IBBI Streamlines Inspection and Investigation Framework Under IBC
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- Last Updated on 4 June, 2026
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Notification F. No. IBBI/2026-27/GN/REG145, Dated 01.06.2026
The Insolvency and Bankruptcy Board of India (IBBI) has amended the Inspection and Investigation Regulations, 2017 to strengthen the regulatory framework governing inspections and investigations under the Insolvency and Bankruptcy Code, 2016 (IBC).
The amendments revise the constitution of inspection and investigation authorities, align key definitions with the Code, expand regulatory powers and streamline procedural requirements.
1. Constitution of Inspection and Investigation Authorities Revised
The amended regulations revise the framework relating to the constitution of authorities responsible for conducting inspections and investigations.
The changes are intended to strengthen regulatory oversight and improve the effectiveness of inspection and investigation processes undertaken by the Board.
2. Definition of “Service Provider” Aligned With the IBC
The regulations have been amended to align the definition of “service provider” with Section 3(31A) of the Insolvency and Bankruptcy Code, 2016.
This amendment ensures consistency between the regulatory framework and the statutory definitions contained in the Code.
3. Power to Issue Directions Introduced
A significant amendment enables the Board to issue directions in addition to taking other regulatory actions under the inspection and investigation framework.
The enhanced power is intended to provide greater regulatory flexibility and facilitate timely corrective measures where deficiencies, non-compliance or irregularities are identified.
4. Prescribed Forms Replaced With Formats Notified by the Board
The amended regulations replace prescribed forms contained in the Regulations with a framework under which relevant formats shall be:
- Notified separately by the IBBI; and
- Updated as required from time to time
This approach allows procedural requirements to be modified more efficiently without necessitating formal amendments to the Regulations.
5. Form A Omitted
The amendments also specifically provide for the omission of Form A from the regulations.
The removal forms part of the broader shift towards notification of formats through separate circulars or directions issued by the Board.
6. Objective of the Amendments
The amendments aim to strengthen the inspection and investigation framework under the Insolvency and Bankruptcy Code by improving regulatory flexibility, ensuring consistency with statutory provisions and enhancing the Board’s supervisory powers.
By revising authority structures, aligning definitions, enabling issuance of directions and simplifying procedural requirements, IBBI seeks to make the inspection and investigation process more effective and responsive to evolving regulatory needs.
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