Regulation 15 - Interest - Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016

1 [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 payment of fee under these regulations. ] ******* Notes 1. Inserted vide Notification No. IBBI/2018-19/GN/REG036 dated 11-10-2018