Date: 2026-05-20Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by 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
**Executive Summary**
The Insolvency and Bankruptcy Board of India (IBBI) issued the Insolvency Resolution Process for Corporate Persons (Second Amendment) Regulations, 2026, on May 19, 2026. Effective from the date of its Gazette publication on May 20, 2026, the document amends Regulation 27 to streamline the valuation process for Micro, Small, and Medium Enterprises (MSMEs). The amendment mandates the appointment of a single set of registered valuers for MSME corporate debtors, unless otherwise decided by the committee.
**Key Points / Main Content**
* **Regulatory Framework and Commencement**
* The regulations are titled the "Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2026."
* The provisions come into force immediately upon their publication in the Official Gazette (May 20, 2026).
* The amendments are made under the powers conferred by Section 196 read with Section 240 of the Insolvency and Bankruptcy Code, 2016.
* **Amendment to Regulation 27 (Appointment of Valuers)**
* A new proviso is inserted into Regulation 27, following sub-regulation (1).
* For corporate debtors classified as MSMEs under the Micro, Small and Medium Enterprises Development Act, 2006, the resolution professional is required to appoint only one set of registered valuers.
* An exception is permitted where the committee may decide to appoint two sets of registered valuers, provided the reasons for this decision are recorded in writing.
**Impact Analysis**
**Resolution Professionals (RPs)**
**Impact**
RPs are now restricted by default to appointing a single set of registered valuers when handling the insolvency process of an MSME corporate debtor.
**Action Required**
RPs must ensure that only one set of valuers is appointed for MSMEs unless directed otherwise by the committee; any deviation must be supported by the committee’s written reasons.
**Committee of Creditors (CoC)**
**Impact**
The committee retains the discretionary power to increase the number of valuer sets from one to two for MSME corporate debtors.
**Action Required**
If the committee determines that two sets of registered valuers are necessary for an MSME, it must formally decide and record the specific reasons for this requirement in writing.
**MSME Corporate Debtors**
**Impact**
Corporate debtors classified as micro, small, or medium enterprises are subject to a simplified valuation requirement (one set of valuers) during the resolution process.
**Action Required**
No specific action is required from the debtor; the provision governs the procedural conduct of the resolution professional and the committee.
Key Entities Referenced
Insolvency and Bankruptcy Board of India (IBBI): The primary regulatory body issuing the notification and exercising powers to amend corporate insolvency resolution regulations.
Insolvency and Bankruptcy Code, 2016: The parent legislation (specifically Sections 196 and 240) providing the legal authority to frame and amend these regulations.
Micro, Small and Medium Enterprises Development Act, 2006: The law used to classify corporate debtors as MSMEs, which determines eligibility for the simplified valuer appointment process.
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016: The principal policy document being amended to allow resolution professionals to appoint only one set of registered valuers for MSMEs.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-21052026-272744
xxxGIDHxxx
CG-DL-E-21052026-272744
xxxGIDExxx
ऄसाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 328] नइ ददल्ली, बुधवार, मइ 20, 2026/विै ाख 30, 1948 ष 22, 1947
No. 328] NEW DELHI, WEDNESDAY, MAY 20, 2026/VAISAKHA 30, 1948 s 1947
भारतीय ददवाला और िोधन ऄक्षमता बोड ड
ऄजधसचू ना
नइ ददल्ली, 19 मइ, 2026
भारतीय ददवाला और िोधन ऄक्षमता बोडड (कारपोरेट व्यजियों के जलए ददवाला समाधान प्रदिया) (दसू रा सिं ोधन)
जवजनयम, 2026
फा. स.ं अइ.बी.बी.अइ./2026-27/िी.एन./अर.इ.िी.141.—भारतीय ददवाला और िोधन ऄक्षमता बोडड,
ददवाला और िोधन ऄक्षमता संजहता, 2016 (2016 का 31) की धारा 240 के साथ पठित धारा 196 द्वारा प्रदत्त िजियों
का प्रयोग करते हुए, भारतीय ददवाला और िोधन ऄक्षमता बोडड (कारपोरेट व्यजियों के जलए ददवाला समाधान प्रदिया)
जवजनयम, 2016 का और संिोधन करने के जलए जनम्नजलजखत जवजनयम बनाता है, ऄथातड ्: -
1. (1) आन जवजनयमों का संजक्षप्त नाम भारतीय ददवाला और िोधन ऄक्षमता बोड ड (कारपोरेट व्यजियों के जलए
ददवाला समाधान प्रदिया) (दसू रा संिोधन) जवजनयम, 2026 ह ै।
(2) ये रािपत्र में प्रकािन की तारीख को प्रवृत्त होंग े ।
2. भारतीय ददवाला और िोधन ऄक्षमता बोडड (कारपोरेट व्यजियों के जलए ददवाला समाधान प्रदिया) जवजनयम,
2016 के जवजनयम 27 में, ईप-जवजनयम (1) के पश्चात्, जनम्नजलजखत परन्तुक ऄंतःस्ट्थाजपत दकया िाएगा, ऄथाडत्:-
3612 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
“परन्तु समाधान व्यावसाजयक, सूक्ष्म, लघ ु और मध्यम ईद्यम जवकास ऄजधजनयम, 2006 (2006 का 27)
की धारा 7 की ईपधारा (1) के ऄधीन दकसी सूक्ष्म, लघु या मध्यम ईद्यम के रूप म ेंवगीकृत दकसी कारपोरेट ऋणी
की बाबत रजिस्ट्रीकृत मल्ू यांककों के एक समूह की जनयुजि करेगा िब तक दक सजमजत, ईन कारणों से, िो लेखबद्ध
दकए िाएं, रजिस्ट्रीकृत मूल्यांककों के दो समूहों की जनयुजि करने का जवजनश्चय नहीं करती ।”
रजव जमत्तल, ऄध्यक्ष
[जवज्ञापन-III/4/ऄसा./96/2026-27]
ठटप्पण : भारतीय ददवाला और िोधन ऄक्षमता बोडड (कारपोरेट व्यजियों के जलए ददवाला समाधान प्रदिया) जवजनयम,
2016, भारत के रािपत्र, ऄसाधारण, भाग 3, खडं 4 सं. 432, तारीख 30 नवम्बर, 2016 में ऄजधसूचना
सं. अइ.बी.बी.अइ./2016-17/िी.एन./अर.इ.िी.004, तारीख 30 नवम्बर, 2016 द्वारा प्रकाजित दकए गए
थ े और ईनम ें ऄंजतम संिोधन भारत के रािपत्र, ऄसाधारण, भाग 3, खडं 4, सं. 143, तारीख 25 फरवरी,
2026 में, ऄजधसूचना सं. अइ.बी.बी.अइ./2025-26/िी.एन./अर.इ.िी.135, तारीख 25 फरवरी, 2026
द्वारा प्रकाजित भारतीय ददवाला और िोधन ऄक्षमता बोड ड (कारपोरेट व्यजियों के जलए ददवाला समाधान
प्रदिया) (संिोधन) जवजनयम, 2026 द्वारा दकया गया था ।
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 19th May, 2026
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second
Amendment) Regulations, 2026.
F. No. IBBI/2026-27/GN/REG141.—In exercise of the powers conferred by 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 (Insolvency
Resolution Process for Corporate Persons) Regulations, 2016, namely: -
1. (1) These regulations may be called Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for
Corporate Persons) (Second Amendment) Regulations, 2026.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)
Regulations, 2016, in regulation 27, after sub-regulation (1), the following proviso shall be inserted, namely: -
“Provided that, in respect of a corporate debtor classified as a micro, small or medium enterprise under sub-section (1)
of section 7 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), the resolution
professional shall appoint one set of registered valuers, unless the committee decides, for reasons to be recorded in
writing, to appoint two sets of registered valuers.”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./96/2026-27]
Note : The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)
Regulations, 2016 were published vide notification No. IBBI/2016- 17/GN/REG004, dated 30th November,
2016 in the Gazette of India, Extraordinary, Part III, Section 4, No. 432 on 30th November, 2016 and were
last amended by the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate
Persons) (Amendment) Regulations, 2026 published vide notification No. IBBI/2025-26/GN/REG135, dated
the 25th February, 2026 in the Gazette of India, Extraordinary, Part III, Section 4, No.143 on 25th February,
2026.
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.