IBBI extends Time for filing Forms to Monitor Liquidation and Voluntary Liquidation Processes under IBC [Read Circular]
Considering the above-mentioned representations and difficulties faced by the liquidator, IBBI decided to extend the Due Date
IBBI – Insolvency and Bankruptcy Board of India – IBBI extends Time for filing Forms – IBC – Taxscan
IBBI – Insolvency and Bankruptcy Board of India – IBBI extends Time for filing Forms – IBC – Taxscan
The Insolvency and Bankruptcy Board of India ( IBBI ) extended the time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder.
The liquidators were directed to file forms relating to the liquidation and voluntary liquidation
process by 30.09.2024. The last date for submission of forms was extended till 30.11.2024 vide Circulars No. IBBI/LIQ/76/2024 and No. IBBI/LIQ/77/2024.
In this regard, representations have been received from the liquidators and Insolvency Professional Agencies for extending the date citing the technicalities and issues involved in the submission of the forms.
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Considering the above-mentioned representations and difficulties faced by the liquidator, the IBBI has decided to extend the last date of submission of the liquidation and voluntary liquidation forms till 31.12.2024.
Read More: Inflexible Rule cannot be Laid Down to Condone Delay u/s 61 of IBC: NCLAT
It was further clarified that, for ongoing liquidation and voluntary liquidation cases, the responsibility for filing all forms shall lie with the Insolvency Professionals ( IP ) currently handling the process. Moreover, in cases where an application for closure or dissolution has been filed, or a dissolution or closure order has been passed, the IP under whose tenure the said application was filed or the order was passed shall be responsible for filing all forms related to the particular case, the extension circular added.
To Read the full text of the Order CLICK HERE
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