Regulation 34B - Fee to be paid to interim resolution professional and resolution professional
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016 Chapter IX INSOLVENCY RESOLUTION PROCESS COSTS
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Fee for insolvency resolution professionals fixed with minimums, committee may set higher fees and grant performance-linked incentives. The applicant or committee shall decide the fee of the interim resolution professional or resolution professional; for appointments on or after 1 October 2022 a prescribed minimum fee applies for an initial Schedule II period, subject to upward adjustment by the applicant or committee with recorded reasons based on market factors; after that period fees are as decided by the applicant or committee. The committee may also adopt a performance linked incentive structure for plans approved on or after 1 October 2022. Fees and incentives may be paid from corporate debtor funds, applicant or committee contributions, or interim finance and are included in the insolvency resolution process cost.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fee for insolvency resolution professionals fixed with minimums, committee may set higher fees and grant performance-linked incentives.
The applicant or committee shall decide the fee of the interim resolution professional or resolution professional; for appointments on or after 1 October 2022 a prescribed minimum fee applies for an initial Schedule II period, subject to upward adjustment by the applicant or committee with recorded reasons based on market factors; after that period fees are as decided by the applicant or committee. The committee may also adopt a performance linked incentive structure for plans approved on or after 1 October 2022. Fees and incentives may be paid from corporate debtor funds, applicant or committee contributions, or interim finance and are included in the insolvency resolution process cost.
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