IBBI's Revised Form CA: How a Mumbai Homebuyer Files a Claim in a Builder Insolvency

On 30 October 2026, the Insolvency and Bankruptcy Board of India changed the one document every homebuyer in a builder's insolvency has to fill in. IBBI Circular No. IBBI/CIRP/109/2026 revises Form CA, the claim form for financial creditors in a class, and splits it in two. Part II is now written for real estate allottees alone, asking for the tower, the unit number, every payment with its date and mode, and whether you want your flat, your conveyance or your money back.

For a Mumbai buyer whose developer has gone into the corporate insolvency resolution process, this is the form that puts you on the list of creditors. This guide explains what it asks, what the preference box does and does not do, and the deadlines that still apply. It does not assess any specific insolvency case.

The short answer. From 30 October 2026, allottees file claims in Part II of the revised Form CA, with sections on identity, project and unit, payments, preferred relief, possession status and supporting documents. Claims already filed in the earlier form need not be re-submitted. Under regulation 12 of the CIRP Regulations, a claim is due by the last date in the public announcement, and late claims can still be filed up to the issue of the request for resolution plans or 90 days from the insolvency commencement date, whichever is later. The trade-off: ticking "possession" or "refund" helps the resolution professional plan, but IBBI says it "does not confer any right" to that relief; the approved resolution plan decides.

What did IBBI change in Form CA on 30 October 2026?

It created a separate, allottee-specific part. The circular says the Committee on Framing Guidelines for Insolvency Proceedings in the Real Estate Sector (April 2026) observed that "a simplified and allottee-specific claim form would improve participation by homebuyers, facilitate claim verification, and assist in collection of project-level information." Accordingly, in partial modification of Circular No. IBBI/CIRP/94/2026 dated 2 June 2026, Form CA under regulation 8A of the CIRP Regulations "is hereby revised."

Part I is for financial creditors in a class other than real estate allottees. Part II "is to be filled by real estate allottees." The circular says financial creditors in a class, including allottees, "shall file their claims in the revised Form CA on or after the date of this Circular," and that claims already filed in the earlier form "need not be re-submitted."

What does Part II ask a homebuyer to fill in?

Five sections plus documents. Section I covers the allottee's name, PAN if available or another government identity document, address, email and mobile number. Section II asks for the project name, RERA registration number if applicable, tower or block, unit number, whether the unit is residential or commercial, and the date of allotment or agreement for sale.

Section III is the money. It asks for the total purchase value as per the agreement, and a table of each payment with its date, amount, mode of payment such as bank transfer or cheque, and the principal, interest and total claimed. There is a separate line for any other amount claimed. Section IV records the relief you prefer, and Section V asks whether possession has been handed over and, if so, on what date.

The supporting documents listed are the agreement for sale or allotment letter, proof of payments, any possession letter, and any other relevant document. The form says it "may be submitted electronically or in physical form, as notified in the public announcement."

The form ends with a declaration and a verification. The claimant declares the amount the builder owed on the insolvency commencement date, lists the documents relied on, states that they are "true, valid and genuine" to the best of their knowledge, and discloses any satisfaction or security already received. The claimant must also state whether they are a related party of the corporate debtor under section 5(24) of the Code. Read these lines carefully before signing.

Does ticking "possession" or "refund" guarantee that outcome?

No. The note under Section IV is explicit. It says the preference "is for information only," taken to help the resolution professional collate project-wise information and to help prospective resolution applicants frame a plan. It "does not confer any right on the allottee to the relief so indicated, does not bind the successful resolution applicant to provide it, and does not create any obligation in that regard." The relief actually available "shall be governed by the terms of the resolution plan as approved by the Adjudicating Authority."

The preference still matters. The CIRP Regulations as amended up to 30 October 2026 require the information memorandum for a builder with a real estate project to give project-wise numbers of allottees seeking possession, refund, conveyance or other relief "as indicated in the claim form," along with the number who indicated no preference. Regulation 38A, substituted on the same date, says every resolution plan must provide for the "treatment of claims of allottees, by way of possession of units, execution of conveyance deed, registration or transfer of title" or "refund of amount, or in any other manner."

What is the deadline to file a homebuyer claim?

The date in the public announcement, with a defined window for late claims. Regulation 12(1) says a creditor "shall submit claim with proof on or before the last date mentioned in the public announcement." A creditor who misses it "may submit his claim with proof" up to the date of issue of the request for resolution plans under regulation 36B, or 90 days from the insolvency commencement date, "whichever is later." Beyond 90 days, the creditor must give reasons for the delay.

After filing, regulation 13 says the resolution professional shall verify every claim within seven days from the last date of receipt of claims and admit or reject it, in whole or in part, communicating the decision with reasons. Regulation 12A requires a creditor to update the claim as and when it is satisfied, partly or fully, from any source.

Buyers who never file are not simply erased. Regulation 38A(c) says that where the information memorandum includes allottees who have not submitted claims, "the resolution plan shall provide for treatment of such allottees." Filing on time is still the safer course, so that your claim can be verified and admitted under regulation 13.

Can you get possession while the builder is in insolvency?

Possibly, with the committee's approval. Regulation 4E says that after obtaining the approval of the committee "with not less than sixty-six percent of total votes," the resolution professional "shall hand over the possession of the plot, apartment, or building" and facilitate registration, "where the allottee has requested for the same and has performed his part under the agreement." The committee may approve each request or give in-principle approval for all such requests.

For a Mumbai buyer who has paid in full and is waiting only for handover, that is the route to ask about. Our earlier report on IBBI's companion circular on RERA compliance and site signboards covers how you will learn a project is in insolvency, and our guide to what happens to homebuyers if a builder goes into liquidation covers the worst case.

What should a Mumbai homebuyer do this week?

Act on the public announcement and get the paperwork in order. Use this list:

1. Find the public announcement for your developer's insolvency and note the last date for claims and the mode of submission.
2. Download the revised Form CA from IBBI Circular No. IBBI/CIRP/109/2026 and fill in Part II only.
3. List every payment with its date, amount and mode, and match each to a bank statement or receipt.
4. Attach the agreement for sale or allotment letter, payment proofs and any possession letter.
5. Decide as a family whether you prefer possession, conveyance, refund or another outcome, knowing the box is not binding.
6. File before the deadline, keep proof of submission, and watch for the resolution professional's admission or rejection with reasons.
7. If you have paid in full and performed your part of the agreement, ask the resolution professional whether a regulation 4E handover request can be placed before the committee.

Frequently asked questions

What is IBBI's revised Form CA for homebuyers?

IBBI Circular No. IBBI/CIRP/109/2026 dated 30 October 2026 revises Form CA, the claim form for financial creditors in a class. Part I is for other creditors in a class, and Part II is to be filled by real estate allottees, with sections on identity, unit, payments, preferred relief and possession.

Do I need to re-file a claim already submitted in the old form?

No. The circular says financial creditors in a class, including real estate allottees, shall file claims in the revised Form CA on or after the date of the circular, and that claims already filed in the earlier Form CA before that date need not be re-submitted.

Is my choice of possession or refund in Form CA binding?

No. The form's note says the preference is for information only, does not confer any right on the allottee to that relief, and does not bind the successful resolution applicant. The relief actually available is governed by the resolution plan approved by the Adjudicating Authority.

Can a homebuyer file a claim after the deadline?

Regulation 12 of the CIRP Regulations allows a late claim up to the date of issue of the request for resolution plans under regulation 36B or 90 days from the insolvency commencement date, whichever is later. Beyond 90 days, the creditor must give reasons for the delay.

This article explains an IBBI circular and the CIRP Regulations for information only and is not legal advice. Each insolvency is governed by its own public announcement and the orders of the Adjudicating Authority.

Last updated 2026-11-10. PropNewz Team.