Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2022

Sep 14, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation Compliancehe Insolvency and Bankruptcy Board of India (IBBI) on September 13, 2022, notified the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2022 to further amend the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.

The following amendment has been made-

In the First Schedule, after clause 26, the “26A. An insolvency professional shall not accept /share any fees or charges from any professional and/or support service provider who are appointed under the processes.”  clause shall be inserted.

They shall come into force on the date of their publication in the Official Gazette.

[Notification No. IBBI/2022-23/GN/REG092]


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