TMI BlogFiling of Form CIRP 8 under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) requires the resolution professional to form an opinion on transactions covered under sections 43 , 45 , 50 and 66 by 75th day, make determination on such transactions by 115th day, and file an application before the Adjudicating Authority by 135th day of the insolvency commencement date. Sub-regulation (1B) of regulation 40B of the CIRP Regulations requires the resolution professional to file Form CIRP 8 intimating details of his opinion and determination under regulation 35A , by 140th day of the insolvency commencement date. The Form CIRP 8 is required to be filed for all corporate insolvency resolution processes ongoing o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sub-regulation (1) of regulation 35A, the corporate debtor has been subjected to transactions covered under Yes / No Yes / No Yes / No Yes / No Yes / No 2 In my determination under sub-regulation (2) of regulation 35A, the corporate debtor has been subjected to transactions covered under Yes / No Yes / No Yes / No Yes / No Yes / No 3 I have applied under sub-regulation (3) of regulation 35A to the Adjudicating Authority seeking relief in respect of transactions covered under Yes / No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. I have assessed the potential loss to creditors under sub-section (2) of section 66 as under: Sl. Description Particulars 1 The corporate insolvency resolution process of the corporate debtor should have commenced on [date] 2 The corporate insolvency resolution process of the corporate debtor commenced on [date] 3 In my assessment, the potential loss to creditors from .. [date in row (1)] to [date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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