Adjudicating Authorities Rules Forms explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
The Insolvency and Bankruptcy (Application to Adjudicating Authorities) Rules, 2016 prescribe the forms for initiating a corporate insolvency resolution process — Form 1 for a financial creditor, Form 5 for an operational creditor and Form 6 for a corporate debtor, with Forms 2, 3, 4 and 5A supporting them.
The forms
| Form | Particulars |
|---|---|
| Form 1 | Application by financial creditor to initiate CIRP under Section 7 / Fast Track CIRP — Regulation 4(1) |
| Form 2 | Consent by proposed IRP — Regulation 9(1) |
| Form 3 | Demand notice / invoice demanding payment under CIRP — Regulation 5(1)(a) |
| Form 4 | Notice with which the invoice demanding payment is to be attached — Regulation 5(1)(b) |
| Form 5 | Application by operational creditor to initiate CIRP under Section 9 / Fast Track CIRP — Regulation 6(1) |
| Form 5A | Certificate from a financial institution for an operational creditor under Section 9(3)(c) — no credit from the CD |
| Form 6 | Application by corporate debtor to initiate CIRP / Fast Track CIRP — Regulation 7(1) |
The operational creditor route
- The operational creditor initiates the process by sending a demand notice using either Form 3 (demand notice) or Form 4 (covering letter for the demand notice).
- Form 3 contents: details of the operational debt due; evidence of default; documentary evidence supporting the claim; and records with an information utility, if applicable.
- A 10-day notice period is given to the corporate debtor and its board of directors, allowing them to respond or show any pre-existing disputes.
- If there is no response within the notice period, the operational creditor files an application in Form 5.
- The operational creditor must also submit Form 5A — a certificate from a financial institution confirming no payment has been received from the corporate debtor, under Section 9(3)(c).
The notice period exists so the corporate debtor can respond or show a pre-existing dispute. A demonstrated pre-existing dispute defeats a Section 9 application.
That is also why Section 67C now imposes a civil penalty of up to three times loss or unlawful gain — capped at five crore rupees where unquantifiable — on an operational creditor who knowingly conceals a dispute or full payment in a Section 9 application.
Contents of the application
The application must include particulars of the applicant, the corporate debtor, the interim resolution professional and details of the debt.
For financial creditor and corporate debtor applications, pre-appointment of an IRP is mandatory, and the insolvency professional must provide consent using Form 2.
Filing fees
- Rs. 25,000 for operational creditor applications.
- Rs. 2,500 for other types of applications.
Documents to attach
The Adjudicating Authorities Rules forms are filed with supporting material, and an application under the Adjudicating Authorities Rules forms is incomplete without it.
- A copy of the demand notice or invoice as per Form 3.
- Relevant accounts confirming non-payment by the corporate debtor.
- An affidavit in support of the application, and any other documents required.
Points that decide admission
- Proof of default from an information utility is the cleanest evidence, and it is required for a Fast Track application under Section 55.
- The pre-existing dispute question is settled on what the debtor raises in the 10-day window, so the notice must be properly served and the response recorded.
- Form 5A is a statutory requirement for an operational creditor, not an optional annexure.
- Form 2 consent must be current — the proposed IRP needs a valid authorisation for assignment.
- Section 75 imposes a fine of one lakh to one crore rupees for knowingly furnishing false information in a Section 7 application.
Compliance checklist
- Serve the demand notice in Form 3 or Form 4 and record service.
- Allow the full 10-day notice period.
- Obtain Form 5A before filing a Section 9 application.
- Obtain Form 2 consent for financial creditor and corporate debtor applications.
- Pay the correct fee — Rs. 25,000 or Rs. 2,500.
- Attach the demand notice, accounts and affidavit.
- Disclose any dispute or part payment.
Common mistakes
- Filing a Section 9 application before the 10 days expire.
- Omitting Form 5A.
- Naming an IRP whose authorisation for assignment has lapsed.
- Paying the Rs. 2,500 fee on an operational creditor application.