Feature for the modification of CIRP Forms (including IP-1 Form) which is submitted by an Insolvency Professional in compliance of regulation 40B of the Insolvency & Bankruptcy Board of India (Insolvency resolution Process for Corporate Persons) Regulations, 2016-
By EDITORIAL TEAM - INSOL India Posted On : April 21, 2020
As per Sub-regulation 3 of regulation 40B of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for the Corporate Persons) Regulations, 2016, an IP shall ensure that the Forms and its enclosures filed under this regulation are accurate and complete. Sub-regulation (4) enables the modification of a form already filed, either by way of correction or updation, upon payment of a fee. A feature has been enabled by the Insolvency and Bankruptcy Board of India for the modification of forms which have already been submitted, upon payment of an applicable fee, by submitting a modified form on the platform.