Insolvency and Bankruptcy Code 2016 with Rules – Bare Act with Section Notes By Taxmann’s Editorial Board

Insolvency and Bankruptcy Code 2016 with Rules [Bare Act with Section Notes] by Taxmann presents the complete, amended text of the Code as it stands after the Insolvency and Bankruptcy Code (Amendment) Act 2026, with the amendments enforced with effect from 26-05-2026.

The 2026 Amendment is among the most far-reaching since the Code’s enactment—introducing novel concepts and rewriting large parts of the corporate insolvency and liquidation machinery. To make a change of this magnitude usable, this Edition pairs the amended bare text with rich Section Notes under each provision and a dedicated set of front-matter analytical aids that explain what changed, why, and how the position now differs from the pre-amended law. Division Two then reproduces the entire suite of allied Rules and Regulations—as amended—making this a single, self-contained working reference on the Code and its subordinate legislation.

This book is intended for the following audience:

• Insolvency Professionals, Interim Resolution Professionals, Resolution Professionals and Liquidators
• Advocates, Counsel and Law Firms practising before the NCLT, NCLAT, DRT and other forums
• Chartered Accountants, Company Secretaries, Cost Accountants and Registered Valuers advising on CIRP, liquidation, pre-pack and personal-guarantor matters
• Banks, NBFCs, ARCs and the Credit, Monitoring and Recovery Teams of financial and operational creditors
• Promoters, Directors, and In-House Legal, Finance and Compliance Teams of corporate debtors and guarantors
• Members of Adjudicating Authorities, the Judiciary and Regulatory Officials
• Academicians, Researchers and Students of insolvency and commercial law

The Present Publication is the 9^th Edition, covering the amended and updated text of the Insolvency and Bankruptcy Code [Act No. 31 of 2016] and Rules, updated till 26^th May 2026. The noteworthy features of this book are as follows:

• [Section-wise Annotation] Section Notes under every provision are the headline feature of the series. Each section carries its marginal heading and is followed by structured, topic-wise notes that break the provision into navigable sub-points. For Section 7, for example, the notes run from filing and joint filing, through default and the 14-day ascertainment, to admission—so the reader works with a section-wise commentary rather than raw text
• [Dedicated 2026-Amendment Notes] Each affected section carries a focused note on the change, set apart and clearly flagged with its enforcement position (Enforced w.e.f. 26-05-2026), so operative provisions and those still awaiting notification are never confused
• [Complete Legislative History] Every insertion, substitution and omission is footnoted at the foot of the section, naming the amending Act and the effective date, with the earlier language preserved for comparison. Newly inserted text is set in square brackets so changes are visible at a glance
• [Integrated Case Law] Judicial precedents are woven into the notes, anchoring provisions in decided case law where relevant
• [Comparison Boxes] Newly introduced mechanisms (such as the Creditor-Initiated Insolvency Resolution Process) are placed beside the existing process for quick orientation
• [Analytical Aids on the 2026 Amendment] Three aids appear up front
  • An ‘amendments at a glance’ table mapping each section to its effective date and the nature of the change
  • A narrative Guide that walks through the full set of changes
  • A two-part comparative study—a résumé of the amendments followed by a clause-by-clause, section-wise comparison of the pre-amended and amended positions
• [All-in-One Compilation] The amended Code and all 17 allied Rules and Regulations (each reproduced as amended) sit together in a single volume, removing the need to consult separate compilations
• [Built-in Navigation] An Arrangement of Sections, an Appendix reproducing provisions of other Acts referred to in the Code, and a Subject Index aid quick reference

The book is organised into two divisions, preceded by the three analytical aids on the 2026 Amendment.

• Division One | The Code — The Arrangement of Sections, then the amended text with Section Notes, followed by the Appendix, the Subject Index, the full text of the IBC (Amendment) Act 2026, and the enforcement Notification. The Code closes with twelve Schedules—the First to Eleventh.
• Division Two | Rules and Regulations — 17 in all, reproduced in full text and as amended)
  • IBBI (Insolvency Professional Agencies) Regulations 2016
  • IBBI (Insolvency Professionals) Regulations 2016
  • IB (Application to Adjudicating Authority) Rules 2016
  • IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016
  • IBBI (Liquidation Process) Regulations 2016
  • IBBI (Voluntary Liquidation Process) Regulations 2017
  • IBBI (Procedure for Governing Board Meetings) Regulations 2017
  • IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations 2017
  • IBBI (Inspection and Investigation) Regulations 2017
  • Companies (Registered Valuers and Valuation) Rules 2017
  • IB (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules 2019
  • IB (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules 2019
  • IB (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules 2019
  • IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations 2019
  • IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations 2019
  • IB (Pre-packaged Insolvency Resolution Process) Rules 2021
  • IBBI (Pre-packaged Insolvency Resolution Process) Regulations 2021