The IBBI Disciplinary Committee held that continued operation of a CIRP bank account after commencement of liquidation violates Sections 34 and 36 of the Code. The professional’s registration was suspended for two years for unauthorised transactions post-liquidation.
IFSCA has directed IFSC Banking Units to clearly include GIFT IFSC Banking Unit in their SWIFT BIC names to avoid misrouting of cross-border remittances. Compliance reporting is mandatory by June 30, 2026.
RBI’s Amendment Directions enable NUCFDC to raise capital beyond statutory private placement limits. The decision ensures broader participation by UCBs while mandating reporting and regulatory compliance.
FSSAI has proposed amendments to the 2018 Packaging Regulations to introduce key definitions, including food contact materials and non-intentionally added substances. The draft, issued under statutory powers, invites public objections within 60 days.
Exercising powers under Sections 10 and 37 of the Food Safety and Standards Act, 2006, FSSAI amended its 2017 notification to appoint a new Food Safety Officer for North Central Railway.
The Finance Ministry has permitted Aadhaar-based authentication for accessing credit information reports, subject to user consent and availability of alternative ID options.
The 2026 amendment replaces internationally accepted valuation standards with standards notified by the Board through circular. It strengthens regulatory control over valuation in personal guarantor bankruptcy cases.
The 2026 amendment revises the definition of “fair value” to include all assets and underlying synergies and requires appointment of two sets of registered valuers. It introduces a structured mechanism for computing fair and liquidation values.
The IBBI has inserted an explanation in Regulation 3 requiring registered valuers to prepare reports and maintain documentation as per a format notified by the Board. The amendment takes effect from publication in the Official Gazette.
The amendment replaces earlier valuation rule references with standards notified by the regulator through circulars. It centralizes control over valuation in liquidation proceedings.
