Home India Insolvency and Bankruptcy Board of India In exercise of the powers conferred under sections 196, 217,...
Date: 29-Jan-2025 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred under sections 196, 217, 218, 219, 220 read with section 240 of the Insolvency and Bankruptcy Code

Issued by Insolvency and Bankruptcy Board of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The gazette notification pertains to the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2025. It amends the 2017 regulations related to inspection and investigation processes under the Insolvency and Bankruptcy Code, 2016.
  • The amendment clarifies the meaning of 'associated' in the context of conducting investigations or inspections.

Key Changes

  • The Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 are amended by inserting an explanation in regulation 2, sub-regulation (1), clause (c), after the proviso.
  • The explanation clarifies that 'associated' means involvement in the conduct of investigation or inspection, consideration of the investigation or inspection report, or issuance of show cause notice.
  • The regulations came into force on January 29, 2025, the date of their publication in the Official Gazette.

Impact Analysis

Stakeholders

  • Other stakeholders: Any individuals or entities involved in or connected to the inspection or investigation process under the Insolvency and Bankruptcy Code.

Suggested Action Items

  • Review and update internal compliance procedures to align with the amended regulations.

Key Entities Referenced

Insolvency and Bankruptcy Board of India (IBBI): The regulatory body responsible for implementing and enforcing the Insolvency and Bankruptcy Code, 2016 in India. Insolvency and Bankruptcy Code, 2016: The primary legislation governing insolvency and bankruptcy proceedings in India. Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017: The regulations governing the inspection and investigation processes conducted by the IBBI. Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2024: Previous amendment to the 2017 regulations.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-29012025-260596 xxxGIDHxxx CG-DL-E-29012025-260596 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 79] नई दिल्ली, बुधवार, िनवरी 29, 2025/माघ 9, 1946 No. 79] NEW DELHI, WEDNESDAY, JANUARY 29, 2025/MAGHA 9, 1946 भारतीय दिवाला और िोधन अक्षमता बोड ड अजधसचू ना नई दिल्ली, 28 िनवरी, 2025 भारतीय दिवाला और िोधन अक्षमता बोडड (जनरीक्षण और अन्वषे ण) (सिं ोधन) जवजनयम, 2025 फा. स.ं आई.बी.बी.आई./2024-25/िी.एन./आर.ई.िी.118.—भारतीय दिवाला और िोधन अक्षमता बोडड, दिवाला और िोधन अक्षमता संजिता, 2016 (2016 का 31) की धारा 240 के साथ पठित धारा 196, 217, 218, 219 और 220 द्वारा प्रित्त िजियों का प्रयोग करत े हुए, भारतीय दिवाला और िोधन अक्षमता बोडड (जनरीक्षण और अन्वेषण) जवजनयम, 2017 का और संिोधन करने के जलए जनम्नजलजखत जवजनयम बनाता ि,ै अथातड ्: - 1. (1) इन जवजनयमों का संजक्षप्त नाम भारतीय दिवाला और िोधन अक्षमता बोडड (जनरीक्षण और अन्वेषण) (संिोधन) जवजनयम, 2025 ि ै। (2) य ेरािपत्र में उनके प्रकािन की तारीख को प्रवृत्त िोंग े। 2. भारतीय दिवाला और िोधन अक्षमता बोडड (जनरीक्षण और अन्वेषण) जवजनयम, 2017 के जवजनयम 2 के उप- जवजनयम (1) के खंड (ग) में, परन्तुक के पश्चात् , जनम्नजलजखत स्ट्पष्टीकरण अतं ःस्ट्थाजपत दकया िाएगा, अथाडत्:- 742 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] “स्ट्पष्टीकरणः यि स्ट्पष्ट दकया िाता ि ै दक “सिबद्ध” से अन्वषे ण या जनरीक्षण का संचालन करने या अन्वेषण या जनरीक्षण ठरपोर्ड पर जवचार करने या कारण बताओ नोठर्स िारी करन े में अंतवडजलत िोना अजभप्रेत िोगा ।” रजव जमत्तल, अध्यक्ष [जवज्ञापन-III/4/असा./936/2024-25] ठर्प्पण: भारतीय दिवाला और िोधन अक्षमता बोड ड (जनरीक्षण और अन्वेषण) जवजनयम, 2017, भारत के रािपत्र, असाधारण, भाग III, खंड 4 स.ं 239, तारीख 12 िनू , 2017 म ें अजधसूचना स.ं आई.बी.बी.आई./2017- 18/िी.एन./आर.ई.िी.011 द्वारा तारीख 12 िनू , 2017 को प्रकाजित दकए गए थ ेऔर उनम ेंअंजतम संिोधन भारत का रािपत्र, भाग III, खडं 4, स.ं 617, तारीख 13 अगस्ट्त, 2024 म ें अजधसूचना स.ं आई.बी.बी.आई./ 2024- 25/िी.एन./आर.ई.िी./115, तारीख 13 अगस्ट्त, 2024 द्वारा प्रकाजित भारतीय दिवाला और िोधन अक्षमता बोड ड (जनरीक्षण और अन्वेषण) (संिोधन) जवजनयम, 2024 द्वारा दकए गए थ े। INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 28th January, 2025 Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2025. F. No. IBBI/2024-25/GN/REG118.—In exercise of the powers conferred under sections 196, 217, 218, 219, 220 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 further to amend the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017, namely: - 1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (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 (Inspection and Investigation) Regulations, 2017, in regulation 2, in sub-regulation (1), in clause (c), after the proviso, the following explanation shall be inserted, namely:- “Explanation: It is hereby clarified that “associated” shall mean involvement in the conduct of investigation or inspection or consideration of the investigation or inspection report or issuance of show cause notice;” RAVI MITAL, Chairperson [ADVT.-III/4/Exty./936/2024-25] Note: The Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 were published vide Notification No. IBBI/2017-18/GN/REG011 on 12th June, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 239 dated 12th June, 2017 and were last amended by the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2024 published vide Notification No. IBBI/2024- 25/GN/REG115, dated the 13th August 2024 in the Gazette of India, Extraordinary, Part III, Section 4, No. 617 on 13th August 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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