Further, a new sub-regulation (8) has been inserted after regulation 35(7), mandating that a registered valuer shall prepare the valuation report and maintain documentation strictly in accordance with the format notified by the Board through circular. This introduces a standardized reporting and documentation requirement within the liquidation process. The principal regulations were originally notified on 15 December 2016 and were last amended on 2 January 2026. By empowering the Board to prescribe both valuation standards and documentation formats, the 2026 Second Amendment enhances centralized regulatory oversight and procedural uniformity in liquidation proceedings. The changes aim to ensure consistency in valuation practices, improve compliance discipline, and provide administrative flexibility within the statutory framework governing liquidation under the Code.
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 25th February, 2026
Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2026
F. No. IBBI/2025-26/GN/REG136.—In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations to further amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, namely: –
1. (1) These regulations may be called Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2026.
(2) They shall come into force on the date of publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, (hereinafter referred to as ‘the principal regulations’), in regulation 35, in sub-regulation (3), for the words “Companies (Registered Valuers and Valuation) Rules, 2017”, the words “such valuation standards as notified by the Board through circular” shall be substituted.
3. In the principal regulations, in regulation 35, after sub-regulation (7), the following shall be inserted, namely:-
“(8) For the purposes of this regulation, a registered valuer shall prepare the valuation report and maintain such documentation as per the format notified by the Board through circular.”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./713/2025-26]
Note: The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 were published vide notification No. IBBI/2016- 17/GN/REG005, dated 15th December, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, vide No. 460 on 15th December, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2026 published vide notification No. IBBI/2025-26/GN/REG134, dated the 2nd January, 2026 in the Gazette of India, Extraordinary, Part III, Section 4, No.03 on 2nd January, 2026.
