The Insolvency and Bankruptcy Board of India (IBBI) has notified significant amendments to the Insolvency Resolution Process for Personal Guarantors to Corporate Debtors Regulations, 2019, aimed at enhancing transparency and coordination in insolvency proceedings.
Under the Insolvency and Bankruptcy Board of India (Amendment) Regulations, 2026, personal guarantors initiating insolvency must now file a comprehensive statement of assets with supporting evidence.
The disclosure covers cash, bank deposits, business interests, investments (domestic and overseas), immovable property, retirement funds, digital assets such as cryptocurrencies and NFTs, intellectual property, valuable movables, agricultural assets,…