IBBI Regulations Amendment Notification Dated

Amendments to IBBI Insolvency Resolution for Personal Guarantors Regulations: The notification introduces a new Regulation 17B, which addresses scenarios where no repayment plan is submitted under Section 105 of the Insolvency and Bankruptcy Code. In such cases, the resolution professional, with creditor approval, is now required to approach the Adjudicating Authority to report the absence of a repayment plan and seek suitable directions. It aims to ensure procedural clarity in instances of non-compliance or inaction by the debtor during the insolvency resolution process. 

(Link: IBBI Notification Dated 19/05/2025)

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top