The Insolvency and Bankruptcy Board of India (IBBI) on May 13, 2026, issued the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2026, to further amend the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016.
The following has been stated:
• In regulation 5, in sub-regulation (1), in clause (b), the word “and” occurring at the end, shall be omitted;
• In regulation 5, sub-regulation (1), in clause (c), for the punctuation mark “:” occurring at the end, the words and punctuation mark “; and” shall be substituted;
• In regulation 5, in sub-regulation (1), after clause (c) the following clause shall be inserted, namely: - “(d) nominee director.”;
•In regulation 5A, after sub-regulation (6), the following sub-regulations shall be inserted, namely: - “(6A) For the purpose of obtaining prior approval of the Board under sub-regulation (6) for appointment or renewal of appointment of the managing director, an insolvency professional agency shall forward not less than two names to the Board, at least one month prior to the expiry of the tenure of the existing managing director.”
Please refer to the document attached below for more details.
[F. No. IBBI/2026-27/GN/REG/140]
