IBBI Mandates Detailed Disclosure of Carry Forward Losses in Information Memorandum Under CIRP
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- By Chetan Kulasri
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- Last Updated on 19 March, 2025
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Circular No. IBBI/CIRP/83/2025, Dated: 17.03.2025
The Insolvency and Bankruptcy Board of India (IBBI) has directed Insolvency Professionals to include a dedicated section in the Information Memorandum (IM) explicitly detailing the carry forward of losses under the Income Tax Act, 1961. This includes the quantum of losses, breakdown by specific heads, and applicable time limits. The circular is issued under section 196 of the IBC, 2016.
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