The Insolvency and Bankruptcy Board of India (IBBI) on April 15, 2026, issued the Discussion paper on proposed amendments to the IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019.
The following has been stated:
• The key proposals include: removal of interim moratorium, extension of examination timeline to 21 days, mandatory creditor meetings, and consequences for non-submission of repayment plans.
• A major change is the introduction of mandatory comprehensive disclosure of all assets (including digital assets, foreign investments, beneficial ownership, etc.) to improve transparency.
• It also proposes coordination between resolution professionals/trustees of personal guarantors and corporate debtors for asset transfers under section 28A, subject to creditor approval and disclosure. Additionally, procedural forms will no longer be embedded in regulations but issued via circulars for flexibility.
• Similar amendments are proposed in bankruptcy regulations, including provisions relating to fraudulent transactions (new section 164A).
• Public comments have been invited till April 28, 2026.
