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of <h1>Individuals can seek in-principle approval to establish an insolvency professional agency from the Insolvency and Bankruptcy Board of India.</h1> Any individual seeking to establish an insolvency professional agency can apply for in-principle approval from the Insolvency and Bankruptcy Board of India, accompanied by a non-refundable fee of ten lakh rupees. The Board will grant approval if the applicant is deemed fit and proper and the proposed or existing company meets registration requirements. This approval is valid for up to one year and may include conditions. During this period, the company can apply for a certificate of registration without paying additional application fees.
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