IBBI Amends Voluntary Liquidation Regulations to Mandate Valuation Format via Circular

The Insolvency and Bankruptcy Board of India has notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2026 on February 25, 2026, in exercise of powers under Section 196(1)(t) read with Section 240 of the Insolvency and Bankruptcy Code, 2016. The amendment modifies Regulation 3(1)(b) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 by inserting an explanation after sub-clause (ii). The inserted explanation clarifies that a registered valuer shall prepare the valuation report and maintain documentation in accordance with the format notified by the Board through a circular. The amendment will come into force from the date of its publication in the Official Gazette. The 2017 Regulations were originally notified on March 31, 2017 and were last amended on January 28, 2025. The notification has been issued under F. No. IBBI/2025-26/GN/REG137 and signed by the Chairperson.

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA

NOTIFICATION

New Delhi, the 25th February, 2026

Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2026

F. No. IBBI/2025-26/GN/REG137.—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 (Voluntary Liquidation Process) Regulations, 2017, namely: –

1. (1) These regulations may be called Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (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 (Voluntary Liquidation Process) Regulations, 2017, in regulation 3, in sub-regulation (1), in clause (b), after sub-clause (ii), the following explanation shall be inserted, namely:-

“Explanation –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./714/2025-26]

Note: The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 were published vide notification No. IBBI/2016- 17/GN/REG010, dated 31^st March, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 130 on 31^st March, 2017 and were last amended by the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2025 published vide notification No. IBBI/2024-25/GN/REG120, dated the 28^th January, 2025 in the Gazette of India, Extraordinary, Part III, Section 4, No.81 on 29^th January, 2025.