The amendment aims to regulate the workload and assignment limits of individual Insolvency Professionals (IPs) to avoid excessive over-commitment that could compromise the quality and timeliness of insolvency resolution or liquidation processes.

• Insertion of Regulation 7B — Assignment Limit:

“Number of Assignments.
7B. An insolvency professional who is not an insolvency professional entity, shall not at any point of time, have more than ten assignments in aggregate as interim resolution professional and resolution professional in a corporate insolvency resolution process and as a liquidator in a liquidation process, of which not more than three assignments shall have admitted claims exceeding one thousand crore rupees each:
Provided that an insolvency professional who is not an insolvency professional entity, already holding more such assignments than the limit specified in this regulation on the date of commencement of Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025, shall not accept any such new assignment until the number of his ongoing assignments falls below the limit specified in this regulation.”

• Amendment to Code of Conduct (First Schedule):

• • In clause 6, substitution of the words “the approval of the Board” with “the prior approval of the Adjudicating Authority”.
  • Omission of the clarification to clause 22 in the First Schedule.