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

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-23122025-268763 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 819] NEW DELHI, TUESDAY, DECEMBER 23, 2025/PAUSHA 2, 1947 8620 GI/2025 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) (b) 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 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] 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. 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. SARVESH KUMAR Digitally signed by SARVESH KUMAR SRIVASTAVA SRIVASTAVA 21 21:10:59+05:30