The Insolvency and Bankruptcy Board Of India (IBBI) on October 30, 2026, issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2026 to further amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
The following amendments have been stated:
• For regulation 4D, the following regulation shall be substituted, namely:-
“4D. Project-wise records and fund utilisation. (1) Where a corporate debtor has any real estate project, the interim resolution professional or the resolution professional, as the case may be, shall operate a separate bank account for each real estate project.
(2) The interim resolution professional or the resolution professional, as the case may be, shall place before the committee, at such intervals as may be considered appropriate by the committee, a project-wise statement of receipts and payments, and such other financial information relating to such real estate project as may be required by the committee.
(3) The interim resolution professional or the resolution professional, as the case may be, shall ensure that, in respect of every real estate project of the corporate debtor, the fund utilisation requirements provided under the Real Estate (Regulation and Development) Act, 2016 are complied with during the corporate insolvency resolution process.”
In regulation 4E, the following explanation shall be inserted as under:-
“Explanation - For the purposes of this regulation, the committee may either decide to grant approval in respect of each request made by an individual allottee, to the resolution professional, or grant an in-principle approval, authorising the resolution professional to process all such requests as and when they are received during the corporate insolvency resolution process.”
• For regulation 38A, the following regulation shall be substituted, namely:-
"38A. Mandatory contents of resolution plan for a corporate debtor having any real estate project. In respect of a corporate debtor having any real estate project, every resolution plan shall, in addition to the requirements under the Code and these Regulations, provide project-wise details including –
(a) total number of units sanctioned, constructed and under construction, with segregation of sold and unsold units;
(b) treatment of claims of allottees, by way of possession of units, execution of conveyance deed, registration or transfer of title in respect of unit already handed over or otherwise eligible for conveyance, refund of amount, or in any other manner;
(c) where the information memorandum includes the details of the allottees who have not submitted their claims, the resolution plan shall provide for treatment of such allottees;
(d) timelines for completion and delivery of possession to be specified project-wise, phase-wise or tower-wise, as applicable; and (e) periodic reporting including submission of progress reports to the Monitoring Committee."
They shall come into force on October 30, 2026.
[Notification No. IBBI/2026-27/GN/REG155]
