IBBI Withdraws Form IP-1 | Introduces Assignment Module

Circular No. IBBI/CIRP/86/2025, Dated: 14.07.2025

The Insolvency and Bankruptcy Board of India (IBBI) has issued a circular announcing the withdrawal of the requirement to submit Form IP-1 for all processes governed under the Insolvency and Bankruptcy Code, 2016 (IBC). This change is effective from 14th July 2025.

1. Background – Purpose of Form IP-1

Form IP-1 was previously mandated for monitoring the assignments undertaken by Insolvency Professionals (IPs). It served as a reporting tool to capture details of appointments in various insolvency and bankruptcy proceedings, helping the IBBI maintain oversight over active cases.

2. New Reporting Requirement via Assignment Module

With the withdrawal of Form IP-1, Insolvency Professionals are now required to report their appointments through the Assignment Module available on the IBBI electronic portal. This applies to appointments made in connection with:

• Corporate Insolvency Resolution Process (CIRP)
• Liquidation Process
• Voluntary Liquidation
• Insolvency Resolution and Bankruptcy of Personal Guarantors to Corporate Debtors
• Proceedings involving Financial Service Providers

3. Effective Date and Compliance

This revised reporting mechanism is mandatory from 14th July 2025 onwards. IPs are expected to comply with the updated procedure and ensure timely and accurate reporting through the designated Assignment Module.

4. Objective of the Change

The shift from Form IP-1 to the digital Assignment Module is part of IBBI’s efforts to:

• Streamline compliance processes
• Enhance digital governance
• Ensure real-time data availability for better regulatory oversight

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