IBBI Withdraws Form IP-1 | Introduces Assignment Module

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  • Last Updated on 17 July, 2025

IBBI Form IP-1 Withdrawal

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
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