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REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-21112025-267887
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
No. 752]
NEW DELHI, FRIDAY, NOVEMBER 21, 2025/KARTIKA 30, 1947
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 20th November, 2025
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to
Corporate Debtors) (Amendment) Regulations, 2025.
F. No. IBBI/2025-26/GN/REG131.—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) (Second 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. (hereinafter referred to as 'the principal regulations'), after regulation 22, the
following shall be inserted, namely:
"Regulation 23. Filing of Forms
(1) The resolution professional shall file the Forms, along with enclosures thereto, as notified by the Board
through circular, as per the timelines stipulated against each Form.
(2) The Board shall make available the Forms referred to in sub-regulation (1) on the electronic platform and
may modify them from time to time.
(3) The resolution professional shall ensure that the Forms and its enclosures filed under this regulation are
accurate and complete.
(4) The filing of a Form under this regulation after the due date of submission, whether by correction, updation
or otherwise, shall be accompanied by a fee of five hundred rupees per Form for each calendar month of delay
after the date notified by the Board.
(5) The resolution professional shall be liable to any action which the Board may take as deemed fit under the
Code or any regulation made thereunder, including refusal to issue or renew Authorisation for Assignment,
for -
(i) failure to file a Form along with requisite information and records;
(ii) inaccurate or incomplete information or records filed in or along with a Form; or
(iii) delay in filing the Form.”
RAVI MITAL, Chairperson
[ADVT.-III/4/Exty./487/2025-26]
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/2025-26/GN/REG125_dated the 19th May, 2025 in the Gazette of India,
Extraordinary, Part III, Section 4, No. 374 on 19th May, 2025.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
AMIT KUMAR JAISWAL