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Date: 2025-04-03 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by sections 196 and 207 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

Issued by Insolvency and Bankruptcy Board of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The gazette notification introduces the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2025.
  • These regulations amend the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.
  • The amendment changes the word 'twelve' to 'twenty-four' in clause (a) of regulation 5 of the 2016 regulations.

Key Changes

  • Regulation 5(a) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 is amended.
  • The word 'twelve' in Regulation 5(a) is replaced with the word 'twenty-four'.
  • The regulations come into effect on the date of their publication in the Official Gazette, which is April 3, 2025.

Impact Analysis

Insolvency Professionals

  • Action Item: Review the specific context of Regulation 5(a) in the 2016 regulations to fully understand the impact of this amendment and ensure compliance.

Insolvency and Bankruptcy Board of India (IBBI)

  • Action Item: Issue clarifying circulars or guidelines explaining the practical application of the amendment.

Corporate Debtors and Creditors

  • Action Item: Stay informed about the changes and seek clarification from Insolvency Professionals or legal counsel if needed.

Key Entities Referenced

Insolvency and Bankruptcy Board of India (IBBI): The regulatory body responsible for implementing and overseeing the Insolvency and Bankruptcy Code, 2016 in India. Insolvency Professionals: Professionals registered with the IBBI who manage the insolvency resolution process. Insolvency and Bankruptcy Code, 2016: The main law governing insolvency and bankruptcy proceedings in India. Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016: Regulations laid down by IBBI governing Insolvency Professionals. Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2025: The current amendment to the 2016 regulations.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-04042025-262278 xxxGIDHxxx CG-DL-E-04042025-262278 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 276] नई दिल्ली, बिृ स्ट्प जतवार, अप्रैल 3, 2025/ चत्रै 13, 1947 No. 276] NEW DELHI, THURSDAY, APRIL 3, 2025/ CHAITRA 13, 1947 भारतीय दिवाला और िोधन अक्षमता बोड ड अजधसचू ना नई दिल्ली, 3 अप्रैल, 2025 भारतीय दिवाला और िोधन अक्षमता बोड ड (दिवाला व्यावसाजयक) (सिं ोधन) जवजनयम, 2025 फा. स.ं आई.बी.बी.आई./2025-26/िी.एन./आर.ई.िी.123.—भारतीय दिवाला और िोधन अक्षमता बोडड, दिवाला और िोधन अक्षमता संजिता, 2016 (2016 का 31) की धारा 240 के साथ पठित धारा 196 तथा धारा 207 द्वारा प्रित्त िजियों का प्रयोग करते हुए, भारतीय दिवाला और िोधन अक्षमता बोडड (दिवाला व्यावसाजयक) जवजनयमन, 2016 का और संिोधन करन े के जलए जनम्नजलजखत जवजनयम बनाता ि,ै अथाडत्: - 1. (1) इन जवजनयमों का संजक्षप्त नाम भारतीय दिवाला और िोधन अक्षमता बोडड (दिवाला व्यावसाजयक) (संिोधन) जवजनयम, 2025 ि ै । (2) य े रािपत्र में प्रकािन की तारीख को प्रवृत्त िोंगे । 2. भारतीय दिवाला और िोधन अक्षमता बोडड (दिवाला व्यावसाजयक) जवजनयमन, 2016 के जवजनयम 5 के खंड (क) में “बारि” िब्ि के स्ट्थान पर “चौबीस” िब्ि रखा िाएगा। रजव जमत्तल, अध्यक्ष [जवज्ञापन-III/4/असा./09/2025-26] ठिप्पण: भारतीय दिवाला और िोधन अक्षमता बोडड (दिवाला व्यावसाजयक) जवजनयमन, 2016, भारत के रािपत्र, 2348 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] असाधारण, भाग 3, खंड 4, सं. 424, तारीख 23 नवम्बर, 2016 में अजधसूचना सं. आई.बी.बी.आई./2016- 17/िी.एन./आर.ई.िी.003, तारीख 23 नवम्बर, 2016 द्वारा प्रकाजित दकए गए थे और उनमें अंजतम संिोधन भारत के रािपत्र, असाधारण, भाग 3, खंड 4, सं. 74, तारीख 31 िनवरी, 2024 में अजधसूचना सं. आई.बी.बी.आई./2023-24/िी.एन./आर.ई.िी.110, तारीख 31 िनवरी, 2024 द्वारा प्रकाजित भारतीय दिवाला और िोधन अक्षमता बोडड (दिवाला व्यावसाजयक) (संिोधन) जवजनयम, 2024 द्वारा दकए गए । INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 3rd April, 2025 Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2025 F. No. IBBI/2025-26/GN/REG123.— In exercise of the powers conferred by sections 196 and 207 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) (Amendment) Regulations, 2025. (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 Professionals) Regulations, 2016, in regulation 5, in clause (a), for the word “twelve”, the words and the mark “twenty-four” shall be substituted. RAVI MITAL, Chairperson [ADVT.-III/4/Exty./09/2025-26] 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, 2024 published vide notification No. IBBI/2023-24/GN/REG110, dated 31st January, 2024 in the Gazette of India, Extraordinary, Part III, Section 4, No. 74 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.

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