IBBI Amends Liquidation Process Regulations, 2016

On 28th April 2022, the Insolvency and Bankruptcy Board of India amended the Liquidation Process Regulations clarifying the applicability of Sections 2A, 21A, 31A and 44.

The said amendments have been issued to come into force from the date of notification in the Official Gazette. 

The amendment has inserted an explanation after regulations 2A, 21A, 31A and 44 clarifying that the requirements of this regulation shall only apply to liquidation processes commencing on or after the date of the commencement of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019.