Serving of copy of applications to the Board, as mandated under Rules 4, 6 and 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 - IBC - IBBI/LAD/58/2023

Insolvency and Bankruptcy Board of India 7 th Floor, Mayur Bhawan, Connaught Place, New Delhi 110 001 Circular No. IBBI/LAD/58/2023 04th March, 2023 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Subject: Serving of copy of applications to the Board, as mandated under Rules 4, 6 and 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 , as amended vide notification No. G.S.R. 583(E) dated 24th September, 2020 published in the Gazette of India, Part II, Section 3, Sub-section (i), No. 474 dated 24th September, 2020 obligates an applicant to provide a copy of the application for initiating corporate insolvency resolution process (CIRP) against a corporate debtor, inter alia, to the Board, before filing the same with the Adjudicating Authority. 2. Accordingly, for convenience of applicants, the Board has made available a facility on its website at https://ibbi.gov.in/en/intimation-applications/apply-iaa for serving a copy of the application online to the Board vide Circular No. IBBI/IU/35/2020 dated 29th October 2020 . 3. Recently, IBBI has, vide Circular No. IBBI/IU/51/2022 dated 15th June 2022 decided to forward all the applications received for initiating insolvency to the Information Utility (IU) and, the IU is required to (a) inform other creditors of the CD by sharing the application; (b) issue notice to the applicant, requiring it to file information of default as per IU Regulations; and (c) process the information of default for the purpose of issuing ROD as per the IU. 4. Accordingly, to ensure filing of authentic information with the Board and further enable Board to share information relating to the application for initiation of CIRP with the IU efficiently, the format has been revised. The revised format is at Annexure A. A step-by-step guide for submission of the application is at Annexure B. On submission of the application online, the applicant shall get an acknowledgment. The applicants are encouraged to avail of this facility. 5. The provisions of this circular shall supersede IBBI s Circular No. IBBI/IU/35/2020 dated 29th October 2020 . This is issued in exercise of the powers under clause (k) of sub-section (1) of section 196 of the Insolvency and Bankruptcy Code, 2016. Yours faithfully, Sd/- (C. Ramachandra Rao) General Manager Annexure A Format for Serving a Copy of Application for Initiation of CIRP Details of Application Application by: Financial Creditor(s) Operational Creditor(s) Corporate Applicant Application Under: Section 7 Section 9 Section 10 Application to be filed at NCLT: Chennai, Mumbai, Delhi, Kolkata, etc. Application to be filed on: Amount of Default in INR (Aggregate amount of default to all applicants) (with validation of minimum Rs. 1,00,00,000/-): Details of Applicant/s Applicant type Name PAN (mandatory with validation) CIN/LLPIN Contact/Mobile No. E-mail (mandatory with validation) Address for Correspondence Number of Applicants, other than the First Applicant (If submitted by more than one applicant) [Option to add multiple applicants] Applicant type Name PAN (mandatory with validation) CIN/LLPIN (with validation) Contact/Mobile No. E-mail (mandatory with validation) Address for Correspondence Details of Person, if any, authorised to file this Application Name PAN (with validation) CIN/LLPIN (with validation) Contact/Mobile No. E-mail (with validation) Address for Correspondence Details of Corporate Debtor against which CIRP is to be initiated Name PAN (mandatory with validation) CIN/LLPIN (mandatory with validation) Contact/Mobile No. E-mail (mandatory with validation) Registered Address Details of IP, if any, Proposed as IRP Name PAN (with validation) Contact/Mobile No. E-mail (with validation) Address for Correspondence IBBI Registration No. Date of Consent to act as IRP Annexure B Step-by-step guide to fill the format 1. Scan the copy of the application with all Annexures in a .pdf format. If required, please compress the pdf size up to 20 MB. 2. Click on link - https://ibbi.gov.in/en/intimation-applications/iaaa 3. Fill the information, as prompted. 4. Once the information is filled, kindly double-check all the details filled in the Form. 5. Attach the copy of the application in pdf in the option provided below. 6. Thereafter, click the submit button and an ACKNOWLEDGMENT ID will be generated. This ACKNOWLEDGMENT ID is to be quoted while filing the Application with the Adjudicating Authority. 7. This ACKNOWLEDGMENT ID shall also be used for all references with the Board.