The Insolvency and Bankruptcy Board of India (IBBI) has
implemented two significant policy reforms to enhance the
effectiveness of the corporate insolvency framework in India. These
include the Fourth Amendment to the Insolvency and Bankruptcy Board
of India (Insolvency Resolution Process for Corporate Persons)
Regulations, 2016 and the introduction of new guidelines for
recommendation of Insolvency Professionals (IPs) to act as Interim
Resolution Professionals, Liquidators, Resolution Professionals and
Bankruptcy Trustees to Adjudicating Authority.
The amendments introduce notable procedural and substantive
changes to enhance transparency, participation, and fairness in the
resolution process and have been brought into force from May 26,
2025. The two instruments are also structured to improve procedural
transparency, accelerate resolution timelines, and safeguard the
interests of all stakeholders involved in the insolvency
process.
