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of <h1>IBBI Withdraws 2019 Circular; 2022 Amendment Clarifies Liquidation Rules Effective from July 25, 2019, u/s 196.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has withdrawn its circular dated 26th August 2019, which clarified the applicability of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019. These regulations were applicable only to liquidation processes commencing on or after 25th July 2019. To enhance clarity, the IBBI has issued the 2022 Amendment Regulations, confirming that specific provisions apply solely to liquidation processes starting on or after 25th July 2019. The withdrawal is effective immediately, as authorized under section 196 of the Insolvency and Bankruptcy Code, 2016.
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