The Insolvency and Bankruptcy Board of India (IBBI) issued Notification No. IBBI/2025-26/GN/REG130 dated October 14, 2025, introducing the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Sixth Amendment) Regulations, 2025. The new regulations took effect immediately upon publication in the Official Gazette.
Main Amendments
(a) Omission of Regulation 39C:
The amendment omits Regulation 39C of the CIRP Regulations, 2016. This regulation earlier dealt with the process of inviting resolution plans and managing distributions when liquidation followed due to non-approval of a resolution plan. Its…