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

Last updated: 21 July 2021
Quick Summary
This circular from the Insolvency and Bankruptcy Board of India (IBBI) outlines the requirements for filing Form CIRP 8. This form is mandatory for all ongoing or new corporate insolvency resolution processes initiated on or after 14th July 2021. It requires resolution professionals to report their opinions and determinations regarding transactions covered under specific sections of the Insolvency and Bankruptcy Code, 2016.

Insolvency and Bankruptcy Board of India 7thFloor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No.: IBBI/CIRP/42/2021 20thJuly, 2021 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies
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FAQ :

Form CIRP 8 is a mandatory form that resolution professionals must file to intimate details of their opinion and determination on certain transactions under Regulation 35A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

Form CIRP 8 must be filed by resolution professionals for all corporate insolvency resolution processes that are ongoing or commencing on or after 14th July 2021.

The form must be filed by the 140th day of the insolvency commencement date.

The form requires details of the insolvency professional, the corporate debtor, and specific information regarding preferential and other transactions covered under sections 43, 45, 50, and 66 of the Insolvency and Bankruptcy Code, 2016.

Form CIRP 8 should be filed online on the Board's website.

 
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