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of <h1>IBBI Introduces 2023 Amendments to Insolvency Professionals Regulations: New Application Process, Fees, and Registration Changes.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has issued the Second Amendment Regulations, 2023, to the Insolvency Professionals Regulations, 2016. Effective from September 18, 2023, the amendments include changes to the application process for insolvency professionals, such as a revised timeline for pre-registration educational courses and application fees. The regulations now require insolvency professional entities to apply through their respective agencies with a non-refundable fee. Additionally, the amendments introduce procedures for the surrender and cancellation of registration certificates and specify timelines for processing applications and actions on membership status changes. New forms for enrolment and registration applications have also been introduced.
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