Insolvency and Bankruptcy Board of India (IBBI) has issued the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2025. These amendments to the 2017 regulations are effective from their publication in the Official Gazette. The changes specifically add an explanation to regulation 2, sub-regulation (1), clause (c), clarifying the term “associated.” It defines “associated” as involvement in the conduct of investigation, inspection, consideration of related reports, or issuance of show-cause notices. The amendments are introduced under the authority of sections 196, 217, 218, 219, 220, and 240 of the Insolvency and Bankruptcy Code, 2016. This notification builds on previous amendments made in August 2024. The updates aim to provide greater clarity in defining roles and responsibilities within inspection and investigation activities.
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 28th January, 2025
Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2025.
F. No. IBBI/2024-25/GN/REG118.—In exercise of the powers conferred under sections 196, 217, 218, 219, 220 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 further to amend the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017, namely: –
1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2025.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017, in regulation 2, in sub-regulation (1), in clause (c), after the proviso, the following explanation shall be inserted, namely:-
“Explanation: It is hereby clarified that “associated” shall mean involvement in the conduct of investigation or inspection or consideration of the investigation or inspection report or issuance of show cause notice;”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./936/2024-25]
Note: The Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 were published vide Notification No. IBBI/2017-18/GN/REG011 on 12th June, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 239 dated 12th June, 2017 and were last amended by the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2024 published vide Notification No. IBBI/2024-25/GN/REG115, dated the 13th August 2024 in the Gazette of India, Extraordinary, Part III, Section 4, No. 617 on 13th August 2024.
