Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2026.

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....rd of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2026 F. No. IBBI/2026-27/GN/REG/140.- In exercise of the powers conferred by sections 196, 203 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the....

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....(1), in clause (c), for the punctuation mark ":" occurring at the end, the words and punctuation mark "; and" shall be substituted; (iii) in sub-regulation (1), after clause (c) the following clause shall be inserted, namely:- "(d) nominee director."; (iv) in the proviso to sub-regulation (1), after the words "minimum seven directors", the words "excluding the nominee di....

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....formance review of the first term by the Governing Board and prior approval of the Board."; (vii) after sub-regulation (14), the following sub-regulation shall be inserted, namely: - "(15) The Board shall nominate one individual as its nominee director on the Governing Board of an insolvency professional agency, and such nominee director shall have the same status, rights, duties....