<h1>IBBI Amends Insolvency Regulations: New Rules on Creditor Representation, Withdrawal Procedures, and Interest Rates for Unsecured Creditors.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency Resolution Process for Corporate Persons Regulations, 2016. Key changes include the appointment process for authorized representatives for creditor classes, withdrawal application procedures with a 90% creditor committee approval, and interest rate provisions for creditors without agreed rates. Interim resolution professionals will assume resolution professional duties if appointments are delayed. The regulations also outline timelines for various stages in the insolvency process, including publishing expressions of interest, evaluating resolution plans, and addressing preferential transactions. The amendments aim to streamline and clarify the corporate insolvency resolution process.