IBBI revises format of annual compliance certificate seeking enhanced disclosures for IPAs
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- By Chetan Kulasri
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- Last Updated on 4 November, 2022
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Circular No. IBBI/IPA/54/2022, Dated 02.11.2022
IBBI has revised the format of the annual compliance certificate for Insolvency Professional Agencies (IPAs). As per regulation 7 of the IBBI (Model Bye-Laws and Governing Board of IPAs) Regulations, 2016, IPAs are required to submit an annual compliance certificate to the Board in the prescribed format within 45 days from the end of the FY.
Now, the enhanced disclosures are to be made. Thus, all the registered IPAs shall submit an annual compliance certificate to the Board in the revised format. The revised format is given as per the annexure attached to the circular. Earlier, the format of the certificate was issued by the Board vide circular no. dated 19.04.2018.
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