IBBI Notifies Key Amendments To CIRP Regulations

• The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2025, which have come into force with effect from May 28, 2025.
• The key regulatory changes introduced through this amendment are outlined below.

FLEXIBILITY INTRODUCED IN ASSET SALE PROCESS UNDER CIRP

• The restriction previously imposed under Regulation 36B(6A), which permitted the Resolution Professional (‘RP') to invite resolution plans for specific assets only after the failure to receive a resolution plan for the entire corporate debtor, has now been omitted.
• Pursuant to addition of Regulation 36A(1A), the RP is now authorised, with the prior approval of the Committee of Creditors (‘CoC'), to concurrently invite expressions of interest and submission of resolution plans for:
  • the corporate debtor as a whole;