Insolvency and Bankruptcy Board of India
File No. IP-12011/1/2020-IBBI
Date: November 2, 2020
Dear Insolvency Professional,
Subject: Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2020 [Guidelines].
As you are aware that the Insolvency and Bankruptcy Board of India (the Board) had released ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2020 [Guidelines]’ on June 2nd, 2020.
2. In accordance with the Guidelines, the Board had prepared and shared a panel of IPs with Adjudicating Authority (NCLT and DRT) in June 2020 which was applicable for appointment of IPs as IRPs, Liquidators, RPs and BTs, from July 1, 2020 to November 25, 2020. The aforesaid panel is expiring on November 25, 2020 and the Board has to submit fresh panel to Adjudicating Authority (NCLT and DRT) which would be applicable for appointment of IPs as IRPs, Liquidators, RPs and BTs, from November 26, 2020 to June 30, 2021.
3. In terms of the aforesaid guidelines, the Board shall in the month of November 2020, prepare a Panel of IPs for appointment as IRPs, Liquidators, RPs and BTs from November 26, 2020 to June 30, 2021 and share the same with Adjudicating Authority (AA). The Board shall invite expression of interest (EOI) from IPs, by the specified date, in Form A (enclosed for reference, to be submitted online through the dedicated electronic platform) by sending an e-mail to IPs at their email addresses registered with the Board.
4. Accordingly, an e-mail has been sent to your email ID registered with the Board, seeking EOI for appointment as IRP, Liquidator, RP and BT from November 26, 2020 to June 30, 2021, as per aforesaid guidelines.
5. In this connection, it is advised that the EOI to act as IRP, Liquidator, RP and BT be submitted strictly through online mode only by accessing https://wvvw.ibbi.gov.in/users/login on the Board’s website. The form shall be available in the login account till November 11′ 2020.
6. The important instructions for submission of EOI through online mode are enclosed at You are advised to go through the instructions carefully before filing your EOI. A ‘Step by Step Guide’ for submission of EOI has been made available at the aforesaid link.
7. EOI if submitted, through any other mode (viz. e-mails/fax/physical mode/others etc.), EOIs without DSC, EOIs without e-sign, EOIs with invalid DSC/e-sign, EOIs received after due date, being not consistent with the aforesaid guidelines, shall stand rejected.
8. Tampering with the format / furnishing wrong information etc. shall tantamount to rejection of your EOI and may also attract suitable disciplinary action.
9. This communication may not be construed as an offer for appointment.
Thanking you,
(Santosh Shukla)
Encl.: As Above.
Form A
EXPRESSION OF INTEREST TO ACT AS
AN IRP, LIQUIDATOR, RP AND BT IN ANY PROCESS RELATING TO ANY
CORPORATE OR INDIVIDUAL DEBTOR
| 1 | Name of Insolvency Professional | |||
| 2 | Registration Number | |||
| 3 | No and Date of Issue / Renewal of AFADate of Expiry of AFA
Name of IPA which has issued AFA |
|||
| 4 | Address and contact details, as registered with the IBBI:a. E-mail
b. Mobile c. Address |
|||
| 5 | Number of Processes as on date: | Ongoing | Completed | |
| a. | As IRP of CIR Process | |||
| b. | As RP of CIR Process | |||
| c. | As IRP of Fast Track Process | |||
| d. | As RP of Fast Track Process | |||
| e. | As Liquidator of Liquidation/Voluntary Liquidation Process | |||
| f. | As RP of Individual Insolvency Resolution Process | |||
| g. | As Bankruptcy Trustee | |||
| 6 | Whether IP has been convicted at any time in the last three years by a court of competent jurisdiction? (Give details) | |||
| 7 | Whether IP is serving a suspension or debarment from serving as an IP? (Give details) | |||
| 8 | Whether any disciplinary proceeding, whether initiated by the IBBI or the IPA, is pending against the IP? (Give details) | |||
Declaration: I hereby: –
a. confirm and declare that the information given herein above is true and correct to the best of my knowledge and belief and express my interest to act as IRP, Liquidator, RP and BT, as the case may be, if appointed by the Adjudicating Authority.
b. undertake that if my name is included in the Panel, I shall abide by the Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2019
c. undertake that submission of this form is my unconditional consent to act as an IRP, Liquidator, RP and BT, at the sole discretion of the Adjudicating Authority during the validity period of the Panel under the Guidelines (1st January, 2020 – 30th June, 2020).
d. undertake that I shall not decline to act as IRP, Liquidator, RP or BT, as the case may be, on being appointed by the Adjudicating Authority.
Signature of Insolvency Professional
Place:
Date:
Annexure
Expression of Interest under ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2020’.
IMPORTANT INSTRUCTIONS
1. Name, Registration Number, Details of AFA, E-mail, Mobile and Address will be pre-filled. Other fields are required to be mandatorily filled by you.
2. Only digits must be entered in sub-fields to “on-going” and “completed” In case no assignment is being handled/completed, you are requested to enter “0” (zero).
3. Documents that may be uploaded (if required), at Para 6,7 or 8 of Form A should not exceed 10MB in size and should be in PDF format only.
4. You can modify the Form A before final submission. However, Form A once submitted using DSC/e-sign cannot be altered thereafter. Hence, you are advised to be cautious while filling up the Form. [No changes in Form A can be made once submitted using DSC/e-sign. No request in this connection shall be entertained.]
5. Form A submitted without affixing DSC/e-sign or affixing DSC/e-sign of an individual other than the applicant, shall be summarily rejected.
6. You will receive an acknowledgement e-mail on your registered e-mail ID upon successful submission of your Form A. The email is an acknowledgement that your Form A has been successfully submitted on the online module, and the Board reserves the right to discard unsigned forms.
7. It must be noted that EoI received through physical copies or e-mail will not be entertained. Only duly filled, digitally signed copy of Form A filed through online mode will be considered.
8. A Step-by-Step Guide has been made available on the webpage https://www.ibbi.gov.in/users/login. You are requested to go through the Guide very carefully before filling the Form.
9. In case of further queries, you may write to us at ra.irp.@ibbi.goy.in. Kindly do not send queries to any other e-mail ID of IBBI. Also, do not forward to us copy/screenshot of your successfully uploaded Form A.
KINDLY NOTE THAT THE LINK FOR SUBMITTING EXPRESSION OF INTEREST TO ACT AS IRP, LIQUIDATOR, RP AND BT, SHALL ONLY BE AVAILABLE TILL NOVEMBER 11, 2020.
CAclubindia
Guest
Notification No : File No. IP-12011/1/2020-IBBIPublished in LAW
Source : https://www.ibbi.gov.in/uploads/whatsnew/d8af6778f5041a079374dc0a78456e6d.pdf