**Executive Summary**
This document is a notification from the Insolvency and Bankruptcy Board of India (IBBI) announcing amendments to the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. These amendments, titled the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2026, are effective from the date of their publication in the Official Gazette (February 25, 2026). The key change relates to valuation standards and reporting requirements for registered valuers.
**Key Points / Main Content**
* **Effective Date:** The regulations come into force on the date of publication in the Official Gazette, February 25, 2026.
* **Amendment to Valuation Standards:**
* Replaces the term "internationally accepted valuation standards" with "such valuation standards as notified by the Board through circular" in Regulation 30(2) of the principal regulations.
* **Additional Reporting Requirement for Registered Valuers:**
* Adds a new sub-regulation (5) to Regulation 30: "For the purposes of this regulation, a registered valuer shall prepare the valuation report and maintain such documentation as per the format notified by the Board through circular."
**Impact Analysis**
**Stakeholder: Registered Valuers**
* **Impact:** They will need to adhere to valuation standards as notified by the Board through circulars and prepare valuation reports and maintain documentation according to the format specified by the Board in circulars.
* **Action Required:** Review and comply with the valuation standards and reporting format notified by the Board through circulars for preparing valuation reports and maintaining required documentation.
Key Entities Referenced
Insolvency and Bankruptcy Board of India (IBBI): The regulator responsible for implementing the Insolvency and Bankruptcy Code.
Insolvency and Bankruptcy Code, 2016: The primary law governing insolvency and bankruptcy proceedings in India.
Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019: Regulations specifying the bankruptcy process for personal guarantors to corporate debtors.
Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2026: Amendment regulations to the 2019 regulations, modifying valuation standards and documentation requirements.
Registered Valuer: A professional who is registered with the IBBI and is authorized to conduct valuations.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-25022026-270484
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 133] नई दिल्ली, बुधवार, फरवरी 25, 2026/फाल्ग नु 6, 1947
No. 133] NEW DELHI, WEDNESDAY, FEBRUARY 25, 2026/PHALGUNA 6, 1947
भारतीय दिवाला और िोधन अक्षमता बोड ड
अजधसचू ना
नई दिल्ली, 25 फरवरी, 2026
भारतीय दिवाला और िोधन अक्षमता बोड ड (जनगजमत ऋजणयों के व्यजिगत प्रत्याभजू तिाताओं के जलए िोधन अक्षमता
प्रदिया)(सिं ोधन) जवजनयम, 2026
फा. स.ं आई.बी.बी.आई./2025-26/िी.एन./आर.ई.िी.139.— भारतीय दिवाला और िोधन अक्षमता बोडड,
दिवाला और िोधन अक्षमता सजं िता, 2016 (2016 का 31) की धारा 240 के साथ पठित धारा 196 की उपधारा (1) के
खंड (न) द्वारा प्रित्त िजियों का प्रयोग करते हुए, भारतीय दिवाला और िोधन अक्षमता बोडड(जनगजमत ऋजणयों के
व्यजिगत प्रत्याभूजतिाताओं के जलए िोधन अक्षमता प्रदिया) जवजनयम, 2019 में संिोधन करने के जलए जनम्नजलजखत
जवजनयम बनाता ि,ै अथातड ्:-
1. (1) इन जवजनयमों का संजक्षप्त नाम भारतीय दिवाला और िोधन अक्षमता बोडड(जनगजमत ऋजणयों के व्यजिगत
प्रत्याभूजतिाताओं के जलए िोधन अक्षमता प्रदिया) (संिोधन) जवजनयम, 2026 ि ै।
(2) य ेरािपत्र में प्रकािन की तारीख को प्रवृत्त िोंग े।
2. भारतीय दिवाला और िोधन अक्षमता बोडड(जनगजमत ऋजणयों के व्यजिगत प्रत्याभूजतिाताओं के जलए िोधन
अक्षमता प्रदिया) जवजनयम, 2019 (जिन्ि ें इसमें इसके पश्चात ् ‘मूल जवजनयम’ किा गया ि)ै के जवजनयम 30 के उप-जवजनयम
1395 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(2) में, “अंतरराष्ट्रीय रूप से स्ट्वीकृत मूल्यांकन मानकों” िब्िों के स्ट्थान पर “ऐस े मल्ू यांकन मानकों, िो बोड ड द्वारा पठरपत्र के
माध्यम से अजधसूजचत दकए िाएं” िब्ि रखे िाएंग े ।
3. मूल जवजनयमों के जवजनयम 30 में, उप-जवजनयम (4) के पश्चात्, जनम्नजलजखत उप-जवजनयम अंतःस्ट्थाजपत दकया िाएगा,
अथाडत:् -
“(5) इस जवजनयम के प्रयोिनों के जलए, प्रत्येक रजिस्ट्रीकृत मूल्यांकक मूल्यांकन ठरपोर्ड तैयार करेगा और बोड ड
द्वारा पठरपत्र के माध्यम से अजधसूजचत प्ररूप के अनुसार ऐसे िस्ट्तावेज़ रखगे ा ।”
रजव जमत्तल, अध्यक्ष
[जवज्ञापन-III/4/असा./716/2025-26]
ठर्प्पण: भारतीय दिवाला और िोधन अक्षमता बोड(ड जनगजमत ऋजणयों के व्यजिगत प्रत्याभूजतिाताओं के जलए िोधन
अक्षमता प्रदिया) जवजनयम, 2019, भारत के रािपत्र, असाधारण, भाग 3, खंड 4, स.ं 412, तारीख 20 नवम्बर,
2019 में अजधसूचना सं. आई.बी.बी.आई./2019-20/िी.एन./आर.ई.िी.051, तारीख 20 नवम्बर, 2019 द्वारा
प्रकाजित दकए गए थे और उनमें अंजतम संिोधन भारत के रािपत्र, असाधारण, भाग 3, खंड 4 सं. 72,
तारीख 31 िनवरी, 2024 में अजधसूजचत सं. आई.बी.बी.आई./2023-24/ िी.एन./आर.ई.िी.108, तारीख
31 िनवरी, 2024 द्वारा प्रकाजित भारतीय दिवाला और िोधन अक्षमता बोड(ड जनगजमत ऋजणयों के व्यजिगत
प्रत्याभूजतिाताओं के जलए िोधन अक्षमता प्रदिया) (संिोधन) जवजनयम 2024 द्वारा दकया गया था ।
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 25th February, 2026
Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate
Debtors) (Amendment) Regulations, 2026
F. No. IBBI/2025-26/GN/REG139.—In exercise of the powers conferred by clause (t) of sub-section (1) of
section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and
Bankruptcy Board of India hereby makes the following regulations to further amend the Insolvency and Bankruptcy
Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, namely: -
1. (1) These regulations may be called Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal
Guarantors to Corporate Debtors) (Amendment) Regulations, 2026.
(2) They shall come into force on the date of publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India Bankruptcy Process for Personal Guarantors to Corporate
Debtors) Regulations, 2019, (hereinafter referred to as ‘the principal regulations’), in regulation 30, in sub-regulation
(2), for the words “internationally accepted valuation standards” the words “such valuation standards as notified by
the Board through circular” shall be substituted.
3. In the principal regulations, in regulation 30, after sub-regulation (4), the following shall be inserted, namely:-
“(5) For the purposes of this regulation, a registered valuer shall prepare the valuation report and maintain such
documentation as per the format notified by the Board through circular.”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./716/2025-26]
Note: The Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate
Debtors) Regulations, 2019 were published vide notification No. IBBI/2019- 20/GN/REG051, dated
20th November, 2019 in the Gazette of India, Extraordinary, Part III, Section 4, No. 412 on 20th November,
2019 and were last amended by the Insolvency and Bankruptcy Board of India (Bankruptcy Process for
Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2024 published vide notification No.
IBBI/2023-24/GN/REG108, dated the 31st January, 2024 in the Gazette of India, Extraordinary,
Part III, Section 4, No.72 on 31st January, 2024.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.