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of <h1>IBBI Second Amendment 2023: Insolvency Professionals Barred from Fee Sharing to Prevent Conflicts of Interest in Proceedings.</h1> The Insolvency and Bankruptcy Board of India (IBBI) issued the Second Amendment to the Insolvency Professionals Regulations, 2016, effective from its publication date in the Official Gazette. The amendment introduces clause 26A, prohibiting insolvency professionals from accepting or sharing fees with any professional or support service provider appointed under the processes. This regulation aims to maintain the integrity of insolvency proceedings by preventing potential conflicts of interest. The amendment follows previous changes made in July 2022 and continues to refine the regulatory framework established in November 2016.
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