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of <h1>Regulation 33: Applicant Must Cover Interim Resolution Professional Costs, Subject to Committee Ratification and Reimbursement.</h1> Regulation 33 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, outlines the costs associated with the interim resolution professional (IRP) during the insolvency resolution process. The applicant is responsible for fixing and initially bearing these expenses, which are subject to ratification and reimbursement by the committee. If the applicant does not fix the expenses, the Adjudicating Authority will do so. These expenses include fees for the IRP, any insolvency professional entity, and other professionals involved, and are considered part of the insolvency resolution process costs.
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