The Insolvency and Bankruptcy Board of India (IBBI) on April 15, 2026, issued a Discussion Paper on amendments to CIRP Regulations, 2016, in pursuance of the Insolvency and Bankruptcy Code (Amendment) Act, 2026.
The following has been stated: -
•The discussion paper proposes amendments to the CIRP Regulations, 2016, following the IBC (Amendment) Act, 2026, aimed at addressing delays, creditor rights issues, and improving overall efficiency.
•The Amendment Act, effective April 6, 2026, introduces changes across insolvency processes, including CIRP, liquidation, pre-pack, and frameworks for personal guarantors.
•It reflects intent to strengthen regulation by expanding the powers of IBBI and incorporating both clarificatory and substantive changes.
•Amendments are proposed only where necessary, avoiding duplication where existing regulations already cover the updated provisions.
•Key areas include claim verification, withdrawal process, CoC decisions, asset transfers, resolution plan implementation, guarantees, and dissolution conditions.
•Public comments on the proposed amendments are invited, with the deadline set as April 28, 2026.
The detailed notification is given in the document below.
