Amendments in various fees payable to IBBI under Insolvency and Bankruptcy Code, 2016

Amendments in various fees payable to IBBI under Insolvency and Bankruptcy Code, 2016

Description/
Regulation
Old Provision New Provision
I. Regulatory Fee
Regulatory Fee

CIRP-31A(1)




No provision
A regulatory fee calculated at the rate of 0.25% of the realisable value to creditors under the resolution plan approved u/s 31, shall be payable to the IBBI, where such realisable value is more than the liquidation value.(Applicable where resolution plan is approved u/s 31, on or after 01.10.2022).

The fee payable to the Board under regulation 31A is part of CIRP cost u/r 31(ba).
Regulatory Fee

CIRP-31A(2)

IP-7(2)(cd)


No provision

1% of the cost being booked in CIRP costs in respect of hiring any professional or other services by the IRP/RP for assistance in a CIRP, shall be payable to the IBBI.

Pay within a period of thirty days, after end of each quarter or upon closure of the processes whichever is earlier, along with a statement in Form EA of the Second Schedule.
II. Fee from Insolvency Professionals(IP) and Insolvency Professional Entity(IPE)
Registration as Insolvency Professional
IP-6
Application fee of Rs. 10,000/- to the IBBI Application fee of Rs. 20,000/- to the IBBI
Registration as IPE
IP-12
Application fee of Rs. 50,000/- Application fee of Rs. 2 Lakh
Recurring Fee in every 5 years
IP-7(2)(c)
Rs. 10,000/- every five years after the year in which the certificate is granted IP is an individual: Rs. 20,000/-
IP is an IPE: Rs. 2,00,000/-,
Every 5 years after the year in which the certificate is granted and such fee shall be paid on or before the 30th April of the year it falls due.
Fix % of Professional Fee for IP

IP-7(2)(ca)
Fee calculated at the rate of 0.25% of the professional fee earned for the services rendered by him as an insolvency professional in the preceding financial year Fee calculated at the rate of 1% of the professional fee earned for the services rendered by him as an insolvency professional in the preceding financial year
     
Fix % of Professional Fee for IPE

IP-13
Fee calculated at the rate of 0.25% of the turnover from the services rendered by it in the preceding financial year, on or before the 30th of April every year Fee calculated at the rate of 1% of the turnover from the services rendered by it in the preceding financial year, on or before the 30th of April every year
III. Information Utilities
Registration Application Fee
IU-4(1)
Rs. 5 lakh Rs. 10 lakh
Renewal Fee
IU-4(1)
Rs. 5 lakh Rs. 10 lakh
Registration or Renewal Rs. 50 lakh Rs. 1 crore
Annual Fee Fix % of the Turnover Annual fee of Rs. 50 lakh 10% of the turnover from the services as an IU rendered in the preceding financial year, on or before 30th April every year

Here:
CIRP: IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

IP: IBBI (Insolvency Professionals) Regulations, 2016

IU: IBBI (Information Utilities) Regulations, 2017

Amendments List:

 

 


Act wise amended Rules and Regulations are available here: Click here for Rules & Regulation Dashboard.
For Notifications and Circulars, click here.
For bare acts, click here.

Go to Notifications and Circulars Dashboard