IBBI Updates : Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2022

These Regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2022. They shall come into force on the date of their publication in the Official Gazette

In the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (hereinafter referred to as the principal regulations‟), after regulations 2A - Contribution of liquidation asset 21A- Presumption of security interest 31A- Stakeholder Consultation Committee 44- Completion of Liquidation The following Explanation shall be inserted, namely: - “Explanation.- It is hereby clarified that the requirements of this regulation shall apply to the liquidation processes commencing on or after the date of the commencement of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019.”