IBBI Amends Regulations to Define "Associated" Personnel in Investigation and Inspection Processes Under IBC

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....IBBI amended its Inspection and Investigation Regulations 2017 through powers under IBC sections 196, 217-220, and 240. The amendment introduces a clarification to regulation 2(1)(c) by inserting an explanation defining "associated" in the context of investigations and inspections. The term now specifically means involvement in conducting investigations/inspections, considering investigation/inspection reports, or issuing show cause notices. The amendment, effective upon official gazette publication, aims to provide clearer interpretation of associative roles in regulatory oversight processes. This modification enhances regulatory clarity regarding personnel involvement in IBBI's investigative functions.....