Overview

• The Insolvency and Bankruptcy Board of India notified its Fourth Amendment on May 26 to the Insolvency Resolution Process for Corporate Persons.
• Resolution professionals can now, with Committee of Creditors approval, invite expressions of interest for standalone assets or asset combinations.
• The revised staged-payment framework ensures dissenting financial creditors receive pro rata payouts ahead of those who backed the plan.
• Committees of Creditors may require interim finance providers to attend meetings as non-voting observers to enhance funding transparency.
• Resolution professionals must present all received plans, including non-compliant bids, to the CoC with relevant details for comprehensive review.