Vesting of the management with resolution professional
Regulation 51ofInsolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
For the purposes of sub-section (1) of section 54J, the resolution professional shall make an application 29[in such format as notified by the Board]. ******* 30[***] 29 Substituted by Notification No. IBBI/2026-27/GN/REG147, dated 01st June, 2026 (w.e.f. 02-06-2026). Before substitution, the words stood as, “in Form P14”. 30 Omitted by Notification No. IBBI/2026-27/GN/REG147, dated 01st June, 2026 (w.e.f. 02-06-2026). Before omission, the words stood as under: “SCHEDULE FORM P1 WRITTEN CONSENT (Under regulation 7(1) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) [Date] To The Adjudicating Authority [ ___________ Bench] From [Name of the insolvency professional] [Registration number of the insolvency professional] [Address of the insolvency professional registered with the Board] Subject: Written consent in the matter of [name of corporate debtor] 1. I, [name], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board. I have been proposed for appointment- (i) as the interim resolution professional under section 54O of the Insolvency and Bankruptcy Code, 2016 for corporate insolvency resolution process of [name of the corporate debtor]. OR (ii) resolution professional under sections 54A or 27 of the Insolvency and Bankruptcy Code, 2016 for the pre-packaged insolvency resolution process of [name of the corporate debtor]. {strike off the part which is not relevant} 2. I hereby give consent to the proposed appointment. 3. I have the following processes in hand:- Sl. No. Role as Number of processes on the date of consent I II III 1 Interim Resolution
Professional 2 Resolution Professional in- a. Insolvency resolution processes for corporate persons b. Pre-packaged insolvency resolution processes c. Insolvency resolution processes for individuals 3 Liquidator of- a. Liquidation Processes b. Voluntary Liquidation Processes 4 Bankruptcy Trustee 5 Authorised Representative 6 Any other (Please state) 4. I declare and affirm as under:- a. I am not subject to any disciplinary proceeding initiated by the Board or the Insolvency Professional Agency. b. I do not suffer from any disability to act as a resolution professional. c. I am eligible to be appointed as interim resolution professional / resolution professional of the corporate debtor under regulation 7 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 and other applicable provisions of the Code and the Regulations. d. I shall make the disclosures in accordance with the code of conduct for insolvency professionals set out in the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. Date: | (Signature of the insolvency professional) Place: | Registration No.________ Authorisation for assignment (AFA)No. ______ Date of expiry of AFA________ (Name in block letters) (Name of insolvency professional entity, if applicable) FORM P2 LIST OF CREDITORS OF [NAME OF CORPORATE DEBTOR] (Under regulation 14 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) AS ON [DATE] (Amount in ₹) List of financial creditors (unrelated) I II III IV Sl. No. Name of creditor Amount of claim % of claim 1 2 3 List of financial creditors (related) Sl. No. Name of creditor Amount of claim % of claim 1 2 3 List of operational creditors (unrelated) Sl. No. Name of creditor Amount of claim % of claim 1
2 3 List of operational creditors (related) Sl. No. Name of creditor Amount of claim % of claim 1 2 3 List of other creditors (unrelated) Sl. No. Name of creditor Amount of claim % of claim 1 2 3 List of other creditors (related) Sl. No. Name of creditor Amount of claim % of claim 1 2 3 [For Corporate Applicant] (Signature) Name of person submitting information Relationship with corporate debtor FORM P3 APPROVAL OF TERMS OF APPOINTMENT OF RESOLUTION PROFESSIONAL (Under regulation 14(5) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) 1. The meeting of financial creditors, who are not related parties of the corporate debtor, was held on [date of meeting] at [time of meeting] at [venue of meeting] for proposing and approving the name of resolution professional for pre-packaged insolvency resolution process of [name of corporate debtor]. 2. The list of creditors in Form P2 was provided with the notice of said meeting. 3. The details of creditor(s) present in the said meeting are enclosed as Annexure-A. 4. [Name of creditor(s)], having % of debt*, proposed the name of [name of proposed resolution professional], having registration number [registration number] for appointment as resolution professional for the pre-packaged insolvency resolution process of [name of corporate debtor]. 5. The following creditor(s) have approved the appointment of [name of proposed resolution professional], having registration number [registration number] for appointment as resolution professional for the pre-packaged insolvency resolution process of [name of corporate debtor]. Sl. No. Name of creditor(s) Amount of debt* Percentage of debt* Vote Assent Dissent Abstain I II III IV V VI VII 1 2 3 Total 6. The above-mentioned creditor(s), also approved the following terms of appointment of the [name of proposed resolution professional]:- Sl. No. Particulars Fee (Amount in ₹) Remarks I II III IV
1 Fee payable to the resolution professional for performing duties under sub-section (1) of section 54B 2 Fee payable to the resolution professional and expenses to be incurred by him for conducting the process under section 54F 3 Fee payable to the resolution professional and expenses to be incurred by him in case management of the corporate debtor is vested with him under section 54J 7. That [name of creditor], is duly authorised to sign this Form on behalf of all the / assenting creditor(s) mentioned in Table in para 5. [Name of creditor] (Signature) [NAME IN BLOCK LETTERS] [Designation] *Debt means aggregate financial debt owed to the financial creditors who are not related parties of the corporate debtor. (Please modify the form suitably where the creditors are operational creditor(s)) FORM P4 APPROVAL FOR INITIATING PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS OF [NAME OF CORPORATE DEBTOR] (Under regulation 14(7) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) 1. The meeting of financial creditors, who are not related parties of the corporate debtor, was held on [date of meeting] at [time of meeting] at [venue of meeting] for approving the initiation of pre-packaged insolvency resolution process in respect of [Name of corporate debtor]. 2. Following document(s) was/were enclosed with the notice of said meeting:- a. list of creditors in Form P2; b. copy of declaration by members/partners in Form P6; c. copy of members’ special resolution or partners’ resolution, as the case may be; d. base resolution plan; and e. other relevant information or document, if any. 3. The details of creditor(s) present in the said meeting are enclosed herewith as Annexure-A. 4. The following creditor(s) have approved the initiation of pre-packaged insolvency resolution process in respect of [name of corporate debtor]. Sl. No. Name of creditor(s) Amount of debt* Percent of debt* Vote Assent Dissent Abstain I II III IV V VI VII 1 2 3 Total 5. That [name of creditor], is duly authorised to sign this Form on behalf of all the / assenting creditor(s) mentioned in Table above.
[Name of creditor] Signature [NAME IN BLOCK LETTERS] [Designation] *Debt means aggregate financial debt owed to the financial creditors who are not related parties of the corporate debtor. (Please modify the form suitably where the creditors are operational creditor(s)) FORM P5 WRITTEN CONSENT TO ACT AS AUTHORISED REPRESENTATIVE (Under regulation 15(iii) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) From [Name of the insolvency professional] [Registration number of the insolvency professional] [Registered address of the insolvency professional] To [Name of resolution professional], the resolution professional of pre-packaged insolvency resolution process of [name of corporate debtor] Subject: Written Consent to act as an authorised representative. 1. I, [name], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board, note that you have proposed to appoint me as the authorised representative of financial creditors in a class [specify class] in the pre-packaged insolvency resolution process of [name of the corporate debtor]. 2. I hereby give my consent for the proposed appointment. 3. I am having the following processes in hand:- Sl. No. Role as Number of processes on the date of consent I II III 1 Interim Resolution Professional 2 Resolution Professional in- a. Insolvency resolution processes for corporate persons b. Pre-packaged insolvency resolution processes c. Insolvency resolution processes for individuals 3 Liquidator of- a. Liquidation Processes b. Voluntary Liquidation Processes 4 Bankruptcy Trustee 5 Authorised Representative 6 Any other (Please state)
| 4. I declare and affirm as under:- a. I am not subject to any disciplinary proceeding initiated by the Board or the Insolvency Professional Agency. b. I do not suffer from any disability to act as an authorised representative. c. I shall not canvass with the creditors to indicate their choice in my favour. Date: | (Signature of the insolvency professional) Place: | Registration No.________ Authorisation for assignment (AFA) No. ________ Date of expiry of AFA________ (Name in block letters) (Name of insolvency professional entity, if applicable) FORM P6 DECLARATION BY DIRECTOR/PARTNERS (Under regulation 16(1) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) [Date] To The Adjudicating Authority [ ________ Bench] Subject: Declaration for initiating pre-packaged insolvency resolution process in respect of [name of corporate debtor]. We,- Sl. No. Name and Designation Director Identification | Address Number I II III IV 1 2 3 representing majority among the directors/partners of the [name of the corporate debtor] “Corporate Debtor”) having [Identification Number] and having registered office at [Address], declare and affirm as under:- i. The corporate debtor shall file an application for initiating pre-packaged insolvency resolution process within [insert number of days]. ii. The pre-packaged insolvency resolution process is not being initiated to defraud any person.; iii. The creditors have approved the name of [name of insolvency professional], having registration number [registration number], in the meeting of creditors convened under clause (e) of sub-section (2) of section 54A read with regulation 8 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021, held on [date of meeting]. iv. The details of the corporate debtor Sl. No. Title Details I II III 1 Name of the corporate debtor 2 Registered address of the corporate debtor 3 Date of incorporation of the corporate debtor 4 Estimated date for filing the application with adjudicating authority for initiating pre-packaged insolvency resolution process | |||
| v. The contents of this declaration are true and correct and that we have concealed nothing and that no part of it is false. Date: | (Signature of the Director/Partner) Place: | (Name in block letters) DIN-_________ Address:_________ Date: | (Signature of the Director/Partner) Place: | (Name in block letters) DIN-_________ Address:_________ (To be signed by all the directors/partners mentioned in Point-1) FORM P7 DECLARATION REGARDING EXISTENCE OF AVOIDANCE TRANSACTION(S) (Under regulation 16(2) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) [Date] To The Adjudicating Authority [___________ Bench] Subject: Declaration regarding existence of avoidance transaction in respect of [name of corporate debtor]. I, [name], a managing director/chairperson/designated partner/partner [director, if there is no managing director and chairperson] of the [name of the corporate debtor] (“Corporate Debtor”) having [Identification Number] having registered office at [Address], declare and affirm as under:- {strike off the part which is not relevant} i. the corporate debtor has not been subject to any transaction within the meaning and scope of Chapter III or Chapter VI of the Insolvency and Bankruptcy Code, 2016 (Code). OR ii. the corporate debtor has been subject to following transaction(s) within the meaning and scope of | ||
| Sl. No Transaction with Section (43/45/ (Under regulation 17 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) I [name of insolvency professional], proposed for appointment as resolution professional of [name of corporate debtor] in respect of pre-packaged insolvency resolution process of [name of corporate debtor] hereby declare and affirm as under:- 1. I have sought and obtained all the information and explanations which to the best of my knowledge and belief are necessary for the purposes of preparation of report under section 54B of the Insolvency and Bankruptcy Code, 2016 (Code) and Regulations thereunder. 2. I have examined the relevant documents and information required to ascertain the status of the corporate debtor and I hereby confirm that [name of corporate debtor] is a micro/ small/medium enterprise under sub-section (1) of section 7 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006); 3. I hereby confirm that- a. the corporate debtor has not undergone pre-packaged insolvency resolution process or completed corporate insolvency resolution process, during the period of three years preceding the date of making of the application; b. the corporate debtor is not undergoing a corporate insolvency resolution process; c. no liquidation order has been made in respect of the corporate debtor; d. majority of directors / partners of the corporate debtor have made a declaration in Form P6 pursuant to clause (e) of sub-section (2) of section 54A; [Attachment] e. the members of the corporate debtor have passed a special resolution or three-fourth of the total number of partners of the corporate debtor have passed a resolution approving the filing of the application for initiating pre-packaged insolvency resolution process; f. the creditors of the corporate debtor representing [percent] of debt* have approved the proposal for appointment of resolution professional, as required under clause (e) of sub-section (2) of section 54A in Form P3; g. the creditors of the corporate debtor representing [percent] of debt* have approved the proposal for initiation of pre-packaged insolvency resolution process in respect of [name of corporate debtor], as required under sub-section (3) of section 54A in Form P4; h. the amount of default incurred by the corporate debtor is within the limit notified under sub-section (2) of section 4 of the Code; and i. I have examined the base resolution plan provided to creditor(s) under clause (c) of sub-section (4) of section 54A, and hereby confirm that it complies with sub-sections (1) and (2) of section 30, section 54K of Code and the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 and all other applicable provisions. Place: | Amount involved (in (Signature) Date: | Remarks, if any Name of insolvency professional Registration number *Debt means aggregate financial debt owed to the financial creditors who are not related parties of the corporate debtor. FORM P9 PUBLIC ANNOUNCEMENT (Under regulation 19(2) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) FOR THE ATTENTION OF THE CREDITORS OF [NAME OF CORPORATE DEBTOR] Notice is hereby given that the Adjudicating Authority, ____Bench has ordered for the commencement of pre- packaged insolvency resolution process for [name of the corporate debtor] on [pre-packaged insolvency commencement date]. | ||||
| RELEVANT PARTICULARS I II III 1 Name of corporate debtor 2 Former name(s), if changed in last two years 3 Date of incorporation of corporate debtor 4 Authority under which corporate debtor is incorporated / registered 5 Identification number 6 Address of the registered office and principal office (if any) of corporate debtor 7 Pre-packaged insolvency commencement date 8 Name and registration number of the resolution professional 9 Address and e-mail of the resolution professional, as registered with the Board 10 Address and e-mail to be used for correspondence with the resolution professional 11 List of claims shall be made available from [insert date] at: (Signature) Name and of resolution professional: Date: Place: FORM P10 LIST OF CLAIMS (Under regulation 20 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) As on________________ (Amount in ₹) Sl. No. Category of creditor Summary of claims Amount of Details in Remarks, contingent Annexure | if any claims No. of Amount claims I II III IV V VI VII 1 Secured financial creditors belonging | 1 to any classof creditors 2 Unsecured financial creditors | 2 belonging to anyclass of creditors 3 Secured financial creditors (other | 3 than financial creditors belonging to any class of creditors) 4 Unsecured financial creditors (other | 4 than financialcreditors belonging to any class of creditors) 5 Operational creditors (Workmen) 5 6 Operational creditors (Employees) 6 7 Operational creditors (Government dues) 7 8 Operational creditors (other than | 8 Workmen, Employees and Government dues) |
| Sl. Name of Identific | Details of claims Amountof Amount | Re | ||||
| No. creditor ationNo. | continge | of any | mar | |||
| nt claim Amount | mutual Nature Amount Amoun Whether % of dues, that | ks, if | ||||
| of claimby | ofclaim coveredcovere | tparty. | related votingshare |
set-off
| security | d by | in | ||
| interest guaran | commi tee | ttee I II III IV V VI VII VIII IX X XI XII 1 2 3 Annexure-2 Name of the corporate debtor: …………… Date of commencement of PPIRP:……… List of creditors as on: ……………………… List of unsecured financial creditors belonging to any class of creditors (Amount in ₹) Sl. Name Identification | Details of claims Amount Amount Remarks, | |
| No. of | No. | of | of any | if any |
| creditor | contingent mutual AmountNature Amount Whether | % of claim | dues, | |
| of claim of | covered related | voting |
that
| claim | by | party. share in | ||
| No. of | cation | of | of any | if any |
| credit | No. | conting mutual |
Amount Nature of Amount Amount Whether % of
| or | ent | dues, | ||
| by | guarantee | party. | share | |
| be set-off security | in interest commit tee I II III IV V VI VII VIII IX X XI XII 1 2 3 Annexure – 4 Name of the corporate debtor: …………… Date of commencement of PPIRP:………. List of creditors as on: ……………………… List of unsecured financial creditors (other than financial creditors belonging to any class of creditors) (Amount in ₹) Sl. Name Identificatio | Details of claims Amount Amoun Remarks | ||
| No | of | nNo. | of | t of any, ifany |
| . creditor | contingen mutual Amoun Natur Amount Whethetclaim | % ofdues, | ||
| t of | e of | covered rrelated | voting |
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| claim claimmay guarante No. workman ionNo. | bycommitte beset- econtingent | party. e off I II III IV V VI VII VIII IX X XI 1 2 3 Annexure – 5 Name of the corporate debtor: …………… Date of commencement of PPIRP:……… List of creditors as on: ……………………… List of operational creditors (Workmen) (Amount in₹) Sl. Nameof Identificatof any | share in Details of claims Amount of Amount Remarks, ifany |
| claim | mutual Amount of Nature Whether | % voting dues, that | |
| claim | of | related | sharein |
may be
claim | party. | committee,
set-off if applicable I II III IV V VI VII VIII IX X
1 2 3 Annexure – 6 Name of the corporate debtor: …………… Date of commencement of PPIRP:………. List of creditors as on: ……………………… List of operational creditors (Employees) (Amount in₹)
| Sl. Name of Identificat | Details of claims Amount of Amount of | Remarks, | |
| No. employee | ionNo. | contingent any mutual | ifany |
| claim | dues, that Amount Nature Whether | % of may be set- | |
| ofclaim | of | related | voting |
off
claim | party. | share in
committee, if applicable I II III IV V VI VII VIII IX X 1 2 3 Annexure – 7 Name of the corporate debtor: …………… Date of commencement of PPIRP:………. List of creditors as on: ……………………… List of operational creditors (Government dues) (Amount in₹)
| Sl. Noorganisationment nmen cation of claim oft No. creditor cation | Details of Governmentofcovered covered by share in Claim byof | Details of claims Amo Amount of Remarks, ifunt any mutualanydues, thatoffguarantee committee, of any arks, | |
| No. | continge | mutual | if |
Amoun Nature Amount Amount Whether % of
| ntclaimtof | dues, of claim covered covered | anyrelated voting |
that may
| claim | by | by | party. | share |
| be set-off security guarante | in interest e | commit tee I II III IV V VI VII VIII IX X XI XII 1 2 3 Annexure – 9 Name of the corporate debtor: …………… Date of commencement of PPIRP:………. List of creditors as on: ……………………… List of other creditors (Other than financial creditors and operational creditors) (Amount in₹) Sl. Name Identifica | Details of claim Amount Amount Remarks | |
| No. | of | tion No. | of | of any |, if any |
| creditor | contingen mutual Amount of Nature Amount Amount | Whether t claim dues, that claim | of claim covered covered by related may be | |
| by | guarantee | party. |
set- off security interest I II III IV V VI VII VIII IX X XI 1 2 3 FORM P11 INVITATION FOR RESOLUTION PLANS (Under regulation 43 of the Insolvency and Bankruptcy (Pre-packaged Insolvency Resolution Process) Regulations, 2021) RELEVANT PARTICULARS I II III 1 Name of the corporate debtor 2 Former name(s), if changed in last two years 3 Date of incorporation of corporate debtor 4 Authority under which corporate debtor is incorporated / registered 5 Identification number
6 Address of the registered office and principal office (if any) of corporate debtor 7 Pre-packaged insolvency commencement date 8 Date of invitation for resolution plans 9 Eligibility for resolution applicants 10 Norms of ineligibility applicable under section 29A 11 Basis for evaluation (including details related to significant improvement and tick size) 12 Manner of obtaining ‘invitation of resolution plan’, basis for evaluation (including details related to significant improvement and tick size), information memorandum and further information 13 Last date for submission of resolution plans 14 Manner of submitting resolution plans to resolution professional 15 Estimated date for submission of resolution plan to the Adjudicating Authority for approval 16 Name and registration number of the resolution professional 17 Name, address and e-email of the resolution professional, as registered with the Board 18 Address and email to be used for correspondence with the resolution professional 19 Further details are available at or with 20 Date of publication of Form (Signature) Name of the resolution professional Registration number Registered address Date: Place: FORM P12 COMPLIANCE CERTIFICATE (Under regulation 49 (1) of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021] I, [Name of the resolution professional], am the resolution professional for the pre-packaged insolvency resolution process (PPIRP) of [name of the corporate debtor]. 2. The details of the pre-packaged insolvency resolution process Sl. No. Particulars Description I II III 1 Name of the corporate debtor 2 Date of commencement of PPIRP 3 Date of appointment of resolution professional 4 Date of publication of public announcement 5 Date of constitution of committee 6 Date of first meeting of committee 7 Date of appointment of registered valuers 8 Date of submission of base resolution plan 9 Date of invitation of resolution plans from third party resolution applicant, if applicable
10 Date of inviting corporate debtor to improve its resolution plan, if applicable 11 Date of issue of invitation for resolution plan (if applicable) 12 Last date of submission of resolution plan 13 Date of approval of resolution plan by committee 14 Date of filing of resolution plan with Adjudicating Authority 15 Date of expiry of one hundred and twenty days of PPIRP 16 Fair value 17 Liquidation value 18 Number of meetings of committee held 3. I have examined the resolution plan received from corporate debtor/third party resolution applicant (………………………………..) and approved by the committee of [Name of the corporate debtor]. 4. I hereby certify that- a. the said resolution plan complies with all the provisions of the Insolvency and Bankruptcy Code 2016 (Code), the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 and does not contravene any of the provisions of the law for the time being in force. b. the corporate debtor/third party resolution applicant (………………………………..) has submitted an affidavit pursuant to section 30(1) of the Code confirming its eligibility under section 29A of the Code to submit resolution plan. The contents of the said affidavit are in order. c. the said resolution plan has been approved by the committee in accordance with the provisions of the Code and the Regulations made thereunder. The resolution plan has been approved by [state the number of votes by which resolution plan was approved by committee] % of voting share of financial creditors after considering its feasibility and viability and other requirements specified by the PPIRP Regulations. d. the voting was held in the meeting of the committee on [state the date of meeting] where all the members of the committee were present. or I sought vote of members of the committee by electronic voting system which was kept open at least for 24/48 hours. {strike off the part which is not relevant} 5. The list of financial creditors of the [name of CD] being members of the committee and distribution of voting share among them Sl. No. Name of creditor Voting share (%) Voting for resolution plan (voted for / dissented / abstained) I II III IV 1 2 3 6. The resolution plan includes a statement under regulation 45 of the regulations as to how it has dealt with the interests of all stakeholders in compliance with the Code and Regulations made thereunder. 7. The amounts provided for the stakeholders under the resolution plan (Amount in Rs. lakh)
| Sl. | Category of Sub-category of stakeholder Amount | Amount | Amount | Amount | ||
| No. * | stakeholderunder the to the plan# | of claimamount claimed (%) I II III IV V VI VII 1 Secured | admitted (a) Creditors not having a right Financial | providedto vote under sub-section (2) of Creditors | providedsection 21 | |
| (b) Other than (a) above - (i) who did not vote in favour of the resolution plan (ii) who voted in favour of the resolution plan Total[(a) + (b)] 2 Unsecured | (a) Creditors not having a right Financial | to vote under sub-section (2) of Creditors | section 21 (b) Other than (a) above - (i) who did not vote in favour of the resolution plan (ii) who voted in favour of the resolution plan Total[(a) + (b)] 3 Operational | (a) Related Party of Corporate Creditors | Debtor (b) Other than (a) above - (i)Government (ii)Workmen (iii)Employees (iv) ……… Total[(a) + (b)] 4 Other debts and dues Grand Total *If there are sub-categories in a category, please add rows for each sub-category. # Amount provided over time under the resolution plan and includes estimated value of non-cash components. It is not Net Present Value. 8. The interests of existing shareholders have been altered by the resolution plan Sl. No. Category of No. of shares No. of shares Voting share Voting share (%) shareholder | held before held after the (%) held held after PPIRP |
| PPIRP | PPIRP | before PPIRP |
I II III IV V VI 1 Equity 2 Preference 3 9. The compliance of the resolution plan Section of the Requirement with respect to resolution plan Clause of Compliance
| Code / vote in favour of the resolution plan; (d) provides for the management of the affairs of the corporate debtor; (e) provides for the implementation and supervision of the resolution plan; (f) contravenes any of the provisions of the law for the time being in force. section 54K (4) Whether the resolution plan- or (12) and (a) is feasible and viable, according to the committee; regulation 45 | resolution (b) has been approved by the committee with 66% voting share. section 31(1) Whether the resolution plan has provisions for its effective implementation plan, according to the committee. regulation 41 Whether the resolution professional has made a determination under regulation 41, before the forty fifth day of the insolvency commencement date, under intimation to the Board. regulation 45(5) Whether the amount due to the operational creditors under the resolution plan has been given priority in payment over financial creditors. regulation 45(4) Whether the resolution plan includes a statement as to how it has dealt with the interests of all stakeholders. regulation 45(1) (i) Whether the Resolution Applicant or any of its related parties has failed to implement or contributed to the failure of implementation of any resolution plan approved under the Code. (ii) If so, whether the Resolution Applicant has submitted the statement giving details of such non-implementation. regulation 45(2)(a) Whether the resolution plan provides for - (a) the term of the plan and its implementation schedule; (b) the management and control of the business of the corporate debtor during its term; (c) adequate means for supervising its implementation. regulation 45(3) Whether the resolution plan demonstrates that – (a) it addresses the cause of default; (b) it is feasible and viable; (c) it has provisions for its effective implementation; (d) it has provisions for approvals required and the timeline for the same; (e) the resolution applicant has the capability to implement the resolution plan. regulation 41(3)(b) Whether the RP has filed applications in respect of transactions observed, found or determined by him. regulation 43(5)(c) Provide details of performance security received, as referred to in sub-regulation (5) of regulation 43. section 54K(d) Where the base resolution plan has been approved by committee,- (e) (i) whether such resolution plan provides for impairment of any claims owed by the corporate debtor; (f) (ii) if the base resolution plan provides for impairment of any claims owed by the corporate debtor, whether the such resolution plan provides for dilution of promoter shareholding or voting or control rights in the corporate debtor. If no, has the committee recorded the reasons for the same prior to approval of such base plan. 10. The time frame proposed for obtaining relevant approvals Sl. No. Nature of approval Name of Name of authority When to be obtained applicable law | (Yes / No) who will grant approval |
I II III IV V 1 2 3 11. The resolution plan is not subject to any contingency; or the resolution plan is subject to the following contingencies (Elaborate the contingencies):- i………………………………………………………………… ii………………………………………………………………... 12. Following are the deviations / non-compliances of the provisions of the Insolvency and Bankruptcy Code, 2016, Regulations made, or Circulars issued thereunder (If any deviation/ non-compliances were observed, please state the details and reasons for the same):-
| Sl. | Deviation/Non- | Section of the Code / Reasons Whether rectified or | |
| No. No. | compliance observed Adjudicating | regulation No. / circular Adjudicating | notorder |
Process) Regulations, 2021] [Date] To The Adjudicating Authority [ __________ Bench] From [Name of the insolvency professional] [Registration number of the insolvency professional] [Registered address of the insolvency professional] In the matter of [name of the corporate debtor] Subject: Termination of pre-packaged insolvency resolution process of [name of corporate debtor] Madam/Sir, The [name of the corporate debtor], had filed an application bearing [particulars of application, having, [diary number/ case number] on [date of filing] before the Adjudicating Authority under [under section 54C,] of the Insolvency and Bankruptcy Code, 2016. The said application was admitted by the Adjudicating Authority on [date] bearing [case number]. 2. The committee of creditors has, in its meeting held on _______________, decided to terminate the aforementioned pre-packaged insolvency resolution process filed by the [name of the corporate debtor] under sub-section (2) of section 54N. OR No resolution plan was submitted within the period permitted for approval of resolution plan under sub-section (3) of section 54D. OR The resolution plan selected under sub-section (11) of section 54K has not been approved by the committee of creditors under sub-section (12) of section 54K {strike off the part which is not relevant} 3. I hereby attach the report of termination of the pre-packaged insolvency resolution process. (Signature) Name of the resolution professional: IP Registration No: Address as registered with the Board: Email Id as registered with the Board: Date: Place: FORM P14 APPLICATION FOR VESTING MANAGEMENT WITH RESOLUTION PROFESSIONAL (Under regulation 51 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021) [Date] To The Adjudicating Authority ( ________ Bench) From [Name of the insolvency professional] [Registration number of the insolvency professional] [Registered address of the insolvency professional] In the matter of [name of the corporate debtor] Subject: Vesting of management of [name of corporate debtor] with resolution professional.
Madam/Sir, [Name of the corporate debtor], had filed an application bearing [particulars of application, having, diary number/ case number] on [date of filing] before the Adjudicating Authority under [under section 54C,] of the Insolvency and Bankruptcy Code, 2016 (Code). The said application was admitted by the Adjudicating Authority on [date] bearing [case number]. 2. The committee of creditors has, in its meeting held on _______________, decided to vest the management of the [Name of the Corporate Debtor] with the resolution professional under section 54J of the Code for the following reason(s):- a. b. 3. I hereby attach the minutes of the meeting of committee of creditors held on _________________. (Signature) Name of the Resolution Professional: IP Registration No: Address as registered with the Board: Email Id as registered with the Board: Date: Place: