The Insolvency and Bankruptcy Board of India (IBBI) on February 25, 2026, issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2026, further to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
This shall take effect from February 25, 2026.
The following has been amended, namely:
• The amendment revises the definition of “fair value” to include the total estimated realizable value of all assets of the corporate debtor, including tangible and intangible assets, along with underlying synergies.
• It mandates appointment of two sets of registered valuers within a prescribed timeline, introduces the concept of a coordinating valuer in each set, and requires valuers to explain their methodology to the Committee of Creditors and conduct physical verification of assets. Where valuation estimates differ by 25% or more, or where the Committee records reasons, a third set of valuers may be appointed. The fair value and liquidation value are to be determined based on the average of the two closest estimates.
• The amendments also expand the scope of the Information Memorandum to include detailed disclosures on receivables, joint development agreements, assets under attachment by enforcement agencies, and details of real estate allottees who have not filed claims but are reflected in records.
• Further, a new Regulation 38A requires that resolution plans provide for the treatment of such non-claiming allottees in real estate projects.
[Notification no. - IBBI/2025-26/GN/REG135]
