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of <h1>India Amends Insolvency Regulations: Lockdown Period Excluded from Corporate Insolvency Timelines Under Regulation 40C.</h1> The Insolvency and Bankruptcy Board of India issued the Third Amendment Regulations, 2020, to the Insolvency Resolution Process for Corporate Persons, effective from March 29, 2020. This amendment introduces Regulation 40C, which states that the lockdown period imposed due to the COVID-19 outbreak will not be counted in the timeline for activities in the corporate insolvency resolution process. The amendment was initially published on the Board's website due to lockdown restrictions and will be officially published in the Gazette of India once feasible. The amendment aims to provide clarity without adversely affecting stakeholders.
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