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of <h1>IBBI Amends Voluntary Liquidation Regulations: New Rules on Disclosures, Meetings, and Claim Procedures Under Regs 3, 8, 37, 39.</h1> The Insolvency and Bankruptcy Board of India has issued amendments to the Voluntary Liquidation Process Regulations, 2017, effective from their publication date. Key changes include modifications to regulation 3, requiring additional disclosures about pending proceedings and obligations, and adjustments to regulation 8, removing the term 'Annual.' Regulation 37 now mandates meetings of contributories within specified timeframes and requires liquidators to file status reports. Regulation 39 introduces new procedures for stakeholders to claim amounts from the Corporate Voluntary Liquidation Account before and after dissolution, with detailed steps for verification and distribution.
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