India IBBI

IBBI Discussion Paper on CIIRP Regulations 2026

The Insolvency and Bankruptcy Board of India (IBBI) has issued a discussion paper proposing the Insolvency and Bankruptcy Board of India (Creditor-Initiated Insolvency Resolution Process) Regulations, 2026, to operationalise the CIIRP framework introduced under the Insolvency and Bankruptcy Code (Amendment) Act, 2026. The proposed regulations establish the procedural architecture for a creditor-initiated insolvency resolution process, including initiation thresholds, meeting requirements, creditor approval conditions, resolution professional appointment, and public announcement procedures. The Board invites public comments on the draft regulations.

Discussion Paper on Proposed Amendments to Voluntary Liquidation Process Regulations, 2017

The IBBI has released a Discussion Paper proposing amendments to the Voluntary Liquidation Process Regulations, 2017, in response to the Insolvency and Bankruptcy Code (Amendment) Act, 2026. The proposed changes address five areas: claims management with a seven-day communication timeline for liquidators, introduction of a new termination mechanism for voluntary liquidation proceedings under Regulation 42, decoupling of forms from the Regulations for faster updates, and consequential amendments arising from the omission of sections 38-42 of the Code.

Discussion Paper: Proposed Amendments to IBBI (Liquidation Process) Regulations, 2016

The Insolvency and Bankruptcy Board of India has released a discussion paper proposing comprehensive amendments to the IBBI (Liquidation Process) Regulations, 2016, in pursuance of the Insolvency and Bankruptcy Code (Amendment) Act, 2026 (receiving presidential assent on 06 April 2026). Key changes include replacing the Stakeholders' Consultation Committee with a statutory Committee of Creditors (CoC) model, establishing a time-bound 180-day liquidation framework, rationalising the liquidator fee structure, carrying forward verified claims from CIRP, aligning liquidator decisions with CoC oversight, introducing a formal liquidator replacement mechanism, and facilitating guarantor asset transfers under the new Section 28A framework.