The Board issues Regulations in line with India's Insolvency and Bankruptcy Board (Mechanism for Issuing Regulations) Regulations, 2018. The Board also issues Circulars in exercising powers under section 196 of the Insolvency and Bankruptcy Code, 2016. In line with the same, the Board conducted an exercise of review of the board's circulars. It was observed that certain circulars are no longer required on account of being already provided in IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 or IBBI (Insolvency Professionals) Regulations, 2016 as the case may be. After reviewing the circulars, it has been decided to rescind the circulars listed in the Annexure, with immediate effect.
Circular No. IBBI-CIRP-3-2022 Dt. 23-5-2022
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