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The Insolvency and Bankruptcy Board of India ("IBBI"), through its circular dated 06.02.2026 and published on 06.03.20261 ("Personal Guarantors Circular"), has released a set of electronic forms to capture the details of the insolvency resolution process for personal guarantors to corporate debtors under the Insolvency and Bankruptcy Code, 2016 ("IBC") and regulations made thereunder.
IBBI has released the Personal Guarantors Circular in furtherance of Regulation 23 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 ("Regulation") which stipulates that the Resolution Professional ("RP") shall file the forms, as notified by IBBI through circular, as per the timelines stipulated against each form. IBBI, in order to ease the compliance burden for RP, has developed the following set of electronic forms to facilitate systematic and transparent record-keeping and minimize the likelihood of errors:
| Form No | Period Covered | Timeline |
| PGIRP-1 | From Admission under Section 94/95 till filing of report under Section 99. | On or before the 10th day of the subsequent month, after the submission of report by RP to the Adjudicating Authority ("AA") under Section 99. |
| PGIRP2A | From report under Section 99 to order under Section 100. | On or before the 10th day of the subsequent month, after order of rejection of application under Section 100. |
| PGIRP2B | From the Admission order by AA till public announcement. | On or before the 10th day of the subsequent month, after publication of public notice under Section 102. |
| PGIRP-3 | From public announcement till submission of report on the repayment plan. | On or before the 10th day of the subsequent month, after the submission of report by the RP under Section 106 or 112 as the case may be; or filing of application under Regulation 17B. |
| PGIRP-4 | From the report on repayment plan till the order of AA on repayment plan. | On or before the 10th day of the subsequent month, after the order of the AA on repayment plan under Section 114; or order on application under Regulation |
| 17B. | ||
| PGIRP-5 | From the order of approval of repayment plan till discharge of the personal guarantor. | On or before the 10th day of the subsequent month, after passing of the order by the AA under Section 118(3) or 119(1). |
| PGIRP-6 | Periodical Report (includes status of the process, reasons for delay, last activity completed etc.). | On or before the 10th day of the subsequent month after end of each quarter till closure of the process. |
Footnote
1. IBBI Circular on Filing of Forms to monitor IRP
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
