The Insolvency and Bankruptcy Board of India (IBBI) on February 06, 2026, issued circular regarding the Filing of Forms to monitor insolvency resolution processes for Personal Guarantors to Corporate Debtors under the Insolvency and Bankruptcy Code, 2016.
Insolvency and Bankruptcy Board of India (IBBI) has introduced a new electronic filing system for submitting information related to the insolvency resolution process of personal guarantors to corporate debtors. Earlier, resolution professionals submitted periodic information to the Board through emails, which was considered time-consuming and inefficient. Under Regulation 23 of the Insolvency Resolution Process for Personal Guarantors to Corporate Debtors Regulations, 2019, resolution professionals are required to submit prescribed forms within specified timelines.
To improve efficiency and transparency, IBBI has developed a set of electronic forms available on its online platform. Insolvency Professionals (IPs) handling such assignments must log in with a unique username and password provided by IBBI and submit the required forms along with supporting records using Digital Signature Certificate (DSC) or e-sign. The system also provides a modification utility that allows corrections through an OTP-based authentication process. These forms aim to streamline reporting, reduce delays, and improve the accuracy and reliability of information submitted during the insolvency process.
The circular also specifies deadlines for filing forms depending on the stage of the case under the Insolvency and Bankruptcy Code, 2016. To help IPs familiarize themselves with the system, penalties for delayed submission or modification will apply only after June 30, 2026. However, IPs remain responsible for timely, complete, and accurate submission of information, failing which the Board may take regulatory action, including refusal to issue or renew the Authorisation for Assignment.
[Circular No. IBBI/II/92/2026]
