IBBI has introduced revised and simplified forms for the Corporate Insolvency Resolution Process (CIRP), effective from 1st June 2025. The existing nine forms (Form IP-1 and CIRP Forms 1-8) have been consolidated into five new forms (CP-1 to CP-5) by eliminating duplication and streamlining data requirements, with some information auto-populated. The new framework also introduces a standardized monthly reporting cycle, replacing the previous event- based due dates.