IBBI Revises Documentation Requirements for Pre-Pack Insolvency

Notification F. No. IBBI/2026-27/GN/REG147, Dated 01.06.2026

The Insolvency and Bankruptcy Board of India (IBBI) has amended the Pre-Packaged Insolvency Resolution Process (PPIRP) Regulations, 2021 to align the regulatory framework with recent amendments to the Insolvency and Bankruptcy Code, 2016 (IBC) and streamline procedural requirements governing pre-pack insolvency proceedings.

The amendments revise the information and documentation requirements for applicants, replace prescribed forms with Board-notified formats and modify procedural provisions relating to commencement and conduct of the pre-pack process.

1. Information and Documents Required Under Section 54C Revised

The amended regulations revise the information and documents that applicants are required to furnish while filing an application under Section 54C of the Insolvency and Bankruptcy Code, 2016.

The revised framework seeks to ensure that relevant information supporting commencement of the pre-packaged insolvency process is submitted in a more structured and updated manner.

2. Procedural Requirements Aligned With Recent Amendments

The amendments align the procedural framework governing:

• Commencement of the pre-packaged insolvency resolution process;
• Conduct of the resolution process; and
• Compliance requirements during the course of the proceedings.

The changes are intended to ensure consistency between the Regulations and the amended provisions of the Insolvency and Bankruptcy Code.

3. Prescribed Forms Replaced With Board-Notified Formats

A significant amendment relates to the treatment of prescribed forms under the Regulations.

Instead of incorporating forms directly within the Regulations, the amended framework provides that relevant formats shall be:

• Notified separately by the IBBI; and
• Updated through circulars or notifications as required.

This approach enables quicker modification of procedural requirements without the need for formal regulatory amendments.

4. Schedule Omitted

The amendments also provide for the omission of the Schedule contained in the existing Regulations.

The omission forms part of the broader restructuring of procedural and documentation requirements under the revised framework.

5. Impact on Applicants and Stakeholders

Applicants initiating a pre-packaged insolvency resolution process will be required to comply with the revised documentation and procedural requirements prescribed by the amended regulations and subsequent formats notified by the Board.

The revised framework is intended to facilitate greater clarity and consistency in the conduct of PPIRP proceedings.

6. Objective of the Amendments

The amendments seek to streamline the pre-packaged insolvency resolution framework, improve procedural efficiency and ensure alignment with recent changes made to the Insolvency and Bankruptcy Code, 2016.

By revising filing requirements, replacing prescribed forms with Board-notified formats and updating procedural provisions, IBBI aims to enhance the effectiveness and adaptability of the pre-pack insolvency regime.

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