The Insolvency and Bankruptcy Board of India (IBBI) on May 19, 2026, issued the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) (Second Amendment) Regulations, 2026, to further amend the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021.
In regulation 38, the following has been substituted: - “38. Appointment of Registered Valuers
The resolution professional shall, within three days of appointment, appoint a set of registered valuers to determine the fair value and liquidation value of the corporate debtor, unless the committee decides otherwise, for reasons recorded in writing, and directs the appointment of two sets of registered valuers. The following persons shall not be eligible for appointment as registered valuers:
(a) a related party of the corporate debtor;
(b) an auditor of the corporate debtor at any time during the five years preceding the commencement date of the pre-packaged insolvency resolution process;
(c) a partner or director of the insolvency professional entity in which the resolution professional is a partner or director; or
(d) a relative of the resolution professional, or of a partner or director of the insolvency professional entity in which the resolution professional is a partner or director.”
In Regulation 39 of the principal regulations, sub-regulation (1):
(i) In clause (a), the words “within each set” shall be omitted;
(ii) In clause (a), the words “for that set” shall also be omitted;
It shall come into force on May 19, 2026.
Please refer to the document attached below for more details.
[F. No. IBBI/2026-27/GN/REG143]
