On October 14th 2025, the Insolvency and Bankruptcy Board of India (IBBI) has issued “Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2025”. By exercising its power conferred by virtue of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the IBBI has released the said amendment. The amendment came into...
On October 14th 2025, the Insolvency and Bankruptcy Board of India (IBBI) has issued “Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2025”. By exercising its power conferred by virtue of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the IBBI has released the said amendment.
The amendment came into effect with the prospective application and it modifies the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
The amendment has omitted the clause (f) of sub regulation (1) in regulation 31A, of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
Following amendments in regulation 32 were made-
- In clause 2, after the mark “;”, the word “or” has been inserted.
- In clause (d) the mark “;” has been substituted with “:”.
- And, the clauses (e) and (f) has been omitted.
- In proviso, the letter and symbol “(f)”, has been substituted with the letter and symbol “(d)”.
And, the amendment has also omitted the regulation 32A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.