The revision follows amendments to the Liquidation Process Regulations vide notification dated 2nd January 2026 and aims to reduce compliance burden by eliminating duplication, rationalising data fields, and enabling auto-population of information already available on the IBBI portal. Four revised forms i.e. LIQ-1 to LIQ-4 now cover the entire liquidation lifecycle, from commencement and public announcement to dissolution or closure, each with clearly defined timelines.