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Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

(Updated in 2025) [As Amended by No. IBBI/2024-25/GN/REG121 dt. 28/01/2025 - Amendments in Regulation 45(3)(a), Regulation 46(1), Rgulation 47B, Schedule I and Schedule II. No. IBBI/2023-24/GN/REG112. dt. 12/02/2024 - Amendments in Regulation 2B(1), Regulation 14, Regulation 31A(1)(e)(f), 31A(6), 31A(6A), 31A(9), Regulation 32A(4), 32A(5), Regulation 33(2), 33(b)(c), Regulation 35(2), 35(5), Regulation 46(7), 46(8), Regulation 46A, Schedule I, Form A and Form H]

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S.Regulation 9 Personnel to extend cooperation to liquidator.--
S.Regulation 10 Disclaimer of onerous property.--
S.Regulation 11 Extortionate credit transactions.--
S.Regulation 12 Public announcement by liquidator.--
S.1[Regulation 12-A Process e-mail ID.--
S.Regulation 13 Preliminary report.--
S.Regulation 14 Early dissolution.--
S.Regulation 15 Progress reports.--
S.Regulation 16 1[Submission of claim.--
S.Regulation 17 Claims by operational creditors.--
S.Regulation 18 Claims by financial creditors.--
S.Regulation 19 Claims by workmen and employees.--
S.Regulation 20 Claims by other stakeholders.--
S.Regulation 21 Proving security interest.--
S.1[Regulation 21-A Presumption of security interest.--
S.Regulation 22 Production of bills of exchange and promissory notes--
S.Regulation 23 Substantiation of claims.--
S.Regulation 24 Cost of proof.--
S.Regulation 25 Determination of quantum of claim.--
S.Regulation 26 Debt in foreign currency.--
S.Regulation 27 Periodical payments.--
S.Regulation 28 Debt payable at future time.--
S.Regulation 29 Mutual credits and set-off.--
S.Regulation 30 Verification of claims.--
S.1[Regulation 30-A Transfer of debt due to creditors.--
S.Regulation 31 List of stakeholders.--
S.1[Regulation 31-A Stakeholders' consultation committee.--
S.1[Regulation 32 Sale of Assets, etc.--
S.1[Regulation 32-A Sale as a going concern.--
S.1[Regulation 32-B Conduct of meetings of the consultation committee.--
S.Regulation 33 Mode of sale.--
S.Regulation 34 Asset memorandum.--
S.1[Regulation 35 Valuation of assets or business intended to be sold.--
S.Regulation 36 Asset sale report.--
S.Regulation 37 Realization of security interest by secured creditor.--
S.1[Regulation 37-A Assignment of not readily realisable assets.--
S.Regulation 38 Distribution of unsold assets.--
S.Regulation 39 Recovery of monies due.--
S.Regulation 40 Liquidator to realize uncalled capital or unpaid capital contribution.--
S.Regulation 41 All money to be paid in to bank account.--
S.Regulation 42 Distribution.--
S.Regulation 43 Return of money.--
S.Regulation 44 Completion of liquidation.--
S.1[Regulation 44-A Treatment of avoidance of transaction.--
S.Regulation 45 Final report prior to dissolution.--
S.1[Regulation 45-A Preservation of records.--
S.1[Regulation 46 Corporate Liquidation Account.--
S.1[Regulation 46A Exclusion of certain assets from the liquidation estate.--
S.1[Regulation 47 Model time-line for liquidation process.--
S.1[Regulation 47-A Exclusion of period of lockdown.--
S.1[Regulation 47 B Filing of Forms
S.SCHEDULE I
S.SCHEDULE II
S.SCHEDULE III
S.Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2024 All Amendments Incorporated at Appropriate place
S.Insolvency and Bankruptcy Board of India (Liquidation Process)(Amendment) Regulations, 2025 All Amendments Incorporated at Appropriate place
S.Regulation 1 Short title and commencement.--
S.Regulation 2 Definitions.--
S.1[Regulation 2-A Contributions to liquidation costs.--
S.1[Regulation 2-B Compromise or arrangement.--
S.Regulation 3 Eligibility for appointment as liquidator.--
S.1[Regulation 4 Liquidator's fee.--
S.Regulation 5 Reporting
S.Regulation 6 Registers and books of account
S.Regulation 7 Appointment of professionals.--
S.Regulation 8 Consultation with stakeholders.--
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