IBBI has vide its circular dated 27th November, 2020 created an online website for the list of creditors to be uploaded on it for the benefit of the stakeholders. Interim Resolution Professionals or Resolution Professionals have anyways to update the list and submit it to the Adjudication Authority and upload it on the website of the corporate debtor. Now vide this mechanism, the list of creditors will be made available on a public website for perusal by the stakeholders.
This requirement is applicable to every corporate insolvency resolution process ongoing as on 13th November, 2020. The format of list of creditors is given in the Annexure to the said circular.
This has been bought about vide an amendment to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016.
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