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The Insolvency and Bankruptcy Board of India ("IBBI") vide notification dated 14.10.2025 has notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Sixth Amendment) Regulations, 20251 , amending Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 ("CIRP Regulations") introducing significant changes to the Corporate Insolvency Resolution Process ("CIRP") framework.
These amendments are as follows:
- Deletion of Regulation 39C which dealt with assessment of sale as a going concern that allowed the Committee of Creditors ("CoC"), while approving a resolution plan or deciding to liquidate under sections 30 or 33 of the Insolvency and Bankruptcy Code, 2016 ("IBC"), to recommend the liquidator to explore the sale of the corporate debtor or its business as a going concern. The CoC was required to identify and group assets and liabilities to be sold as a going concern, and the Resolution Professional was mandated to submit such recommendations to the Adjudicating Authority along with the approval or decision of the CoC.
- Omission of Regulation 39D(b) which referred to the period, if any, used for sale under clauses (e) and (f) of Regulation 32 of the Liquidation Process Regulations and pertained to the fees payable to the liquidator for such sale, has been omitted.
The amendments took effect from the date of their publication in the Official Gazette on 14th October 2025.
Footnote
1 https://www.ibbi.gov.in/uploads/legalframwork/f006fdcfd9cc35f461e320375809cbf3.pdf
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