Every resolution plan to include a statement of beneficial-ownership of all natural persons who ultimately owns or controls the resolution applicant
Insolvency and Bankruptcy Board of India
Notification
New Delhi, the 22nd December, 2025
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) Regulations, 2025
F. No. IBBI/2025-26/GN/REG133 – In exercise of the powers conferred by clause (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 amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, namely:-
1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) Regulations, 2025.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, in regulation 38, after sub-regulation (3), the following sub-regulation shall be inserted, namely:-
“(3A) Every resolution plan shall include:
(a) a statement of beneficial-ownership, in a format to be notified through circular by the Board, covering details of all natural persons who ultimately owns or controls the resolution applicant, together with the shareholding structure and jurisdiction of each intermediate entity; and
(b) an affidavit, in a format specified by the Board, that the resolution applicant is eligible/not eligible for the benefit of section 32A.”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./555/2025-26]
Download Notification Click Here >>
Note: The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 were published vide notification No. IBBI/2016- 17/GN/REG004, dated 30th November, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, No. 432 on 30th November, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Sixth Amendment) Regulations, 2025 published vide notification No. IBBI/2025-26/GN/REG130, dated the 14th October, 2025 in the Gazette of India, Extraordinary, Part III, Section 4, No.676 on 14th October, 2025.
Change in the address of Debts Recovery Appellate Tribunal, Allahabad with effect from 11.12.2025 Ministry of Finance(Department of Financial Service)…
Updated list of banks authorised by Reserve Bank of India to import only gold for FY 2025-26 with effect from…
Under percentage completion method, selling/Admin costs are allowable despite no revenue declared as per guidance note of ICAI. In a…
AO cannot use reverse computation of gross payment using TDS amount to determine the amount disallowable u/s 40(a)(ia) - ITAT…
Once loans were repaid in subsequent assessment years with cogent evidences then the addition u/s 68 of the Income Tax…
Viksit Bharat Guarantee for Rozgar & Ajeevika Mission (Gramin), In short VB-GRAM-G notified Government has notified Viksit Bharat Guarantee for…