The key changes include enhanced disclosure requirements for the Resolution Professional (RP), who must now include details of all identified avoidance or fraudulent transactions in the Information Memorandum (IM) and regularly update the Committee of Creditors (CoC). Also, the resolution plans cannot assign avoidance or fraudulent transactions unless these were fully disclosed in the IM and communicated to all prospective resolution applicants before the resolution plan submission deadline. These are intended to facilitate informed decision-making by both the CoC and resolution applicants.
(IBBI Notification Dated 04/07/2025, Press Release Dated 08/07/2025)