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IBC Update: IBBI Tightens Disclosure Norms for PUFE Transactions and Information Memorandum Updates August 6, 2025
Published in: Alerts
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In a move aimed at enhancing transparency and stakeholder confidence, the IBBI has notified key amendments to the CIRP Regulations effective July 5, 2025. The amendments place a continuous obligation on the Resolution Professional to provide updates to the Information Memorandum and mandate the disclosure of all identified avoidance transactions (PUFE) within the IM itself.
The amended Regulation 38(2A) further provides a restriction on resolution plans from assigning PUFE transactions if not disclosed prior to plan submission, unless the plan has already been filed before the Adjudicating Authority. This marks a significant shift in the compliance landscape for CIRPs and strengthening procedural fairness.
Click here to read more about the amendment: https://lnkd.in/g2ivNHMG
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