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IBBI proposes bidders disclose beneficial ownership in entities
Business Standard
|November 08, 2025
In order to prevent the misuse of Insolvency and Bankruptcy Code’s (IBC’s) “clean slate” concept, the insolvency regulator has proposed detailed disclosures by bidders on beneficial ownership of their entities.
The Insolvency and Bankruptcy Board of India (IBBI) has invited public comments on its proposed template of disclosures released in a discussion paper titled “Measures to Enhance Integrity of the Corporate Insolvency Resolution Process”.
“The template requires the prospective resolution applicant (PRA) to disclose all natural persons having ultimate ownership or control, together with jurisdictional and structural details of all intermediate entities forming part of the ownership chain,” the IBBI said.
The draft template, the insolvency regulator said, has been modelled on the latest regulatory framework prescribed by the Reserve Bank of India (RBI) aligning the insolvency framework with other financial sector regulations.
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