The Insolvency and Bankruptcy Board of India (IBBI), on February 25, 2026, issued the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) (Amendment) Regulations, 2026, to further amend the Insolvency and Bankruptcy Board of India (Pre-Packaged Insolvency Resolution Process) Regulations, 2021.
The following has been stated namely: -
• In regulation 2, sub-regulation (1), for clause (g) the following clause shall be substituted, namely:- “(g) “fair value” means the estimated realizable value of the corporate debtor or the assets of the corporate debtor, as the case may be, if they were to be exchanged on the insolvency commencement date between a willing buyer and a willing seller in an arm‟s length transaction, after proper marketing, and where the parties had acted knowledgeably, prudently, and without compulsion.
• In regulation 38, which states, “Appointment of registered valuers”, after the words “appoint two” the words shall be inserted, namely:- “sets of”.
• In regulation 39, which states,“Fair value and liquidation value”, after sub-regulation (1), the following shall be inserted, namely:- “(1A) For the purposes of this regulation, a registered valuer shall prepare the valuation report and maintain such documentation as per the format notified by the Board through circular.”
[Notification No. IBBI/2025-26/GN/REG138]
