Voting procedure for creditors requires authorised representative to circulate agenda and minutes and provide voting windows.
Voting by creditors in a class must follow prescribed procedures: the authorised representative must circulate the agenda and minutes and announce voting windows enabling creditors to give instructions at two stages; internal or pre-polling on matters not on the Committee of Creditors' agenda is inconsistent with the Code and Regulations and may vitiate the voting process. The Resolution Professional and authorised representative must conduct and publicise the timing and manner of voting in strict compliance with the Code, the Regulations and applicable judicial directions.

Registered valuer requirement: valuations must be conducted under corporate and insolvency law provisions for compliance.
Valuations required under corporate and insolvency statutes must be performed by a registered valuer; the circular reiterates that Rule 10 of the Companies (Registered Valuers and Valuation) Rules, 2017 read with section 247 of the Companies Act, 2013 and IBBI guidance require registered valuers to conduct valuations arising under the Companies Act, the Insolvency and Bankruptcy Code, 2016 and related regulations, and supplies annexed lists of the specific statutory provisions where such valuations are mandated, including instances requiring determination of fair value and liquidation value.

Information of default delivery: MCA21 and CERSAI approved as statutory repositories for debtor address verification under IU regulations.
Information of default must be delivered to the debtor by hand, post or electronic means at the postal or e-mail address registered with the information utility, failing which at an address recorded with any other statutory repository as approved by the Board, failing which at the address submitted in Form C of the Schedule. The Board approves the MCA21 database and the CERSAI registry as repositories for the purposes of regulation 21(2)(c)(ii).

Amendment Regulations applicability limited to liquidation processes commencing on or after notification; prior liquidations excluded.
The Amendment Regulations apply prospectively and are not retrospective: they govern liquidation processes commencing on or after the date of notification and do not apply to liquidation processes that had commenced before that date; the circular reiterates this clarification for insolvency professionals and related entities under the Board's statutory power to issue guidance.

Insolvency professionals must file specified electronic forms for CIRP monitoring within set timelines; historic filings due by 30 Sep 2019.
The IBBI requires insolvency professionals to electronically file Forms IP 1 and CIRP 1-6 on an IBBI platform using DSC/e signature for monitoring CIRP stages and IP performance; historic filings due by 30 September 2019 and ongoing filings due within the stage specific timelines (generally within seven days of the event).

Registered valuer requirement: only IBBI-registered valuers may perform insolvency valuations; payments to unregistered valuers excluded.
Only valuers registered with the Board under the Companies (Registered Valuers and Valuation) Rules, 2017 are authorised to conduct valuations required under the Insolvency and Bankruptcy Code; appointment of unregistered valuers after 1 February 2019 is illegal, and payments to such persons shall not form part of insolvency resolution process costs or liquidation costs.

Temporary surrender of professional membership: IPAs should generally refuse surrender when IPs have active insolvency or empanelled regulatory roles.
The circular directs that IPAs should not ordinarily accept temporary surrender where an IP has pending assignments under the Code, represents creditor classes, or is empanelled for roles such as IRP, Liquidator or SEBI Administrator. It requires IPAs to verify declarations on absence of assignments and disciplinary proceedings, residency, employment status, Code of Conduct compliance, fee payment and cooperation obligations. Six standard forms (Form A-F) are prescribed for application, IPA acceptance and intimation to the Board, and for revival and reinstatement upon verified eligibility.

Fee payment compliance requires insolvency professionals and entities to file annual Form E/G electronically, including nil returns.
Insolvency professionals and insolvency professional entities must pay an annual fee to the Board at the prescribed rate on professional fees or turnover for the preceding financial year and submit the corresponding annual statement (Form E for IPs; Form G for IPEs) electronically by the annual deadline; submission is required even if no fees or turnover were earned, and payment and filing are conditions of registration or recognition under the Regulations.

Reconstitution of Insolvency Law Committee establishes standing review body to oversee IBC implementation and recommend reforms.
Re-constitution of the Insolvency Law Committee as a Standing Committee to review and guide implementation of the Insolvency and Bankruptcy Code, 2016, tasked with continuous review of corporate insolvency resolution and liquidation frameworks, identifying efficiency and effectiveness issues (including cross border, individual, group insolvency, avoidance actions, and Board regulatory powers), making recommendations to the Ministry, with specified membership, power to co opt experts, government allowances for non official members, and secretarial support by the Ministry or IBBI.