Relaxations to IPs and IPEs under IBBI regulations | IBBI
The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2021 had been notified. It is effective w.e.f. 27th April, 2021. It brings out following amendments: 1. Amendment in Regulation 7(2)(ca) [Conditions relating to Certificate of registration to Insolvency Professionals] : As per this regulation, insolvency professional shall pay 0.25% of the professional fee earned for the services rendered by him as an insolvency professional in the preceding financial year, on or before the 30th of April every year. After amendment, for FY 2020-21 , this time period has been extended till 30 th June 2021 i.e. IPs can pay fees till 30 th June 2021. 2. Amendment in Regulation 13(2) [Conditions for granting Certificate of reco...