The Insolvency and Bankruptcy Board of India (IBBI) on June 02, 2026, issued the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) (Third Amendment) Regulations, 2026 to further amend the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021.
The following amendments have been stated:
• In the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021, (hereinafter referred to as ‘the principal regulations’), in regulation 2, in sub-regulation (1),
(a) in clause (h), for the words “a Form specified in the Schedule”, the words “such format as notified by the Board” shall be substituted.
(b) clause (o) shall be omitted.
• In the principal regulations, in sub-regulation (1) of regulation 7, for the words “Form P1”, the words “such format as notified by the Board” shall be substituted.
• In the principal regulations, in regulation 14,
(a) in sub-regulation (3), for the words “Form P2”, the words “such format as notified by the Board” shall be substituted.
(b) in sub-regulation (5), for the words “Form P3”, the words “such format as notified by the Board” shall be substituted.
(c) in sub-regulation (7), for the words “Form P4”, the words “such format as notified by the Board” shall be substituted.
• In the principal regulations, in regulation 15,
(a) for the words “Form P2”, the words “such form as referred in Regulation 14” shall be substituted.
(b) in clauses (iii) and (vi), for the words “Form P5”, the words “such format as notified by the Board” shall be substituted.
• In the principal regulations, in regulation 16,
(a) in sub-regulation (1), for the words “Form P6”, the words “such format as notified by the Board” shall be substituted.
(b) in sub-regulation (2), for the words “Form P7”, the words “such format as notified by the Board” shall be substituted. 7. In the principal regulations, in regulation 17, for the words “Form P8”, the words “such format as notified by the Board” shall be substituted.
• In the principal regulations, for regulation 18, the following shall be substituted namely:-
“18. Information and documents to be furnished by the applicant. For the purposes of sub-section (3) of section 54C of the Code, the corporate applicant shall, along with the application, furnish the following information and documents:––
(1) a copy of the declaration made by the majority of the directors or partners, as the case may be, in such format as notified by the Board;
(2) a copy of the declaration, special resolution or resolution, as the case may be, for initiating pre-packaged insolvency resolution process in terms of section 54A;
(3) proof of approval from financial creditors, not being related parties, representing not less than fifty-one per cent. in value of the financial debt;
(4) details of insolvency professional as follows: (a) the written consent of the proposed resolution professional in such format as notified by the Board; (b) the report of the resolution professional referred to in clause (a) of sub-section (1) of section 54B of the Code, prepared in such format as notified by the Board.
(5) audited financial statements of the corporate debtor for the last two financial years;
(6) provisional financial statements for the current financial year made up to the date of the declaration by the directors or partners, as the case may be; and
(7) a format as notified by the Board and submitted by the authorised representatives selected for the classes of creditors, wherever applicable.”.
• In the principal regulations, in sub-regulation (2) of regulation 19,
(a) in clause (a), for the words “Form P9”, the words “such format as notified by the Board” shall be substituted.
(b) in clause (b), for the words “Form P2”, the words “such format as notified by the Board” shall be substituted.
• In the principal regulations, in regulation 20,
(a) in sub-regulations (1), (2) and (8), for the words “Form P10”, the words “such format as notified by the Board” shall be substituted.
(b) in sub-regulation (9) for the words “Form P10”, the words “The format as notified by the Board under subregulation (8)” shall be substituted.
They shall come into force on June 02, 2026.
[Notification No. IBBI/2026-27/GN/REG147]
