Late filing fee for insolvency resolution forms imposes a monthly charge for delayed submissions after April first, 2020.
The amendment substitutes regulation 40B(4) to require that any Form filed after its due date, whether for correction, updation or otherwise, must be accompanied by a fee of five hundred rupees per Form for each calendar month of delay after 1 April, 2020, illustrated by an example showing cumulative monthly charges for successive months of delay.

Third party assets protection: Administrators must segregate, oversee, and return custody assets and receivables under contractual terms during insolvency.
Administrator must prepare statements of third party receivables and custody assets, continue contractual servicing obligations, maintain collected receivables in a separate account not merged with provider funds, oversee and transfer such receivables per contract, treat servicing fees as provider assets, and keep custody assets distinctly identifiable and return or transfer them to entitled persons unless contractual breach entitles the provider to retain or realize them.

Corporate Voluntary Liquidation Account created to centralise unclaimed dividends and undistributed proceeds with prescribed deposit and withdrawal rules.
Establishes a Corporate Voluntary Liquidation Account to receive unclaimed dividends and undistributed proceeds from voluntary liquidation processes; liquidators must deposit such amounts and any income earned into the Account before seeking cessation, or within fifteen days if held on commencement of the amendment, with interest payable on late deposits. The Board will maintain ledgers, issue receipts, accept withdrawal applications from stakeholders or other claimants under prescribed forms, nominate an Executive Director level custodian for approvals, obtain annual audits, and transfer amounts unclaimed or undistributed for fifteen years to the Consolidated Fund of India.

Term of Office for part-time members set for a fixed multi-year period or until retirement age, reappointment permitted.
The amendment sets the term of office of part-time members at five years or until they attain the age of 65 years, whichever is earlier, and provides that they shall be eligible for reappointment; it substitutes sub-rule (2) of rule 19 and omits sub-rule (3). The rules are made under specified provisions of the Insolvency and Bankruptcy Code, 2016 and take effect on publication in the Official Gazette.

Corporate Liquidation Account created for deposit and withdrawal of unclaimed dividends and undistributed proceeds in liquidation processes.
The regulations create a Corporate Liquidation Account as the repository for unclaimed dividends and undistributed proceeds, require liquidators to deposit such amounts and accrued income into the Account (with a fifteen-day deposit deadline for amounts held on commencement), impose twelve percent per annum interest for late deposits, mandate evidence submission in Form I, empower the Board to permit withdrawals on proof via Form J, require Board receipts, debtor-wise ledgers, custodianship by an Executive Director-level officer, annual audit and forwarding of accounts, and provide that unclaimed balances after fifteen years transfer to the Consolidated Fund of India.