The Insolvency and Bankruptcy Board of India (IBBI) has introduced a Modification Utility on its electronic portal, enabling Insolvency Professionals (IPs) to modify CIRP forms already submitted, to rectify errors or omissions, through an OTP-based authentication process. If a form is originally filed and modified before its due date, no fee shall be levied, as the fee under Regulation 40B(4) applies only after the last due date. Further, pursuant to Circular No. IBBI/CIRP/85/2025 dated 26 May 2025, it is notified that for all CIRP forms due on or before 31 December 2025 and submitted after that date—whether by correction, updation, or otherwise a fee of ₹500 (excluding GST) per form per calendar month of delay shall be payable, in accordance with Regulation 40B of the CIRP Regulations, 2016.
Link – https://ibbi.gov.in/uploads/legalframwork/dc934e519c330afdfd05c2084073bff9.pdf
