120 days from

10 Regulation 19 plan along with report on resolution 8/22/2024
meeting/ repayment plan to AA commencement date.
 Provide copies of above filing to within 3 days of above
11 Regulation 19 8/25/2024
guarantor & creditors filing

Issue notice for failure of

repayment plan to Guarantor
Within 3 days of
asking him within 15 days to
12 Regulation 20 knowledge of such
(a) address the failure
failure.
(b) provide explaination for the
failure

If Guarantor addresses/ explains

within 7 days from
13 Regulation 20 the failure, report the failure to
reply of guarantor
the creditors

Upon completion of the

repayment plan, the RP is
required to submit the following
documents to both the AA and Within 7 days of
the individuals bound by the Completion of Plan
repayment plan.:
14 Sec 117
However, RP may apply
(a) a notice that the repayment for extension for
plan has been fully implemented further 7 Days
(b) a copy of a report by the RP
summarizing all receipts and
payments
 Details
Notice shall include:

a. details of the order admitting the application;

b. particulars of the RP with whom the claims are to be registered; and
c. the last date for submission of claims

Prepare a list of creditors on the basis of :

a. the information disclosed in the application filed by debtor

b. claims received by the RP

The Repayment plan (PREPARED BY DEBTOR) shall include:

a. justification for preparation of such repayment plan and reasons based on which the creditors
may agree upon the plan;
b. provision for payment of fee to the RP;
c. such other matters as may be specified.

Notice shall include:

(a) a copy of the repayment plan;

(b) a copy of the statement of affairs of the debtor;
(c) a copy of the said report of the RP
(d) forms for proxy voting.
(e) Address of AA

If RP is recommends that meeting of creditors is not required, he shall provide the reasons.

The RP may adjourn the meeting for a period less than 7 days

The Report shall contain:

(a) whether the repayment plan was approved or rejected and if approved, the list the
modifications, if any;
(b ) the resolutions which were proposed at the meeting and the decision on such resolutions;
(c ) list of the creditors who were present or represented at the meeting, and the voting records
of each creditor for all meetings of the creditors
(d) such other information as the RP thinks appropriate to make known to the AA.
If guarantor does not respond and RP is of opinion that failure will affect the repayment plan,
then RP may apply to AA
S. No Governing Provision Description
1. COMPLIANCES BEFORE COM
1 IBBI Submission of Form IP-1
circular dated
14th August, 2019
2. COMPLIANCES DUR
1 Regulation 27 of Appointment of registered valuers
CIRP Regulations

2 IBBI circular dated Relationship disclosure

16th January, 2018 The Interim resolution professional is to disclose
his/her relationship
3 Regulation 36 Submission of IM to CoC
(1)

4 Regulation 40(B)(1) Submission of Form CIRP-3

of CIRP
Regulations & IBBI
circular dated
14th August, 2019
5 Regulation 36A Publish Form G & invite expression of interest

6 Regulation 36A Submission of expression of interest

7 Regulation 36A Issuance of provisional List of RAs by RP

8 Regulation 36A Submission of objections to provisional list

9 Regulation 36B Issue of Request for Resolution Plan, including

Evaluation Matrix and Information Memorandum to
every prospective resolution applicant (whose name is
there in the list or
who has contested for exclusion of its name)
10 Regulation 40(B)(1) Submission of Form CIRP-4
of CIRP
Regulations & IBBI
circular dated
14th August, 2019
11 Regulation 36A Issuance of final List of RAs by RP

12 Regulation 36B Receipt of Resolution Plans from resolution applicants

13 Regulation 39(4) Submission of CoC approved Resolution Plan to AA

14 Section 31(1) Approval/ Rejection of resolution plan by AA

15 Regulation 40(B)(1A) If CIRP is not completed by T+180th day CIRP-7
of CIRP (event based)
Regulations

16 Regulation 40(B)(1) CIRP-6 (event based)

of CIRP Extension of period of CIRP and exclusion of time;
Regulations & IBBI
circular dated 14th
August,
2019

17 Regulation 40(B)(1) Submission of Form CIRP-5

of CIRP
Regulations & IBBI
circular dated
14th August, 2019

18 Regulation 34 A of Cost disclosure

CIRP An insolvency professional shall disclose the fee
Regulations payable to him, the fee payable to the insolvency
Clause 25A of First professional entity, and the fee payable to
professionals engaged by him to the IPA.
Schedule of IP
Regulations
IBBI
Circular dated 12th
June 2018

19 Section 12(A) / Withdrawal of CIRP

Regulation 30A Submission of application for withdrawal of
application admitted
20 CoC to dispose of the application

21 Filing application of withdrawal, if approved by CoC

with 90% majority voting, by RP to AA
22 Regulation 40(B)(1) CIRP-6 (event based)
of CIRP Premature closure of CIRP (appeal, settlement,
Regulations & IBBI withdrawal, etc.);
circular dated
14th August, 2019
23 Regulation 40(B)(1) CIRP-6 (event based) Event Specific:
of CIRP This includes:
Regulations & IBBI a) Filing of application in respect of preferential
circular dated 14th transaction, undervalued transaction, fraudulent
transaction, and extortionate transaction;
August, 2019 b) Raising interim finance;
c) Insolvency resolution process of
 Norms Time Limit Remarks
1. COMPLIANCES BEFORE COMMENCEMENT OF WORK
Within 3 days of giving
consent as RP To be submitted at online portal of IBBI using login
credentials.
2. COMPLIANCES DURING RP'S STAGE
Within 7 days of appointment T+47
of RP, but not later than 47th
day of commencement

Within 3 Days of T+50 To be submitted at online portal of IPA using login

appointment of valuers/Other credentials.
Professionals
Within 2 weeks of T+54 (Non disclosure undertaking shall be obtained from each CoC
appointment of RP, but not member before submitted IM to them)
later than
54th day of commencement
Within 7 days of the issue of T+61 To be submitted at online portal of IBBI using login
IM to CoC credentials.

Within 75 days of T+75 Form G will be published in 2 newspapers (English &

commencement regional language), to be uploaded on the website of CD, on
the website of IBBI (it needs to be uploaded using
member login)
At least 15 days from issue of T+90 The applicants shall submit EOI with Non disclosure
EoI (Assume 15 days) undertakings.
Within 10 days from the last T+100
day of receipt of EoI
For 5 days from the date of T+105
provisional
list
Within 5 days of the issue of T+105 Evaluation matrix shall be approved by the CoC.
the provisional list

Within 7 days of the issue of T+112 To be submitted at online portal of IBBI using login
the RFRP to CoC credentials.

Within 10 days of the receipt T+115

of objections
At least 30 days from issue of T+135
RFRP (Assume 30 days)
As soon as approved by the T+165 Along with compliance certificate in Form H
CoC
T+180
Due date of compliance + 3 T+ 183 To be submitted at online portal of IBBI using login
days & continue to file credentials.
Form CIRP 7,
every 30 days,

Within seven days of the - To be submitted at online portal of IBBI using login
order of AA credentials.

Within 7 days of the approval T+187 To be submitted at online portal of IBBI using login
or credentials.
rejection of Resolution plan,
or issue of liquidation order
as the case may be.

Within 7 days of demitting T+187 To be submitted at online portal of IPA using login
the office as RP, as the case credentials.
may be (either by way of
removal/ replacement/
conclusion of assignment)

Before issue of EoI W

Within 7 days of its receipt or W+7

7 days of constitution of CoC,
whichever is later
Within 3 days of approval by W+10
CoC
Within seven days of the - To be submitted at online portal of IBBI using login
order of AA credentials.

Within seven days of the To be submitted at online portal of IBBI using login
occurrence of event. credentials.
Type

To be submitted with
IBBI/IPA

To be submitted with
IPA/IBBI

Procedural

To be submitted with
IBBI/IPA

Procedural

Procedural

Procedural

Procedural

Procedural

To be submitted with
IBBI / IPA

Procedural

Procedural
Procedural

Procedural
To be submitted with
IBBI / IPA

To be submitted with
IBBI / IPA

To be submitted with
IBBI / IPA

To be submitted with
IPA/IBBI

Procedural

Procedural

Procedural

To be submitted with
IBBI / IPA

To be submitted with
IBBI / IPA
S. No Governing Provision Description
1. COMPLIANCES BEFORE COM
1 IBBI Submission of Form IP-1
circular
dated
14th August,
2018
2. COMPLIANCES DUR
1 Regulation Public announcement inviting claims
6(1) of CIRP
regulations
 Norms Time Limit Remarks
1. COMPLIANCES BEFORE COMMENCEMENT OF CIRP
Within 3 days of To be submitted at online
giving consent portal of IBBI using login
credentials.

2. COMPLIANCES DURING IRP'S STAGE

not later than 3 Form A of public announcement to be submitted to IBBI at
Days from date [email protected] within 3 days of appointment of IRP.
of his
appointment T+3
Type

To be submitted
with IBBI/IPA