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ARTICLE · 12 FEBRUARY 2025

Key Highlights Of CIRP Amendment Regulations 2025

Argus Partners
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Insolvency and Bankruptcy Board of India ("IBBI") has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations...

IndiaInsolvency/Bankruptcy/Re-Structuring
Somdutta Bhattacharyya
Somdutta Bhattacharyya
Kiran Sharma
Kiran Sharma
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Insolvency and Bankruptcy Board of India ("IBBI") has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025 ("Amendment Regulations") on February 3, 2025. The amendments seek to further streamline the corporate insolvency resolution process with a special focus on real estate projects. Prior to this, various discussion papers and subsequent amendments were brought into force.

A brief overview of the amendments made pursuant to the Amendment Regulations is as follows:

Real Estate Related Amendments:

  1. Handing Over Possession: The Resolution Professional, after obtaining approval of the Committee of Creditors ("CoC") with not less than sixty-six percent of total votes and upon fulfilment of all obligations by the homebuyer and where the allottee has requested for the same, can now hand over possession of plots, apartments, or buildings to the homebuyers while the resolution

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