IBBI Invites Public Suggestions on IBC Regulations to Simplify and Reduce Compliance Costs

The Insolvency and Bankruptcy Board of India (IBBI) has invited suggestions and comments from the public and regulated entities on all regulations notified under the Insolvency and Bankruptcy Code, 2016 (IBC), with the objective of simplifying processes, easing regulatory burdens, and reducing compliance costs. Empowered under Section 240 read with Sections 188 and 196 of the IBC, the IBBI adopts a transparent and consultative approach to regulation-making, actively encouraging stakeholder participation.

This initiative is also in line with the Budget 2023-24 announcement urging financial sector regulators to comprehensively review existing regulations and consider public inputs. Additionally, Regulation 7 of the IBBI (Mechanism for Issuing Regulations) Regulations, 2018 mandates a periodic review of regulations every three years based on specific criteria, including regulatory objectives, enforcement experience, and global best practices.

Stakeholders can submit their comments—either general or specific—on various IBBI regulations through the official portal at IBBI’s website by 30th June 2025. The feedback will be considered collectively and, following due process, the revised regulations are expected to be notified by 30th September 2025.

The step-by-step process to submit comments involves selecting the stakeholder category, regulation(s), type of comment (general/specific), and providing detailed observations. A wide range of regulations is open for review, including those governing Insolvency Professionals, CIRP, Liquidation, Personal Guarantors, and Pre-packaged Insolvency, among others.

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Press Release