IBBI Amends Insolvency Resolution Process for Corporate Persons Regulations; Insert Norms w.r.t. ‘Appointment of Facilitators’
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- Last Updated on 11 February, 2025
Notification No. F. No. IBBI/2024-25/GN/REG122; Dated: 03.02.2025
IBBI has notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025. A new regulation 16C relating to ‘appointment of facilitators’ has been inserted. It states that where the number of creditors in a class exceeds Rs 1000, the committee may direct the IRP/RP to appoint an insolvency professional, resolution professional and authorised representative or any other person as facilitator subject to certain conditions.
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