The circular no. IBBI/LIQ/61/2023 dated 28th September 2023 ...

Partial modification to IBBI circular on liquidators' fee under IBBI (Liquidation Process) Regulations, 2016. Certain paragraphs withdrawn, compliance deadline extended.

Circulars Insolvency and Bankruptcy

May 22, 2024

The circular no. IBBI/LIQ/61/2023 dated 28th September 2023 regarding liquidators' fee under Regulation 4 of IBBI (Liquidation Process) Regulations, 2016 has been partially modified. The Hon'ble Bombay High Court, in a case involving the Insolvency and Bankruptcy Board of India, invalidated Paragraphs 2.1 and 2.5 of the circular. Consequently, these paragraphs are withdrawn. Insolvency Professionals who have not complied with the circular are required to do so by 31st May 2024. This modification is made u/s 196 of the Insolvency and Bankruptcy Code, 2016.

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The circular no. IBBI/LIQ/61/2023 dated 28th September 2023 ...

Partial modification to IBBI circular on liquidators' fee under IBBI (Liquidation Process) Regulations, 2016. Certain paragraphs withdrawn, compliance deadline extended.

Circulars Insolvency and Bankruptcy

May 22, 2024

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