Amendments in the Insolvency & Bankruptcy Law

IBBI Updates May 2024

1. Uploading of judicial orders related to insolvency proceedings by Insolvency Professionals

Insolvency Professionals (IPs) have been uploading information related to public announcements, claims, invitations for resolution plans, and auction notices on the website of IBBI. Additionally, to enhance the facilitation of various stakeholders, IBBI also hosts judicial orders passed by different courts and tribunals related to insolvency proceedings on its website at It all forms part of the facilitation of stakeholders in the IBC ecosystem.

As IPs have first-time access and information on all the important judicial orders affecting the processes handled by them under the Insolvency and Bankruptcy Code, 2016 (Code), it has been decided that the IPs shall upload below-mentioned judicial orders of their respective assignments on their dashboard.

This would also ensure that the important judicial orders that have a significant impact on the ongoing processes under the Code are available for the facilitation of stakeholders on time.

Specifically, the IPs are directed to upload the following types of orders:

1. For the National Company Law Tribunal (NCLT), and National Company Law Appellate Tribunal (NCLAT), the following categories of orders are to be uploaded:

  1. Admission order;
  2. Approval of Resolution plan order;
  3. Closure of insolvency process through withdrawal u/s 12A / appeal/ review or settlement;
  4. Stay of insolvency process;
  5. Liquidation order;
  6. Dissolution order;
  7. Final order on preferential, undervalued, fraudulent, extortionate credit transactions and fraudulent and wrongful trading;
  8. Any order having actionable points for IBBI.

2. For Supreme Court (SC) and High Court (HC), all orders are to be uploaded:

  1. Orders relate to categories for NCLT /NCLAT, as mentioned above;
  2. IBBI / Ministry of Corporate Affairs is a party; and
  3. the case deals with any important issues relating to vires, interpretation, and applicability of the provisions of the Code, Rules, and Regulations.

Accordingly, IPs are directed to regularly upload the aforesaid judicial orders of aforesaid categories about their assignments. These orders shall be uploaded after downloading from the official websites of the respective judicial forums i.e. NCLT, NCLAT, HC, and SC, as the case may be.

The link to the aforesaid Circular is as follows:

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