The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2026. The changes, issued under the Insolvency and Bankruptcy Code, 2016, aim to strengthen transparency, creditor participation, and oversight in corporate insolvency resolution processes (CIRP).
The amendment to Regulation 16 specifies that the committee of creditors (CoC) must include the “eighteen largest unrelated operational creditors.” If fewer than eighteen such creditors exist, all unrelated operational creditors will be included. This ensures broader representation of operational creditors in the CoC.
A …