Liquidation: liquidator may modify the list of stakeholders on new information and intimate the Adjudicating Authority within 30 days — IBBI Fifth Amendment Regulations, 2026
IBBI has amended regulation 31 of the Liquidation Process Regulations, 2016. Sub-regulations (3) and (4) are replaced by a single sub-regulation (3): the liquidator may modify an entry in the list of stakeholders when he comes across additional information warranting it, and shall intimate the Adjudicating Authority within thirty days of the modification. The amendment is in force from its publication in the Official Gazette.
Key facts
- In force
- From publication in the Official Gazette (Gazette issue dated 22 September 2026)
- Who it affects
- Liquidators, insolvency professionals, and stakeholders (creditors and other claimants) of corporate debtors in liquidation
- What it is
- Rule change
- Section
- Insolvency
- Published
- 22 September 2026
In 30 seconds
- Notification No. IBBI/2026-27/GN/REG154 is dated 22 September 2026.
- It is the IBBI (Liquidation Process) (Fifth Amendment) Regulations, 2026.
- In regulation 31, sub-regulations (3) and (4) are substituted by one new sub-regulation (3).
- The liquidator may modify an entry in the list of stakeholders on additional information warranting the modification.
- The Adjudicating Authority is to be intimated within thirty days of the modification.
- The regulations come into force on the date of their publication in the Official Gazette.
हिंदी में सार
IBBI ने 22 सितंबर 2026 की अधिसूचना से परिसमापन प्रक्रिया (पाँचवाँ संशोधन) विनियम, 2026 बनाए हैं। विनियम 31 के उप-विनियम (3) और (4) की जगह एक नया उप-विनियम (3) आया है: अतिरिक्त जानकारी मिलने पर परिसमापक हितधारकों की सूची की प्रविष्टि बदल सकेगा और बदलाव की तारीख से तीस दिन के भीतर न्यायनिर्णायक प्राधिकरण को इसकी सूचना देगा। विनियम राजपत्र में प्रकाशन की तारीख से लागू हैं।
What IBBI has changed
The Insolvency and Bankruptcy Board of India has notified the IBBI (Liquidation Process) (Fifth Amendment) Regulations, 2026 by Notification No. IBBI/2026-27/GN/REG154 dated 22 September 2026. They are made under clauses (aa) and (t) of section 196(1) read with section 240 of the Insolvency and Bankruptcy Code, 2016.
The amendment is a single change to regulation 31 of the IBBI (Liquidation Process) Regulations, 2016. Sub-regulations (3) and (4) are taken out and one sub-regulation is put in their place.
The new sub-regulation (3)
It reads: “The liquidator may modify an entry in the list of stakeholders when he comes across additional information warranting such modification, and shall intimate the Adjudicating Authority regarding such modification, within thirty days of such modification.”
| Element | What the new text provides |
|---|---|
| Who acts | The liquidator |
| What can be done | Modify an entry in the list of stakeholders |
| When | On coming across additional information that warrants the modification |
| What follows | Intimation of the modification to the Adjudicating Authority |
| Time limit | Within thirty days of the modification |
As worded, the liquidator makes the modification first and then intimates the Adjudicating Authority; the thirty days run from the date of the modification.
What the notification does not set out
The notification does not reproduce the two sub-regulations it replaces, so the earlier procedure cannot be stated from this document. It also does not say how the amendment applies to modifications already under way.
Commencement
The regulations come into force on the date of their publication in the Official Gazette. They appear in the Gazette of India, Extraordinary, Part III, Section 4, issue No. 570 dated 22 September 2026.
Where this sits in the regulations
The footnote records that the Liquidation Process Regulations were first published on 15 December 2016 and were last amended by the Fourth Amendment Regulations, 2026 — notification dated 1 June 2026, published in the Gazette on 2 June 2026.
What liquidators should do
When additional information calls for a change in the list of stakeholders, record the information relied on, make the modification, and send the intimation to the Adjudicating Authority within thirty days of the date of modification. Keep the date of each modification on file, since the time limit is counted from it.
Questions and answers
What does the Fifth Amendment change?
It substitutes sub-regulations (3) and (4) of regulation 31 of the IBBI (Liquidation Process) Regulations, 2016 with a single new sub-regulation (3) on modification of the list of stakeholders.
Can a liquidator change the list of stakeholders?
Yes. Under the new sub-regulation (3), the liquidator may modify an entry in the list of stakeholders when he comes across additional information warranting such modification.
What must the liquidator do after modifying an entry?
Intimate the Adjudicating Authority regarding the modification within thirty days of the modification.
From when is the amendment in force?
From the date of publication of the regulations in the Official Gazette. The Gazette issue carrying them is dated 22 September 2026.
Published 22 September 2026. Updated 8 October 2026. This report is for general information and is not professional advice. Read the source document before acting on it.