The Insolvency and Bankruptcy Board of India (IBBI) on April 15, 2026, issued Discussion Paper on amendments to IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017.
The proposed amendments in the Insolvency and Bankruptcy Code (Amendment) Act, 2026, which received Presidential assent on April 6, 2026. These changes necessitate updates to the existing grievance and complaint handling framework under the Insolvency and Bankruptcy Board of India (IBBI). A key objective is to align the regulations with the revised provisions of the Code.
A major change introduced by the Amendment Act is the inclusion of a unified definition of “service provider” under Section 3 of the Code. This definition now covers insolvency professionals, insolvency professional agencies, information utilities, and other notified entities involved in insolvency processes. Consequently, amendments to Section 217 replace specific references to these entities with the broader term “service provider,” ensuring uniform applicability across all such participants.
In line with these legislative changes, it is proposed to update the IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017 to incorporate the revised definition of “service provider.” Additionally, to improve operational flexibility and reduce regulatory rigidity, it is proposed that the complaint filing form be issued via circulars instead of being embedded within the regulations, while keeping its content unchanged.
The IBBI has released draft amendments and invited public comments on the proposals. After considering stakeholder feedback, the Board intends to finalize the regulations under the relevant provisions of the Code. The deadline for submitting comments is April 28, 2026, providing stakeholders an opportunity to contribute to the regulatory refinement process.
