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of <h1>India Amends Liquidation Process: Creditors Can Transfer Debts, Liquidators Can Assign Assets Under New Regulations 30A, 37A.</h1> The Insolvency and Bankruptcy Board of India has issued the Fourth Amendment to the Liquidation Process Regulations, 2016, effective upon publication in the Official Gazette. The amendment introduces Regulation 30A, allowing creditors to assign or transfer debts during the liquidation process, with both parties required to inform the liquidator of the terms and the assignee's identity. Regulation 37A permits liquidators to assign or transfer not readily realizable assets through a transparent process with stakeholder consultation. Additionally, Regulation 38 is amended to clarify that assets could not be sold, assigned, or transferred.
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