The Insolvency and Bankruptcy Board of India (IBBI) on December 21, 2023, issued Clarification regarding the submission of particulars and declaration by the insolvency professionals in the application filed by creditor(s) in Part IV of Form C of the IRP PGCD Rules.
The following has been stated namely: -
• It is clarified that in cases where the creditor may file the application itself recommending the name of the insolvency professional to be appointed as RP, the insolvency professional proposed to be appointed as RP shall also provide the particulars of and declaration in Part IV of Form C of the IRP PGCD Rules to the creditor for the consideration of the AA.
[Notification No. IBBI/II/62/2023]
