IBBI Update - Format for “Statement of Beneficial Ownership” and Affidavit under Regulation 38(3A) of the CIRP Regulations

The Insolvency and Bankruptcy Board of India, vide Circular dated 29 December 2025, has prescribed mandatory formats for the Statement of Beneficial Ownership and an Affidavit on eligibility under section 32A to be included in every resolution plan, pursuant to the insertion of Regulation 38(3A) of the CIRP Regulations. Resolution Professionals are required to ensure that these documents, in the specified formats, form part of the resolution plan submitted to the Committee of Creditors and filed before the Adjudicating Authority. Link - View Circular