The Insolvency and Bankruptcy Board of India (IBBI) has introduced the Insolvency Resolution Process for Corporate Persons (Fifth Amendment) Regulations, 2025 (regulations). These make significant changes to the corporate insolvency resolution process (CIRP) and are in force from 4 July 2025.
In particular, the amendments impose disclosure requirements for the information memorandum (IM). This document, prepared by the resolution professional, contains detailed information on the financial, operational and legal position of the corporate debtor. Prospective resolution applicants rely on the IM when drawing up their resolution plans.
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The regulations also introduce new restrictions against…