IBBI Amends CIRP Regulations: Omits Regulation 39C, Modifies Provisions Under Regulation 39D [Read Notification]
IBBI has omitted Regulation 39C and amended Regulation 39D of the CIRP Regulations, 2016 to streamline and simplify the corporate insolvency resolution process.
IBBI - CIRP Regulations - Omits Regulation 39C - Modifies Provisions - Regulation 39D - taxscan
IBBI - CIRP Regulations - Omits Regulation 39C - Modifies Provisions - Regulation 39D - taxscan
The Insolvency and Bankruptcy Board of India (IBBI) issued Notification No. IBBI/2025-26/GN/REG130 dated October 14, 2025, introducing the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Sixth Amendment) Regulations, 2025. The new regulations took effect immediately upon publication in the Official Gazette.
Main Amendments
(a) Omission of Regulation 39C:
The amendment omits Regulation 39C of the CIRP Regulations, 2016. This regulation earlier dealt with the process of inviting resolution plans and managing distributions when liquidation followed due to non-approval of a resolution plan. Its deletion simplifies the overall resolution process and eliminates overlap with other provisions of the Code.
(b) Modification of Regulation 39D:
In Regulation 39D, which outlines conditions related to resolution plans and their consideration:
- In clause (a), the word “and” has been inserted after the reference to the Companies Act, 2013 to enhance clarity in the provision.
- Clause (b) of Regulation 39D has been deleted to streamline the text and remove unnecessary procedural complexity.
(c) Amendment to Form H:
In Form H, which is used for the submission of the compliance certificate by the resolution professional, point (b) in paragraph 15 has been omitted.
The CIRP Regulations, first issued in November 2016, were last amended in July 2025 through the Fifth Amendment Regulations, before this latest revision.
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