The Insolvency and Bankruptcy Board of India (IBI) on January 28, 2025, issued the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2025.
This shall come into force on January 29, 2025.
It states that in regulation 2, in sub-regulation (1), clause (c), which states the definition of ‘Disciplinary Committee’, after the proviso, the following explanation shall be inserted, namely: - “Explanation: It is hereby clarified that “associated” shall mean involvement in the conduct of investigation or inspection or consideration of the investigation or inspection report or issuance of show cause notice;”.
[Notification no. - IBBI/2024-25/GN/REG118]
