TaxTMI 
TaxTMI 
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018
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.... India (Insolvency Professionals) Regulations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018. (2) They shall come into force on the date of publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as the principal regulations), in regulation 7, in sub-regulation (2), for clause (c), the following clauses shall be substituted, namely: - "(c) pay to the Board, a fee of ten thousand rupees, every five years after the year in which the certificate is granted and such fee shall be paid on or before t....
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....sand rupees; (ca) pay to the Board, a fee calculated at the rate of 0.25 percent of the turnover from the services rendered by it in the preceding financial year, on or before the 30th of April every year, along with a statement in Form G of the Second Schedule; and". 5. In the principal regulations, after regulation 14, the following regulation shall be inserted, namely: - "15. Interest.- Without prejudice to any other action which the Board may take as deemed fit under the Code or any regulations made thereunder, any delay in payment of fee by an insolvency professional or an insolvency professional entity, a simple interest at the rate of 12% per annum on the amount of fee unpaid shall be paid to the Board after the last date of....
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....d in this statement is true and correct in all material respects and ii. no material information relevant for the purpose of this statement has been suppressed. Yours faithfully, ----------------- (Name) (Registration Number) Place: Date: ------------- FORM F [Under Regulation 13 (2) (b) and 13 (2) (c) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016] To The General Manager (IPE Division) Insolvency and Bankruptcy Board of India Subject: Information of cessation/joining of a Director / Partner in an insolvency professional entity. Sir / Madam, I, [Insert name], being duly authorized for the purpose, submit the following information in compliance w....
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....er Joined as Whole Time Director? c. Date of Filing of Joining with the Concerned Authority 4. Composition of the Board / Partnership of the IPE before and after cessation/joining of the Director / Partner Sl. No. Composition (Before) Composition (After) Name of the Director/ Partner Designation (Whole Time Director / Director / Partner) Status as an IP Name of the Director/ Partner Designation (Whole Time Director / Director / Partner) Status as an IP Yes / No If yes, IP Registration Number Yes / No If yes, IP Registration Number 1 &nbs....
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....ose, hereby submit the annual statement of turnover (whether received or not) from services rendered by the (write name of the insolvency professional entity) in the financial year [insert financial year], as under: Sl. No. Name of Debtor Name of IP who rendered services as IRP / RP / Liquidator / Trustee / Other, if any Broad description of kind of service rendered Turnover from services rendered in the year (In Rs.) 1 2 3 Total 2. The following amounts are payable to the Board: Sl. No. Under regulation Amount Payable (Rs.) ....