The Insolvency and Bankruptcy Board of India (IBBI), on January 5, 2026, issued a circular announcing the launch of revised forms for monitoring and reporting under the liquidation process. This follows amendments notified on January 2, 2026, to the IBBI (Liquidation Process) Regulations, 2016, mandating insolvency professionals to file specified forms along with enclosures on the Board’s electronic platform within prescribed timelines.
The revised framework comprehensively overhauls the existing liquidation forms with the objective of reducing compliance burden by eliminating duplication, rationalising data requirements, and enabling auto-population of information already available on the portal. The new framework introduces four forms (LIQ-1 to LIQ-4) covering the liquidation lifecycle from commencement to dissolution or closure, with clearly defined timelines for submission linked to key procedural milestones before the Adjudicating Authority.
The circular further provides operational clarifications, including phased availability of forms from January 1, 2026, relaxation from penalties for delayed filings during the initial quarter (January–March 2026), mandatory electronic filing with DSC or e-sign, and introduction of a form-modification utility to correct errors prior to the due date. It also reiterates that non-compliance, including failure to file forms or submission of inaccurate information, shall attract regulatory consequences under the Code.
[Notification No. IBBI/LIQ/91/2026]
