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of <h1>India Updates Insolvency Rules: New Voting, Priority Payments, and Electronic Filing Requirements in 2019 Amendments.</h1> The Insolvency and Bankruptcy Board of India issued the Third Amendment Regulations, 2019, to modify the Insolvency Resolution Process for Corporate Persons. Key changes include the omission of sub-regulation (1A) in regulation 26, introduction of regulation 25A for voting by authorized representatives, and restructuring options like mergers and demergers in regulation 37. Regulation 38 prioritizes payments to operational creditors and dissenting financial creditors. Regulation 40B mandates electronic filing of forms with timelines and penalties for delays. Amendments to forms B and H in the schedule update details on security and stakeholder payments under resolution plans. These regulations took effect upon publication in the Official Gazette.
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