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of <h1>India Updates Insolvency Regulations: Authorization Validity Periods Adjusted, New Provisions for Professionals Turning 70.</h1> The Insolvency and Bankruptcy Board of India has issued the 2024 amendment to the Model Bye-Laws and Governing Board of Insolvency Professional Agencies Regulations, 2016. These amendments, effective upon publication in the Official Gazette, modify the validity period of authorizations for assignment issued by the Agency. The authorization is valid for one year from issuance or renewal, with specific provisions extending validity to June 30th or December 31st, depending on the expiry date. Additionally, if a professional member turns seventy during this period, the authorization remains valid until their birthday.
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