The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025, bringing significant changes aimed at enhancing transparency and accountability in the corporate insolvency resolution process (CIRP).
The amendment mandates stricter disclosure of “avoidance transactions” and bars their post-facto inclusion in resolution plans unless previously disclosed. These changes amend the original 2016 regulations under the Insolvency and Bankruptcy Code (IBC), 2016.
Mandatory Disclosure of Avoidance Transactions:
Regulation 36(1) now includes the clause “and its subsequent updates thereof,” emphasizing continuous…