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of <h1>India Amends Insolvency Resolution Regulations: Limits on Plan Modifications & New Guidelines for Committees.</h1> The Insolvency and Bankruptcy Board of India has issued the Third Amendment to the Insolvency Resolution Process for Corporate Persons Regulations, 2016. Effective from its publication date, the amendment introduces several changes: committees must adhere to Board guidelines during the corporate insolvency resolution process; modifications to the invitation for expression of interest are limited to once; and the resolution professional may allow a single modification to the resolution plan or employ a challenge mechanism for plan improvement. The committee is restricted from considering late or non-compliant plans or those from unlisted applicants.
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