IBBI
IBBI Notifies New Valuation Norms For MSME Liquidation Under IBC, Allows Appointment Of Two Valuers
The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2026, amending the valuation framework applicable to the liquidation of MSME corporate debtors. The amendment provides that where a corporate debtor is classified as a micro, small or medium enterprise under Section 7(1) of the Micro, Small and Medium Enterprises Development Act, 2006, the liquidator shall appoint one registered valuer...
Resolution Professionals Must Appoint Valuers Within 3 Days Under Amended IBBI Pre-Packaged Insolvency Norms
The Insolvency and Bankruptcy Board of India (IBBI) has amended its pre-packaged insolvency rules to require resolution professionals to appoint registered valuers within three days of taking charge, while allowing the consultation committee to require two sets of valuers if reasons are recorded in writing. The changes have been introduced through the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) (Second Amendment) Regulations, 2026, notified on May 19. ...
To Cut Delays In Insolvency Professional Appointments, IBBI Seeks Applications For Empanelment
To cut delays in the appointment of insolvency professionals, the Insolvency and Bankruptcy Board of India (IBBI) has laid down a framework for preparing a panel of insolvency professionals for appointments by the National Company Law Tribunal (NCLT) and Debt Recovery Tribunal (DRT), with unjustified refusal by empanelled professionals to take up assignments attracting a six-month exclusion. The IBBI on May 18 issued the Insolvency Professionals to act as Interim Resolution Professionals,...
IBBI Amends Regulations To Appoint Its Nominee Directors On Insolvency Professional Agency Governing Boards
The Insolvency and Bankruptcy Board of India (IBBI) has amended its regulations to provide for appointment of its nominee director on the governing board of an insolvency professional agency (IPA), with the nominee enjoying the same status, rights, duties, powers and responsibilities as other directors. The change has been introduced through amendments to the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016. ...
IBBI Extends Deadline For Public Comments On Proposed IBC Regulation Changes To May 5
The Insolvency and Bankruptcy Board of India (IBBI) has extended the deadline for public comments on nine discussion papers proposing changes across multiple regulations under the Insolvency and Bankruptcy Code, giving stakeholders additional time to weigh in on the proposed framework. In a press release issued on April 28, the regulator said the last date for submitting comments, originally set for April 28, has now been pushed to May 5. The consultation, opened on April 15, spans a proposed...
IBBI Imposes ₹5 Lakh Penalty On IRP In Bhasin Infotech CIRP For Not Seeking NCLAT Clarification
The Insolvency and Bankruptcy Board of India's (IBBI) Disciplinary Committee (DC) on 21 April, imposed a penalty of Rs 5 lakh on Insolvency Professional Mukesh Gupta for lapses in diligence during the Corporate Insolvency Resolution Process (CIRP) of Bhasin Infotech and Infrastructure Pvt. Ltd. Whole Time Member Sandip Garg, passing the order, held that Gupta failed to promptly seek clarification from the National Company Law Appellate Tribunal (NCLAT) on the scope of his authority after an...
IBBI Mandates International Valuation Standards for All IBC Valuations
The Insolvency and Bankruptcy Board of India has issued a circular notifying the International Valuation Standards as the applicable standards for valuations conducted under the Insolvency and Bankruptcy Code, 2016, until further orders. The circular states that one of the objectives of the Code is the maximisation of value of assets of the corporate debtor in a time-bound manner, and that valuation serves as a critical input for evaluation of resolution plans and facilitates informed...
IBBI Introduces Electronic Forms To Monitor Insolvency Processes Of Personal Guarantors
The Insolvency and Bankruptcy Board of India (IBBI) on March 6, 2026, introduced a set of electronic forms to monitor insolvency resolution processes involving personal guarantors to corporate debtors under the Insolvency and Bankruptcy Code, 2016.As per the circular, resolution professionals currently submit periodic updates regarding such processes through emails which, the Board noted is “time-consuming and inefficient”. To address this, the IBBI has developed a set of electronic forms which,...
IBBI Suspends Insolvency Professional For 2 Years For Operating CIRP Account After Liquidation Commenced
The Insolvency and Bankruptcy Board of India's (IBBI) Disciplinary Committee has recently suspended the registration of insolvency professional Anil Anchalia for two years for continuing to operate the Corporate Insolvency Resolution Process (CIRP) bank account of Gemus Engineering Limited after the commencement of liquidation. The CIRP of Gemus Engineering Limited commenced on April 30, 2024 pursuant to an order of the National Company Law Tribunal (NCLT), Kolkata Bench, which appointed Arun...
IBBI Suspends Byju's Former Resolution Professional Pankaj Srivastava For Three Years
The Disciplinary Committee of the Insolvency and Bankruptcy Board of India has suspended the registration of insolvency professional Pankaj Srivastava for three years, holding that he improperly reconstituted the Committee of Creditors in the insolvency of Think and Learn Private Limited, the parent company of the ed-tech firm Byju's, and misled the Adjudicating Authority. In its order dated February 24, 2026, the Committee, comprising Whole Time Members Bhushan Kumar Sinha and Jayanti...
IBBI Suspends Insolvency Professional's AFA For Six Months Over CIRP Without Valid Authorisation
The Insolvency and Bankruptcy Board of India (IBBI) on 19 February suspended the Authorisation for Assignment (AFA) of insolvency professional Bhim Sain Goyal for six months after finding that he undertook a Corporate Insolvency Resolution Process (CIRP) assignment without holding a valid authorisation. The matter arose from the CIRP of Suich Industries Limited, admitted by the NCLT, New Delhi Bench‑V on 19 November 2024. Goyal was appointed as the Interim Resolution Professional (IRP) through...