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of <h1>India Amends Insolvency Regulations: New Fees, Timely Notifications, and Compliance Forms for Professionals and Entities.</h1> The Insolvency and Bankruptcy Board of India issued the Second Amendment Regulations, 2018, modifying the Insolvency Professionals Regulations, 2016. Key changes include a mandatory fee of ten thousand rupees every five years for insolvency professionals, along with an annual fee of 0.25% of the professional fee earned. Entities must pay a similar percentage of their turnover. Amendments also require timely notifications to the Board regarding changes in directors or partners, with associated fees. Delays in fee payments incur a 12% annual interest. New forms for compliance reporting are introduced, enhancing regulatory oversight.
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