TaxTMI 
TaxTMI 
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2026
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....dia (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2026 F. No. IBBI/2026-27/GN/REG153.- In exercise of the powers conferred by clauses (aa) and (t) of sub-section (1) of section 196 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 to further a....
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....shall be substituted, namely:- "Provided that if the number of such unrelated operational creditors is less than eighteen, the committee shall include all such unrelated operational creditors." 3. In the principal regulations, after regulation 16D, the following regulation shall be inserted, namely:- "16E. Assistance to committee where creditors other than scheduled banks or p....
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....mely:- "31B. Approval of committee for insolvency resolution process costs. (1) All insolvency resolution process costs incurred till the first meeting of the committee, along with the justification for incurring such costs, shall be placed by the resolution professional for the approval of the committee at its first meeting. (2) The resolution professional shall prepare....
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....ncurred only with the prior approval of the committee. (5) For the purpose of sub-regulation (4), the resolution professional shall, at each meeting of the committee- (a) place statements of estimate of income, expense and cash flow for the period up to the next meeting; (b) seek approval for insolvency resolution process costs proposed to be incurred until the next meet....