IBBI Updates LIQ Forms, Old Formats Discontinued

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  • Last Updated on 8 January, 2026

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Revised LIQ Forms for Liquidation Process

Circular No. No. IBBI/LIQ/91/2026, Dated 05.01.2026

1. Introduction

The Insolvency and Bankruptcy Board of India (IBBI) has launched revised LIQ forms for the liquidation process through Circular No. IBBI/LIQ/91/2026 dated 05-01-2026, with the objective of streamlining filings and reducing compliance burden on insolvency professionals.

2. Regulatory Background

The revision follows amendments to the IBBI (Liquidation Process) Regulations, 2016, which mandate insolvency professionals to submit liquidation-related forms, along with enclosures, on the Board’s notified electronic platform. These changes aim to improve transparency and efficiency in the liquidation framework.

3. Discontinuation of Existing Forms

As per the circular, the existing LIQ forms have been comprehensively revised and shall stand discontinued with effect from 1 January 2026. From this date onwards, only the revised forms will be accepted for filings relating to liquidation proceedings.

4. Relief During Transition Period

To facilitate a smooth transition, IBBI has provided relief to insolvency professionals by waiving penalties for delayed filing of revised forms during the initial quarter from January to March 2026. This grace period is intended to help professionals familiarise themselves with the new formats and address any technical issues.

5. Conclusion

The introduction of revised LIQ forms marks a significant step towards simplifying liquidation-related compliances under the IBC framework. By rationalising filings and granting temporary penalty relief, IBBI has eased the compliance process while reinforcing procedural discipline in liquidation matters.

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