Fee revision for insolvency professionals: increased application, annual and regulatory levies now payable to the IBBI under amended regulations. The Insolvency and Bankruptcy Board of India has amended regulations to revise one time application, periodic renewal and annual fees for Insolvency Professionals and Insolvency Professional Entities, and has introduced specified regulatory fee levies related to approved resolution plans and costs for hiring professionals; the circular prescribes applicable forms, submission modes and bank payment details where online modules are not yet implemented.
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Fee revision for insolvency professionals: increased application, annual and regulatory levies now payable to the IBBI under amended regulations.
The Insolvency and Bankruptcy Board of India has amended regulations to revise one time application, periodic renewal and annual fees for Insolvency Professionals and Insolvency Professional Entities, and has introduced specified regulatory fee levies related to approved resolution plans and costs for hiring professionals; the circular prescribes applicable forms, submission modes and bank payment details where online modules are not yet implemented.
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