Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2025. - IBBI/2025-26/GN/REG129 - Insolvency and Bankruptcy
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Liquidation process regulations amended to apply prospectively and remove specified clauses affecting going concern sales. The 2025 amendment applies prospectively to liquidations where sale as a going concern has not commenced, omits clause (f) of regulation 31A(1), rewords and removes specified subclauses of regulation 32 including insertion of 'or', substitution of punctuation and omission of clauses (e) and (f) with a proviso reference change, and omits regulation 32A, thereby removing identified provisions and realigning internal references in the liquidation regulations.
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Liquidation process regulations amended to apply prospectively and remove specified clauses affecting going concern sales.
The 2025 amendment applies prospectively to liquidations where sale as a going concern has not commenced, omits clause (f) of regulation 31A(1), rewords and removes specified subclauses of regulation 32 including insertion of "or", substitution of punctuation and omission of clauses (e) and (f) with a proviso reference change, and omits regulation 32A, thereby removing identified provisions and realigning internal references in the liquidation regulations.
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