The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses under Schedule V of the Income-tax Act, 2025. The notification expands the scope of recognized infrastructure activities for tax purposes.
The 2026 amendments significantly expand disclosure requirements for operational creditors and corporate applicants. The changes aim to provide resolution professionals and creditors with more comprehensive information during insolvency proceedings.
The 2026 amendments significantly strengthen the role of the Committee of Creditors during liquidation by requiring approval for key decisions. The changes shift major decision-making authority from consultation mechanisms to creditor oversight.
The 2026 amendment introduces Regulation 20A to govern asset transfers involving personal guarantors undergoing bankruptcy and related corporate insolvency proceedings. It also requires creditor approval and disclosures.
The 2026 amendments require personal guarantors to disclose a complete statement of assets, including digital assets, investments, beneficial interests, and overseas holdings. The move aims to enhance transparency in insolvency proceedings
The 2026 amendments introduce new requirements for submission and updating of claims, communication of claim decisions, and recording reasons for claim rejection. A detailed framework for termination of voluntary liquidation proceedings has also been added.
The Third Amendment Regulations, 2026 replace references to Forms P1–P14 with formats to be notified by the IBBI. The Schedule containing the prescribed forms has also been omitted.
IBBI has amended the Information Utilities Regulations to formally recognize “Information of Dispute” when a debtor contests a reported default. The change creates a distinct mechanism for handling disputed default information.
The 2026 amendment replaces references to whole-time members with a broader framework allowing the Disciplinary Committee to consist of one or more persons. The changes update the regulatory structure governing inspections and investigations under the IBC framework.
The Board has streamlined grievance procedures by omitting Form A from the regulations and allowing complaints in Board-notified formats. The move increases administrative efficiency and procedural adaptability.
