IBBI Mandates Timely Form Filing by RPs With Rs. 500 Monthly Delay Fee

Notification No. IBBI/2025-26/GN/REG131, Dated 20-11-2025

1. Overview

The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2025.

The amendment introduces a new Regulation 23, which sets out mandatory requirements relating to the filing of forms by Resolution Professionals (RPs).

2. Introduction of Regulation 23 – Filing of Forms

2.1 Mandatory Filing of e-Forms

A new Regulation 23 has been inserted, mandating that all RPs must:

• File IBBI-notified e-Forms,
• Ensure the filing contains complete, correct, and accurate information, and
• Submit such forms within prescribed timelines on the Board’s electronic portal.

This provision aims to enhance data accuracy, strengthen monitoring, and ensure timely information flow to the regulator.

2.2 Fee for Delayed Filing

The amendment prescribes a late filing fee for any:

• Delayed submissions,
• Corrections, or
• Updates made after the due date.

The fee shall be: ₹500 per Form per calendar month of delay

(Or part thereof)

This ensures greater compliance discipline and discourages laxity in reporting.

3. Consequences of Non-Compliance

The amendment sets out stringent consequences for:

• Non-filing,
• Incomplete or inaccurate filing, or
• Delayed filing of e-Forms.

Such failures may lead to regulatory action, including:

• Refusal to issue an Authorisation for Assignment (AFA), or
• Refusal to renew an existing AFA.

Since possessing a valid AFA is essential for undertaking assignments under the IBC, non-compliance may directly affect an RP’s ability to function.

4. Significance

These amendments are intended to:

• Improve the quality and timeliness of data reporting,
• Strengthen regulatory oversight of personal guarantor resolution processes,
• Ensure greater accountability among RPs, and
• Enhance the overall efficiency and transparency of the insolvency framework.

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