TMI BlogModel time-line for corporate insolvency resolution processX X X X Extracts X X X X X X X X Extracts X X X X ..... on 16(1) Commencement of CIRP and appointment of IRP . T Regulation 6(1) Public announcement inviting claims Within 3 Days of Appointment of IRP T+3 Section 15(1)(c) / Regulations 6(2)(c) and 12 (1) Submission of claims For 14 Days from Appointment of IRP T+14 Regulation 12(2) Submission of claims Up to 90 th day of commencement T+90 Regulation 13(1) Verification of claims received under regulation 12(1) Within 7 days from the receipt of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion admitted Before issue of EoI W CoC to dispose of the application Within 7 days of its receipt or 7 days of constitution of CoC, whichever is later. W+7 Filing application of withdrawal, if approved by CoC with 90% majority voting, by RP to AA Within 3 days of approval by CoC W+10 Regulation 35A RP to form an opinion on preferential and other transactions Within 57 days of the commencement T+75 RP to make a determination on preferential and other transactions Within 115 days of commencement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T+165 Section 31(1) Approval of resolution plan by AA T+180 ] AA: Adjudicating Authority; AR: Authorised Representative; CIRP: Corporate Insolvency Resolution Process; CoC: Committee of Creditors; EoI: Expression of Interest; IM: Information Memorandum; IRP: Interim Resolution Professional; RA: Resolution Applicant; RP: Resolution Professional; RFRP: Request for Resolution Plan. ] ******** Notes 1. Inserted vide Notification No. IBBI/2018-19/GN/REG031 dated 03-07-2018 2. Substituted vide NOTIFICATION No. IBBI/2019-20/GN/REG048 dated 25-07-2019 before it was read as Regulation 13(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (c) and 12 (1) Submission of claims For 14 Days from Appointment of IRP T+14 Regulation 12(2) Submission of claims Up to 90 th day of commencement T+90 2 [ Regulation 13(1) Verification of claims received under regulation 12(1) Within 7 days from the receipt of the claim T+21 Verification of claims received under regulation 12(2) T+97 ] Section 21(6A) (b) / Regulation 16A Application for appointment of AR Within 2 days from verification of claims receiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Filing application of withdrawal, if approved by CoC with 90% majority voting, by RP to AA Within 3 days of approval by CoC W+10 Regulation 35A RP to form an opinion on preferential and other transactions Within 75 days of the commencement T+75 RP to make a determination on preferential and other transactions Within 115 days of commencement T+115 RP to file applications to AA for appropriate relief Within 135 days of commencement T+135 Regulation 36 (1) Submission of IM to CoC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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