Filing of Form CIRP 8 under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 – IBBI Circular No.IBBI/CIRP/42/2021 dt. 20.07.2021

Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001

CIRCULAR

No.: IBBI/CIRP/42/2021

20th July, 2021

To
All Registered Insolvency Professionals
All Recognised Insolvency Professional Entities
All Registered Insolvency Professional Agencies
(By mail to registered email addresses and on website of the IBBI)

Dear Madam / Sir,

Sub: Filing of Form CIRP 8 under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Regulation 35A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) requires the resolution professional to form an opinion on transactions covered under sections 43, 45, 50 and 66 by 75th day, make determination on such transactions by 115th day, and file an application before the Adjudicating Authority by 135th day of the insolvency commencement date. Sub-regulation (1B) of regulation 40B of the CIRP Regulations 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. The format for Form CIRP 8 is at Annexure.

2. It is directed that the Form CIRP 8 shall be filed in accordance with regulation 40B of the CIRP Regulations on the Board’s website, like other CIRP Forms.

3. This is issued under clauses (aa), (g), (h) and (k) of sub-section (1) of section 196 of the Insolvency and Bankruptcy Code, 2016 and regulation 40B of the CIRP Regulations.

Yours faithfully,
Sd/-
(Dr. Kokila Jayaram)
Deputy General Manager
Email: kokila.jayaram@nic.in

Encl.: Annexure.

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