The IPs are henceforth mandated to add assignments on the IBBI’s electronic portal upon their appointment in the following processes and capacities:
a. Interim Resolution Professional (IRP) under the Corporate Insolvency Resolution Process (CIRP).
b. Resolution Professional (RP) under the CIRP.
c. Liquidator under the Liquidation Process.
d. Liquidator under the Voluntary Liquidation Process.
e. Resolution Professional under Insolvency Resolution for Personal Guarantors.
f. Bankruptcy Trustee under the Bankruptcy Process for Personal Guarantors. g. Administrator under Insolvency and Liquidation Proceedings of Financial Service Providers
An IP shall access the portal with the help of a unique username and password provided to him by the IBBI. Once the assignment is added and approved by the IBBI, the IP shall proceed with subsequent compliances, including reporting requirements such as public announcements, EOIs, and auction notices, as applicable under different processes outlined in the Code
The timelines for filing of assignment shall be as follows:
a. New Assignments: For all cases commencing from the date of issuance of this circular, the IP shall add the assignment to the designated system within three (3) days of his/her appointment.
b. Ongoing Cases: For all ongoing cases (i.e., cases initiated before the issuance of this circular) where the assignment has not already been added, the IP shall add the assignment by 28th February, 2025.
c. Closed Cases: For all closed cases where the assignment has not already been added, the IP shall add the assignment by 31st March, 2025. However, for closed cases relating to Personal Guarantors, the assignments shall be added by 30th April 2025.
Link – https://ibbi.gov.in//uploads/legalframwork/713b4ed4c289b651c47d811bc997fbf9.pdf
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