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of <h1>New Amendment: Insolvency Agencies Must Pay Annual Fee of Five Lakh Rupees; Late Payments Incur 12% Interest.</h1> The Insolvency and Bankruptcy Board of India issued an amendment to the Insolvency Professional Agencies Regulations, 2016, effective from its publication date. The amendment requires insolvency professional agencies to pay an annual fee of five lakh rupees to the Board within fifteen days from the start of the financial year. However, no fee is required in the year of registration or renewal. Delays in payment will incur a twelve percent annual interest. This regulation clarifies the fee schedule and interest implications for late payments, ensuring compliance with the Insolvency and Bankruptcy Code, 2016.
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