The Insolvency and Bankruptcy Board of India (IBBI) has withdrawn the requirement for submission of Form IP-1 for all assignments under the Insolvency and Bankruptcy Code, 2016, with immediate effect. This follows the introduction of the Assignment Module on the IBBI electronic portal (vide circular dated 11th February 2025) and the revised forms framework (CP-1 to CP-5) for Corporate Insolvency Resolution Process (CIRP), effective from 1st June 2025, which replaces Form IP-1 and CIRP Forms 1 to 8. This circular is issued under the powers conferred by Section 196 of the Code.
Link – https://ibbi.gov.in//uploads/legalframwork/cf1c82fb3227d1d8a5c7ffbff544cf9f.pdf
