Regulation 18

(1) The following persons shall not purchase or acquire any interest in the property of guarantor, directly or indirectly, without permission of the Adjudicating Authority – (a) the resolution professional or any partner or director of the insolvency professional entity of which the resolution professional is a partner or director; (b) any professional appointed by the resolution professional for the resolution process; (c) any creditor; (d) any company where the guarantor or a creditor is a promoter or director; (e) any associate of the guarantor, creditor or resolution professional. 11 Inserted by Notification No. IBBI/2023-24/GN/REG107, dated 31st January 2024 (w.e.f. 31.01.2024). 12 Inserted by Notification No. IBBI/2025-26/GN/REG125, dated 19th May, 2025 (w.e.f. 19-05-2025). 13 Substituted by Notification No. IBBI/2026-27/GN/REG149, dated 01st June, 2026 (w.e.f. 02-06-2026). Before substitution, the words stood as under: “intimating the non-submission of a repayment plan and seek appropriate directions”.

(2) The Adjudication Authority may set aside purchase or acquisition made contrary to the provisions of this regulation and may make such order as it may deem fit.