Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2025. - F. No. IBBI/2025-26/GN/REG131 - Insolvency and Bankruptcy
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Personal guarantor insolvency process: resolution professionals must file prescribed electronic Forms; late filing incurs fees and regulatory consequences. Regulation 23 requires resolution professionals to file specified Forms with enclosures on the Board's electronic platform within timelines notified by the Board, ensuring accuracy and completeness. Late filing attracts a fee of five hundred rupees per Form for each calendar month of delay after the notified due date. The resolution professional is subject to such action as the Board may take under the Code or regulations, including refusal to issue or renew Authorisation for Assignment, for failure to file, for inaccurate or incomplete filings, or for delay.
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Personal guarantor insolvency process: resolution professionals must file prescribed electronic Forms; late filing incurs fees and regulatory consequences.
Regulation 23 requires resolution professionals to file specified Forms with enclosures on the Board's electronic platform within timelines notified by the Board, ensuring accuracy and completeness. Late filing attracts a fee of five hundred rupees per Form for each calendar month of delay after the notified due date. The resolution professional is subject to such action as the Board may take under the Code or regulations, including refusal to issue or renew Authorisation for Assignment, for failure to file, for inaccurate or incomplete filings, or for delay.
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