CIRP Forms e-Filing – New IBBI Penalties for Delays

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  • Last Updated on 23 May, 2025

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IBBI Regulation 40B

Notification No. IBBI/2025-26/GN/REG126; Dated: 19.05.2025

1. Regulatory Snapshot

The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2025 substitute Regulation 40B with effect from 1 June 2025.

2. What IRPs/RPs Must Do Now

  1. Map new deadlines into your case trackers—Day 10 of every month is now sacrosanct.
  2. Automate data capture (claims, CoC decisions, litigation, expenses) so that CP-5 can be pre-populated.
  3. Create a “filing bundle” checklist for each form (scanned NCLT order, CoC minutes, IM acknowledgement, etc.).
  4. Institute a peer-review of every submission—errors count as non-compliance.
  5. Budget the fee in the CIRP cost matrix—late fee is payable from the process estate, not personal funds, but disciplinary exposure is personal.

3. Why This Matters

  • Regulator’s line of sight – IBBI gets near-real-time data on every critical stage of a CIRP—enabling faster red-flagging of delays and misconduct.
  • Professional discipline – Failure to file (or filing rubbish) can now jeopardise an IP’s ability to take future assignments.
  • Creditor confidence – Standardised monthly CP-5 reports give lenders and home-buyers a uniform dashboard of progress and costs.

Bottom line – From 1 June 2025, every IRP/RP must treat the CP-series forms as non-negotiable statutory deliverables. Missing the 10-day window means ₹ 500 a month per form—and possibly your next AFA. Embed the new timetable into your CIRP playbook now.

Click Here To Read The Full Notification

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied