The VakilKaro Brief: IBBI Launches PGIRP E-Forms for Personal Guarantor Insolvency Monitoring The Update IBBI has introduced six electronic forms for structured reporting of insolvency processes involving personal guarantors to corporate debtors. The Action Insolvency professionals handling personal guarantor cases must start filing PGIRP forms through the electronic platform within the prescribed timelines.
Through Circular No. IBBI/II/92/2026 dated 6 March 2026, the Board launched six e-forms- PGIRP-1 to PGIRP-6to enable stage-wise reporting of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. The new system is designed to improve transparency, accuracy, and efficiency in monitoring personal guarantor insolvency cases.
Key Takeaways
- IBBI/II/92/2026 dated 6 March 2026, the Board launched six e-forms- PGIRP-1 to PGIRP-6to enable stage-wise reporting of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016.
- The VakilKaro Brief: IBBI Launches PGIRP E-Forms for Personal Guarantor Insolvency Monitoring The Update IBBI has introduced six electronic forms for structured reporting of insolvency processes involving personal guarantors to corporate debtors.
- The Action Insolvency professionals handling personal guarantor cases must start filing PGIRP forms through the electronic platform within the prescribed timelines.
- Conclusion The introduction of PGIRP-1 to PGIRP-6 e-forms marks a significant step toward digitizing insolvency reporting for personal guarantor cases under the IBC.
- By replacing email-based reporting with structured electronic forms, the IBBI aims to enhance transparency, improve efficiency, and ensure more reliable monitoring of insolvency processes.
The VakilKaro Brief: IBBI Launches PGIRP E-Forms for Personal Guarantor Insolvency Monitoring
The Update
IBBI has introduced six electronic forms for structured reporting of insolvency processes involving personal guarantors to corporate debtors.
The Impact
Resolution professionals must now submit process updates through the IBBI portal instead of emails, ensuring standardized and transparent reporting.
The Action
Insolvency professionals handling personal guarantor cases must start filing PGIRP forms through the electronic platform within the prescribed timelines.
Background of the Circular
The IBBI issued Circular No. IBBI/II/92/2026 on 6 March 2026 to introduce a structured digital reporting system for insolvency resolution processes involving personal guarantors to corporate debtors.
Earlier, resolution professionals were required to submit periodic information to the Board through emails. This process often resulted in delays, inefficiencies, and inconsistencies in reporting.
To address these issues, the Board has introduced electronic forms that will allow insolvency professionals to upload process updates directly on the IBBI portal.
Purpose of the New PGIRP E-Forms
The newly introduced forms aim to improve monitoring of insolvency proceedings under the Insolvency and Bankruptcy Code.
The primary objectives of the new system include:
• Enabling structured stage-wise reporting of personal guarantor insolvency processes
• Improving transparency and traceability of insolvency proceedings
• Reducing administrative delays caused by email-based reporting
• Ensuring accurate and standardized data submission
Resolution professionals will now submit information electronically through the IBBI portal using digital signatures or e-sign authentication.
Overview of the Six PGIRP Forms
The new reporting framework includes six forms covering different stages of the insolvency process.
Form Process Stage Covered Timeline
PGIRP-1 Admission under Section 94/95 to report under Section 99 Within 10 days of the next month after submission of RP report
PGIRP-2A From Section 99 report to rejection order under Section 100 Within 10 days of the next month after rejection order
PGIRP-2B Admission order under Section 100 to public announcement Within 10 days of the next month after public notice
PGIRP-3 Public announcement to submission of repayment plan report Within 10 days after report submission or related filing
PGIRP-4 From repayment plan report to adjudicating authority’s order Within 10 days after the order on repayment plan
PGIRP-5 Approval of repayment plan to discharge of personal guarantor Within 10 days after discharge or related order
PGIRP-6 Quarterly process status reporting Within 10 days after end of each quarter
These forms collectively cover the entire lifecycle of the personal guarantor insolvency resolution process.
Filing Timelines and Applicability
The circular provides specific timelines for filing these forms depending on the stage of the insolvency process.
In cases where orders under Section 97 or Section 100 are passed after the circular’s issuance, resolution professionals must file the applicable forms within the prescribed timelines.
For ongoing cases where the report under Section 99 has already been submitted but the admission order under Section 100 has not yet been passed, the forms must be filed by 31 March 2026.
Where the insolvency process has already been admitted but not concluded, the required forms must be filed by 30 June 2026.
Compliance Requirements for Insolvency Professionals
Insolvency professionals handling personal guarantor cases must access the electronic platform using unique login credentials provided by IBBI.
The forms must be submitted through the portal along with relevant records and authenticated using digital signature certificates or e-sign.
IBBI has also provided a modification utility that allows insolvency professionals to update submitted information through an OTP-based authentication system.
Failure to submit complete or accurate information may result in regulatory action under the Insolvency and Bankruptcy Code, including refusal to issue or renew authorization for assignment.
Key Implementation Timeline
IBBI has allowed a transition period to help insolvency professionals adapt to the new reporting system.
Penalties for delayed filing or modification of forms will not be imposed until 30 June 2026.
This grace period is intended to allow users to familiarize themselves with the platform and resolve any technical issues that may arise during initial implementation.
Conclusion
The introduction of PGIRP-1 to PGIRP-6 e-forms marks a significant step toward digitizing insolvency reporting for personal guarantor cases under the IBC.
By replacing email-based reporting with structured electronic forms, the IBBI aims to enhance transparency, improve efficiency, and ensure more reliable monitoring of insolvency processes.
For insolvency professionals, timely and accurate submission of these forms will now become a critical compliance requirement under the evolving insolvency framework.
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IBBI Introduces PGIRP E-Forms for Personal Guarantor Insolvency Reporting+
The VakilKaro Brief: IBBI Launches PGIRP E-Forms for Personal Guarantor Insolvency Monitoring The Update IBBI has introduced six electronic forms for structured reporting of insolvency processes involving personal guarantors to corporate debtors. The Action Insolvency professionals handling personal guarantor cases must start filing PGIRP forms through the electronic platform within the prescribed timelines.