The Tax Publishers

Notification No. IBBI/2022-23/GN/REG087, dt. 14-06-2022

IBBI (Inspection and Investigation) (Amendment) Regulations, 2022

In exercise of the powers conferred under sections 196, 217, 218, 219, 220 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017, namely--

1.(1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2022.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 (hereinafter referred to as the principal regulations), in regulation 2, in sub-regulation (1),

(i) in clause (i), the word and shall be omitted.

(ii) in clause (j), after the word information utility the mark . shall be replaced with mark and word ; and.

(iii) after clause (j), the following clause shall be inserted, namely:--

(k) stakeholder means a stakeholder as defined in clause (j) of sub-regulation (1) of regulation 2 of the Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017.

3. In the principal regulations, for the word clients, wherever it occurs, the word stakeholders shall be substituted.

4. In the principal regulations, in regulation 10,

(i) in sub-regulation (1), for the words a copy of the draft investigation report the words the investigation report shall be substituted;

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