In exercise of the powers conferred by clause t of sub section 1 of section 196, section 240 read with clause

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-21052025-263268 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 374] NEW DELHI, MONDAY, MAY 19, 2025/VAISAKHA 29, 1947 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 19th May, 2025 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2025. No. IBBI/2025-26/GN/REG125.— In exercise of the powers conferred by clause (t) of sub-section (1) of section 196, section 240 read with clause (e) of section 2 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 Personal Guarantors to Corporate Debtors) Regulations, 2019, namely:- 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (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 Personal Guarantors to Corporate Debtors) Regulations, 2019, after regulation 17A, the following regulation shall be inserted, namely: - "17B. Non-submission of repayment plan Where no repayment plan has been prepared by the debtor under section 105 of the Code, the resolution professional shall file an application, with the approval of creditors, before the Adjudicating Authority intimating the non-submission of a repayment plan and seek appropriate directions." RAVI MITAL, Chairperson [ADVT.-III/4/Exty./107/2025-26] Note: The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 were published vide notification No. IBBI/2019-20/GN/REG050, dated 20th November, 2019 in the Gazette of India, Extraordinary, Part III, Section 4, No. 413 on 20th November, 2019 and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2024 published vide notification No. IBBI/2023- 24/GN/REG107, dated the 31st January, 2024 in the Gazette of India, Extraordinary, Part III, Section 4, No. 71 on 31st January, 2024.