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Corporate Laws Central Ministry of Law and Justice Insolvency and Bankruptcy Code, 2016

IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2025

21-May-2025 | No. IBBI/2025-26/GN/REG126

IBBI has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2025, effective from 01st June, 2025.

By virtue of this amendment, Section 40B of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for CorporatePersons) Regulations, 2016 has been amended.

Key Highlights are as follows:
1. IBBI has amended the forms to be filed by interim resolution professional or resolution professional on an electronic platform of the Board within stipulated timelines specified. For the Details of esolution plan, Form CP-3A has to be filled by Resolution Professional on or before the 10th day of the subsequent month, after filing application with Adjudicating Authority.
2. In case of delay in submission of form, late fees shall be applicable at five hundred rupees per Form for each calendar month of delay.
3. The interim resolution professional or resolution professional shall be liable to any action which Board may take as deemed fit under the Code for failure to file a form, inaccurate or incomplete information or records, delay in filing the Form.

Kindly refer to the attached document for more information.

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