**Executive Summary**
This document is the "Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025." It amends the 2016 regulations concerning insolvency professionals. The regulations were published on November 21, 2025, and take effect on the date of publication in the Official Gazette.
**Key Points / Main Content**
* **Title:** Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025
* **Effective Date:** Date of publication in the Official Gazette
* **Amendment to Assignment Limits for Individual Insolvency Professionals:**
* An insolvency professional who is not an insolvency professional entity cannot hold more than ten assignments at a time as an interim resolution professional, resolution professional, and liquidator.
* Of these ten, no more than three can have admitted claims exceeding one thousand crore rupees each.
* If an individual already holds more than the limit upon commencement of these amended regulations, they cannot accept new assignments until they are within the limit.
* **Amendments to Code of Conduct for Insolvency Professionals:**
* In the First Schedule, the words “the approval of the Board” are replaced with "the prior approval of the Adjudicating Authority."
* Clause 22 in the First Schedule is omitted.
**Impact Analysis**
**Stakeholder: Individual Insolvency Professionals**
* **Impact:** The amendment limits the number of assignments an individual insolvency professional can handle simultaneously and sets a threshold for the admitted claims value of these assignments. The amendment also changes approval requirements from the board to the adjudicating authority.
* **Action Required:** Comply with the new assignment limits and seek prior approval from the Adjudicating Authority when necessary, adhering to the updated Code of Conduct.
Key Entities Referenced
Insolvency and Bankruptcy Code, 2016: The primary legislation enabling the regulations; its sections 196, 207, 208, and 240 provide the powers exercised to create this amendment.
Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016: The original regulations being amended by this notification. These regulations govern insolvency professionals.
Insolvency and Bankruptcy Board of India: The regulatory body responsible for issuing and amending the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations.
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025: The amended regulations outlining changes to the assignment limits for insolvency professionals and conduct standards.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-21112025-267888
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ऄसाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 753] नइ ददल्ली, िुिवार, नवम्ब र 21, 2025/कार्ततक 30, 1947
No. 753] NEW DELHI, FRIDAY, NOVEMBER 21, 2025/KARTIKA 30, 1947
भारतीय ददवाला और िोधन ऄक्षमता बोड ड
ऄजधसचू ना
नइ ददल्ली, 20 नवम्बर 2025
भारतीय ददवाला और िोधन ऄक्षमता बोडड (ददवाला व्यावसाजयक) (दसू रा सिं ोधन)
जवजनयम, 2025
फा. स.ं अइ.बी.बी.अइ./2025-26/िी.एन./अर.इ.िी.132.—भारतीय ददवाला और िोधन ऄक्षमता बोड,ड
ददवाला और िोधन ऄक्षमता संजिता, 2016 (2016 का 31) की धारा 240 के साथ पठित धारा 196, धारा 207 और
धारा 208 द्वारा प्रदत्त िजियों का प्रयोग करत े हुए, भारतीय ददवाला और िोधन ऄक्षमता बोडड (ददवाला व्यावसाजयक)
जवजनयम, 2016 का और संिोधन करने के जलए जनम्नजलजखत जवजनयम बनाता ि,ै ऄथातड ्: -
1. (1) आन जवजनयमों का संजक्षप्त नाम भारतीय ददवाला और िोधन ऄक्षमता बोडड (ददवाला व्यावसाजयक) (दसू रा
संिोधन) जवजनयम, 2025 ि ै।
(2) य े रािपत्र म ेंप्रकािन की तारीख को प्रवृत्त िोंग े ।
2. भारतीय ददवाला और िोधन ऄक्षमता बोडड (ददवाला व्यावसाजयक) जवजनयम, 2016(जिन्ि ें आसमें आसके पश्चात ्
मूल जवजनयम किा गया ि)ै के जवजनयम 7क के पश्चात् जनम्नजलजखत जवजनयम ऄतं ःस्ट्थाजपत दकया िाएगा, ऄथाडत्:-
“ऄसाआनमटें की सख्ं या
7ख. कोइ ऐसा ददवाला व्यावसाजयक, िो दक एक ददवाला व्यावसाजयक संस्ट्था निीं ि,ै दकसी कारपोरेट
ददवाला समाधान प्रदिया में ऄंतठरम समाधान व्यावसाजयक और समाधान व्यावसाजयक के रूप म ें तथा दकसी
7781 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
समापन प्रदिया में पठरसमापक के रूप म ें दकसी भी समय, कुल जमलाकर दस ऄसाआनमेंट स े ऄजधक निीं रखेगा,
जिनमें से तीन से ऄनजधक ऄसाआनमेंट में प्रत्येक में एक ििार करोड़ रुपए स ेऄजधक के स्ट्वीकृत दावें िोंगे:
परन्त ु ऐसा कोइ ददवाला व्यावसाजयक, िो दक एक ददवाला व्यावसाजयक संस्ट्था निीं ि,ै िो भारतीय
ददवाला और िोधन ऄक्षमता बोडड(ददवाला व्यावसाजयक) (दसू रा संिोधन) जवजनयम, 2025 के प्रारंभ िोने की
तारीख को आस जवजनयम म ें जवजनर्ददष्ट सीमा स े ऄजधक ऐस े ऄसाआनमेंट पिल े से धारण कर रिा ि,ै तब तक ऐसा
कोइ नया ऄसाआनमेंट स्ट्वीकार निीं करेगा िब तक ईसकी चालू ऄसाआनमेंट की संख्या आस जवजनयम में जवजनर्ददष्ट
सीमा से नीचे निीं रि िाती ि ै।”
3. मूल जवजनयमों में, पिली ऄनुसचू ी में जवजनर्ददष्ट ददवाला व्यावसाजयकों के जलए अचार संजिता में, -
(i) “बोडड का ऄनुमोदन” िब्दों के स्ट्थान पर “न्यायजनणाडयक प्राजधकारी का पूवड ऄनुमोदन” िब्द रख ेिाएंग े
(ii) खंड 22 के स्ट्पष्टीकरण का लोप दकया िाएगा ।
रजव जमत्तल, ऄध्यक्ष
[जवज्ञापन-III/4/ऄसा./488/2025-26]
ठटप्पण : भारतीय ददवाला और िोधन ऄक्षमता बोडड (ददवाला व्यावसाजयक) जवजनयम, 2016, भारत के रािपत्र, ऄसाधारण,
भाग III, खंड 4, सं. 424, तारीख 23 नवम्बर, 2016 में ऄजधसूचना सं. अइ.बी.बी.अइ./2016-
17/िी.एन./अर.इ.िी.003, तारीख 23 नवम्बर, 2016 द्वारा प्रकाजित दकए गए थे और ईनमें ऄंजतम संिोधन
भारत के रािपत्र, ऄसाधारण, भाग III, खंड 4, सं. 276, तारीख 3 ऄप्रैल, 2025 में ऄजधसूचना
सं. अइ.बी.बी.अइ./2025-26/िी.एन./अर.इ.िी.123, तारीख 3 ऄप्रैल, 2025 द्वारा प्रकाजित भारतीय ददवाला
और िोधन ऄक्षमता बोडड (ददवाला व्यावसाजयक) (संिोधन) जवजनयम, 2025 द्वारा दकए गए ।
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 20th November, 2025
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025
F. No. IBBI/2025-26/GN/REG132.—In exercise of the powers conferred by section 196, sections 207 and
208 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 Professionals) Regulations, 2016, namely: -
1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency
Professionals) (Second Amendment) Regulations, 2025.
(2) They shall come into force on the date of publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, (hereinafter
referred to as „the principal regulations‟), after regulation 7A, the following regulation shall be inserted, namely: -
“Number of Assignments.
7B. An insolvency professional who is not an insolvency professional entity, shall not at any point of
time, have more than ten assignments in aggregate as interim resolution professional and resolution
professional in a corporate insolvency resolution process and as a liquidator in a liquidation process, of
which not more than three assignments shall have admitted claims exceeding one thousand crore rupees
each:
Provided that an insolvency professional who is not an insolvency professional entity, already holding
more such assignments than the limit specified in this regulation on the date of commencement of
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment)
Regulations, 2025, shall not accept any such new assignment until the number of his ongoing
assignments falls below the limit specified in this regulation.”[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 3
3. In the principal regulations, in the Code of Conduct for Insolvency Professionals specified in the First Schedule,
(i) in clause 6, for the words “the approval of the Board”, the words “the prior approval of the Adjudicating
Authority” shall be substituted.
(ii) the clarification to clause 22 shall be omitted.
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./488/2025-26]
Note : The Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 were published
vide notification No. IBBI/2016-17/GN/REG003 dated 23rd November, 2016 in the Gazette of India,
Extraordinary, Part III, Section 4, No. 424 on 23rd November, 2016 and were last amended by the Insolvency
and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2025 published vide
notification No. IBBI/2025-26/GN/REG123, dated 03rd April, 2025 in the Gazette of India, Extraordinary,
Part III, Section 4, No. 276 on 03rd April, 2025.
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.