IBBI Rolls Out CP Forms – Streamlining CIRP Reporting

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  • By Taxmann
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  • Last Updated on 30 May, 2025

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IBBI CP forms 2025

Circular No. IBBI/CIRP/85/2025; Dated: 26.05.2025

1. Why a New CIRP Forms Framework?

The Insolvency and Bankruptcy Board of India (IBBI) has overhauled the Corporate Insolvency Resolution Process (CIRP) filing system to cut duplication, move to monthly digital reporting, and lighten the compliance load on Insolvency Professionals (IPs). A circular issued on 19 May 2025 amends the CIRP Regulations to replace the nine-form pack (IP-1 + CIRP 1-8) with five streamlined “CP” forms.

2. Transition Rules for Ongoing & Closed CIRPs

  • Ongoing as on 1 June 2025

    1. Skip CP-1/CP-2 only if their predecessor forms were already filed.
    2. Must file CP-3A, CP-3B, CP-4 and start CP-5 cycle.

  • Cases closed on or before 31 May 2025

3. Compliance Checklist (Quick-Start)

  1. Update your calendar – block the 10th of every month for CP-5.
  2. Map each live CIRP to the CP form matrix above.
  3. Create portal log-ins and ensure DSC/e-sign is active.
  4. Archive proof of any old form already filed—this determines whether CP-1 or CP-2 can be skipped.
  5. Aim to submit all backlog data well before 30 September 2025 to avoid a post-grace penalty shock.

4. Conclusion

The new CP-form framework is a decisive push toward leaner, tech-enabled compliance. For IPs it means fewer uploads and clearer deadlines; for IBBI it means better-quality, standardised data. Use the three-month grace window wisely and you’ll glide into the monthly CP-5 rhythm with no penalties or last-minute stress.

Click Here To Read The Full Circular

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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