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of <h1>India Updates Insolvency Regulations: New Eligibility Criteria and Inclusive Language for Professional Agencies Effective October 2022.</h1> The Insolvency and Bankruptcy Board of India issued amendments to the Model Bye-Laws and Governing Board of Insolvency Professional Agencies Regulations, 2016. Effective from October 3, 2022, these amendments include changes such as the eligibility criteria for insolvency professional entities, which must now be registered with the Board to be enrolled as professional members. The amendments also update language to be more inclusive of entities, replacing terms like 'his' and 'him' with 'its' and 'it.' Additionally, details about partners or directors must be provided if the professional member is an insolvency professional entity.
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