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

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-25022026-270485 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 136] NEW DELHI, WEDNESDAY, FEBRUARY 25, 2026/PHALGUNA 6, 1947 1409 GI/2026 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 25th February, 2026 Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2026 F. No. IBBI/2025-26/GN/REG136.—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 (Liquidation Process) Regulations, 2016, namely: - 1. (1) These regulations may be called Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2026. (2) They shall come into force on the date of publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, (hereinafter referred to as 'the principal regulations'), in regulation 35, in sub-regulation (3), for the words “Companies (Registered Valuers and Valuation) Rules, 2017", the words "such valuation standards as notified by the Board through circular" shall be substituted. 3. In the principal regulations, in regulation 35, after sub-regulation (7), the following shall be inserted, namely:- "(8) For the purposes of this regulation, a registered valuer shall prepare the valuation report and maintain such documentation as per the format notified by the Board through circular." RAVI MITAL, Chairperson [ADVT.-III/4/Exty./713/2025-26] Note: The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 were published vide notification No. IBBI/2016- 17/GN/REG005, dated 15th December, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, vide No. 460 on 15th December, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2026 published vide notification No. IBBI/2025-26/GN/REG134, dated the 2nd January, 2026 in the Gazette of India, Extraordinary, Part III, Section 4, No.03 on 2nd January, 2026.