Insolvency and Bankruptcy Board of India has notified eight sets of amendment regulations on June 1, 2026, further amending the respective principal regulations.

A. Grievance and Complaint Handling Procedure (Amendment) Regulations, 2026 — REG144: The definition of “service provider” has been aligned with clause (31A) of Section 3 of the Code. The reference to “Form A” in Regulation 3(3) has been substituted with a Board-notified format, and Form A has been omitted.

B. Information Utilities (Amendment) Regulations, 2026 — REG146: The definition of “record of default” in clause (la) has been amended to refer to a Board-notified format. A new clause (lb) has been inserted defining “Information of Dispute” as a standardised output for cases where the debtor disputes the default. Clause (p) has been omitted. References to “banks included in the second schedule of the RBI Act, 1934” have been substituted with “financial institutions as defined in clause (14) of section 3 of the Code”. Regulation 21(3) has been substituted with a new table specifying that a Record of Default is issued where the debtor confirms default or does not respond after three reminders, and an Information of Dispute is issued where the debtor disputes the default. The Schedule has been omitted and all form references have been substituted with Board-notified formats.

C. Pre-Packaged Insolvency Resolution Process (Third Amendment) Regulations, 2026 — REG147: Regulation 18 has been substituted specifying information and documents required from the corporate applicant under Section 54C(3), including declarations, proof of financial creditor approval representing not less than fifty-one per cent. of financial debt, insolvency professional details, audited and provisional financial statements, and authorised representative formats. All named form references (Forms P1 to P14) have been substituted with Board-notified formats, and the Schedule has been omitted.

D. Voluntary Liquidation Process (Second Amendment) Regulations, 2026 — REG148: A new Regulation 28A has been inserted requiring stakeholders to submit and update claims. Regulation 29 has been amended to require the liquidator to record written reasons for claim rejection and communicate the decision within seven days. A new Regulation 42 has been inserted providing a framework for termination of voluntary liquidation proceedings under Section 59(5A), including conditions for the termination resolution, intimation to the Adjudicating Authority, Board, and Registrar of Companies within seven days, and the effect of termination under Section 59(5C) on the liquidator’s appointment and further proceedings. All Schedule form references have been substituted with Board-notified formats, Schedule I has been omitted, and Schedule II has been renamed Schedule I.

E. Insolvency Resolution Process for Personal Guarantors (Amendment) Regulations, 2026 — REG149: A new Regulation 6A has been inserted requiring that applications under Sections 94 and 95 be accompanied by a complete statement of all assets across twelve specified categories including cash, business interests, investments, immovable property, retirement funds, digital assets, intellectual property, valuable movables, agricultural assets, receivables, contingent assets, and ESOPs/beneficial ownership interests, covering directly and indirectly held assets and those held through nominees, trusts, or other structures. A new Regulation 11A has been inserted providing for coordination between the resolution professional of the personal guarantor and the resolution professional of the corporate debtor for asset transfers under Section 28A, requiring creditors’ meeting approval and disclosure in statutory reports. Form A, Form B, and Form C have been omitted.

F. Bankruptcy Process for Personal Guarantors (Second Amendment) Regulations, 2026 — REG150: Regulation 10(3)(h) has been amended to insert a reference to Section 164A. A new Regulation 20A has been inserted providing for facilitation of asset transfers under Section 28A by the bankruptcy trustee, requiring committee of creditors’ approval and disclosure under Regulation 7 and Section 155. Form A and Form B have been omitted.

G. Liquidation Process (Fourth Amendment) Regulations, 2026 — REG151: Key changes include: substitution of the definition of “committee” to mean the committee of creditors under Section 21; insertion of Regulation 3A requiring the committee to recommend a liquidator from the Board’s panel prior to the liquidation order by sixty-six per cent. vote; substitution of Regulation 4 with a new tiered fee structure for the liquidator; substitution of Regulation 8 with comprehensive provisions on the committee’s functioning during liquidation including matters requiring its approval; insertion of Regulations 8A and 8B for facilitation of asset transfers and replacement of the liquidator; substitution of Regulation 30 with a seven-day claim verification requirement and mandatory written reasons for rejection; shortening of multiple timelines across Regulations 13, 16, 21A, 31, 34, 37, 42, and 44; substitution of Regulation 47 with a model timeline table for the liquidation process; and omission of Schedule II.

H. Insolvency Resolution Process for Corporate Persons (Third Amendment) Regulations, 2026 — REG152: Key changes include: substitution of Regulation 2B specifying eight categories of information to be furnished by an operational creditor under Section 9(1); insertion of Regulation 2E specifying comprehensive information to be furnished by a corporate applicant under Section 10(1) across seventeen categories; insertion of Regulations 28A and 28B providing for transfer of guarantor assets taken into possession and facilitation of asset transfers where the corporate debtor is a corporate guarantor; substitution of Regulation 30A with a revised withdrawal procedure requiring filing within three days of committee approval with a bank guarantee or demand draft; insertion of Regulation 40E providing for dissolution of the corporate debtor during CIRP where the committee by sixty-six per cent. vote determines that assets are insufficient or not effectively realisable; insertion of Regulation 40F providing for restoration of CIRP under Section 33(1A); and amendment of Regulation 39 to require at least one resolution plan to provide for resolution as a going concern. All named Schedule form references across both regulations have been substituted with Board-notified formats and Schedule I has been omitted in each case.