2.18.18. Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
For the purposes of clause (d) of sub-section (3) of section 54C, the applicant shall furnish-
(a) audited financial statements of the corporate debtor for the last two financial years;
(b) provisional financial statements for the current financial year made up to the date of declaration under clause (f) of sub-section (2) of section 54A; and
(c) Form P5 submitted by the authorised representatives selected under sub-regulation (5) of regulation 15.
For the purposes of sub section (3) of section 54C of the Code, the corporate applicant shall, along with the application, furnish the following information and documents:
(1) a copy of the declaration made by the majority of the directors or partners, as the case may be, in such format as notified by the Board;
(2) a copy of the declaration, special resolution or resolution, as the case may be, for initiating pre-packaged insolvency resolution process in terms of section 54A;
(3) proof of approval from financial creditors, not being related parties, representing not less than fifty-one per cent. in value of the financial debt;
(4) details of insolvency professional as follows:
(a) the written consent of the proposed resolution professional in such format as notified by the Board;
(b) the report of the resolution professional referred to in clause (a) of sub-section (1) of section 54B of the Code, prepared in such format as notified by the Board.
(5) audited financial statements of the corporate debtor for the last two financial years;
(6) provisional financial statements for the current financial year made up to the date of the declaration by the directors or partners, as the case may be; and