Committee of creditors control in liquidation is expanded through revised approvals, claim handling, sale restrictions, and timelines.
The liquidation framework is restructured to place the committee of creditors at the centre of decision-making during liquidation, including recommendation of the liquidator, approval of professional appointments, approval of liquidation costs, fee arrangements, continuation or institution of proceedings, private sale conditions, extensions for balance consideration, and other material liquidation activities. The committee continues to function during liquidation, with specified participation rules for secured creditors and unsecured portions of debt, and the authorised representative continues in liquidation meetings on a mutatis mutandis basis. Claim submission, verification, reporting, valuation, sale controls, and the model liquidation timeline are also revised.

Personal guarantor bankruptcy process updated with new transfer-of-assets coordination, creditor approval, and disclosure requirements.
Amendment regulations under the Insolvency and Bankruptcy framework revise the bankruptcy process for personal guarantors to corporate debtors by replacing prescribed forms with forms notified by circular, updating the relevant cross-reference to section 164A, and inserting a new mechanism for facilitation of transfer of assets. The bankruptcy trustee must coordinate with the resolution professional, obtain committee of creditors approval for the transfer, and ensure appropriate disclosure where approval is granted.

Asset disclosure in personal guarantor insolvency resolution is expanded, with creditor approval and transfer coordination requirements introduced.
Amendments to the personal guarantor insolvency resolution regulations replace prescribed forms with circular-notified formats, omit existing forms, and expand disclosure and reporting requirements. A detailed statement of assets must accompany the application, covering direct and indirect holdings, joint assets, fiduciary holdings, beneficial ownership structures, and assets controlled or from which economic benefit is derived. The regulations also provide for coordination between resolution professionals and creditor approval in relation to transfer of assets, with disclosure obligations in the relevant reports.

Voluntary liquidation procedure updated with revised claims rules, Board-notified forms, and a new termination framework.
Amendments to the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 revise prescribed forms, replace several schedule-based forms with forms notified by Board circular, and reframe stakeholder interaction as assistance rather than consultation. The amendments add a claim-submission and claim-updation rule, require written reasons for rejection of claims, mandate communication of admission or rejection within seven days, and introduce a structured framework for termination of voluntary liquidation proceedings, including required declarations, reports, intimations, and cessation of the liquidator's powers on termination.

Pre-packaged insolvency resolution process formats shift to Board-notified templates with updated filing requirements for applicants.
The amendments replace several prescribed forms with formats notified by the Board across the pre-packaged insolvency resolution process and omit one definitional clause. A new information-and-documents provision requires the corporate applicant to file the directors' or partners' declaration, the process-initiating resolution, approval of unrelated financial creditors holding at least fifty-one per cent in value, the proposed resolution professional's consent and report, audited and provisional financial statements, and the notified format for authorised representatives, where applicable.

Information utilities amendment streamlines default authentication, introduces information of dispute, and replaces prescribed forms with board-notified formats.
The amendment replaces multiple prescribed forms in the Information Utilities Regulations, 2017 with formats notified by the Board through circular, introduces the expression "information of dispute," and clarifies that "debtor" includes "corporate debtor" unless the context otherwise requires. It also revises the authentication framework so that the information utility records default as authenticated or disputed depending on the debtor's response, with a proviso for financial institutions where disputes affecting only part of the amount or only non-financial information do not prevent authentication of the undisputed default amount.

Inspection and investigation rules are updated to align definitions, include directions, and replace prescribed Form A with a notified format.
Inspection and investigation regulations under the Insolvency and Bankruptcy Code are amended to revise the definitions used for inspection-related proceedings and align key terminology with the Code. The amendments also expand the framework by inserting references to directions alongside actions, specify that a relevant direction is one issued by the Disciplinary Committee, and replace the prescribed Form A with such format as notified by the Board, while omitting Form A after Chapter V.

Grievance and complaint handling procedure updated with revised definition and Board-notified filing format
The grievance and complaint handling framework is amended to align the definition of "insolvency professional agency" with section 3(31A) of the Insolvency and Bankruptcy Code, 2016. The filing procedure is updated by replacing the reference to Form A with a format to be notified by the Board. Form A is also omitted from the principal regulations, and the amendments take effect on publication in the Official Gazette.

Infrastructure business notified for Schedule V purposes under the Income-tax Act, 2025, with specified exclusions.
The Central Government specifies, for the purposes of Schedule V [Table: Sl. No. 7] of the Income-tax Act, 2025, a business other than the business covered by Note 5(d)(i), where such business is engaged in the infrastructure sub-sectors listed in the Updated Harmonised Master List of Infrastructure sub-sectors. The specification is made under section 11(5) read with Note 5(d)(ii) of Schedule V as a notified business for that Schedule.

State tax rate amendment revises GST tariff entries for specified goods and updates schedule classifications from 1 May 2026.
State tax rate amendments were issued under the Chhattisgarh Goods and Services Tax Act, 2017, further amending Notification No. 09/2025-State Tax (Rate) on the Council's recommendation. The changes substitute revised tariff entries in Schedule I at the 2.5% rate and in Schedule III at the 20% rate for specified HSN codes. The notification comes into force from 1 May 2026.

Customs duty concessions for Omani-origin goods under India-Oman CEPA take effect with quota-linked import conditions.
Customs duty exemption granted for specified goods imported into India from Oman under the first tranche of tariff concessions under the India-Oman CEPA. The notification covers goods in Table I, Table II and Table III at the notified BCD, AIDC and in-quota rates, subject to origin proof and, for TRQ goods, quota conditions administered through DGFT and ICES. The importer must prove Omani origin under the Rules of Origin framework, and TRQ imports are allowed only through electronic allotment, transmission and debit. The notification comes into force on 1 June 2026.

Scientific research approval for donor compliance, filing requirements, and donor certificates under the Income-tax framework.
National Institute of Advanced Studies, Bangalore is approved for Scientific Research as a university, college or other institution for the purposes of section 45(3)(a)(i) of the Income-tax Act, 2025 and the related rules. The approval applies for the tax years 2026-2027 to 2030-2031, subject to compliance with rule 34 and the filing and donor-certificate requirements in Forms No. 15 and No. 16 under rule 31.

Scientific research institution approval granted subject to compliance, donor certificate requirements, and annual statement filing obligations.
Approval is granted under section 45(4)(b) to S. Nijalingappa Sugar Institute, Belgaum, as an institution for scientific research for the purposes of section 45(3)(a)(i) and rules 32 and 34 of the Income-tax Rules, 2026. The approval applies for the tax years 2026-2027 to 2030-2031, subject to compliance with rule 34 and the filing of Form No. 15, along with issuance of Form No. 16 to the donor, in accordance with rule 31.

Scientific research approval granted subject to prescribed reporting, donor certification, and compliance conditions under the income tax framework.
Approval is granted to the Regional Centre for Biotechnology, Faridabad, Haryana, as an institution for Scientific Research under the category of University, college or other institution for the purposes of section 45 of the Income-tax Act, 2025 and the corresponding rules. The approval operates for the specified tax years 2026-2027 to 2030-2031, subject to compliance with rule 34 and the prescribed reporting and donor-certificate obligations under rule 31.

Scientific research approval granted to a university institution, subject to compliance, reporting, and donor certificate requirements.
Approval is granted under section 45(4)(b) of the Income-tax Act, 2025 to Ramakrishna Mission Vidyamandira, Howrah, as a scientific research institution for the purposes of section 45(3)(a)(i) and the relevant rules. The approval applies for the tax years 2026-2027 to 2030-2031, subject to compliance with rule 34, filing the prescribed annual statement in Form No. 15 within the specified time, and issuing donor certificates in Form No. 16.

Special Additional Excise Duty on aviation turbine fuel exports is revised through an amendment notification effective from 1 June 2026.
Amends the existing Central Excise notification governing Special Additional Excise Duty (SAED) on exports of aviation turbine fuel outside India by substituting the rate specified against the relevant entry in the table. The notification revises the applicable duty rate for the covered export transaction and comes into force with effect from 1 June 2026.

SAED rates on petrol and diesel exports revised through amendment to the Central Excise notification.
Revised SAED rates apply to exports of petrol and diesel outside India by amending the earlier Central Excise notification governing the levy. The amendment substitutes the rate entries in the relevant table so that the notified export duties are fixed at Rs 1.5 per litre for one category and Rs 13.5 per litre for the other category, with the change taking effect from 1 June 2026.

Basic customs duty exemption on cotton imports applies for a limited period under the customs tariff framework.
Imports of cotton falling under heading 5201 are exempted from the whole of the basic customs duty and the Agriculture Infrastructure and Development Cess leviable on such goods. The exemption applies only for a specified period and operates as a temporary customs tariff measure for raw cotton imports into India.

Wage ceiling under social security law notified as the benchmark for Chapter III coverage and application.
The Central Government has notified a wage ceiling of rupees fifteen thousand per month for the purposes of Chapter III of the Code on Social Security, 2020, exercising the power conferred by clause (89) of section 2 of the Code. The notification fixes the monetary threshold to be applied for the statutory purposes governed by that chapter and operates as the relevant wage benchmark under the Code.

Inspection charges for exempted establishments require monthly payment on otherwise contributable wages, subject to minimum charges and designated administration accounts.
Exempted establishments and persons must pay monthly inspection charges on wages or amounts for which social security contributions would otherwise have been payable, within fifteen days after each month. Provident fund scheme exemptions attract charges at 0.18 per cent of wages, subject to a minimum charge of 8750, payable to the Provident Fund Administration Account. Deposit-linked insurance scheme exemptions attract charges at 0.005 per cent of wages, subject to a minimum charge of 1250, payable to the Insurance Fund Administration Account.