IBBI Updates LIQ Forms, Old Formats Discontinued

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.

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