IBBI Increases Registration Fee For Information Utilities
The Insolvency and Bankruptcy Board of India (IBBI) has increased the registration fee for information utilities.
The Board has notified the Insolvency and Bankruptcy Board of India (Information Utilities) (Second Amendment) Regulations, 2022 to amend the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.
IBBI has modified Regulation 6 of the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. Regulation 6 deals with ‘Conditions for Registration’. The Board has modified the fee payable to the Board from 50 lakhs to one crore.
It also modifies a provision providing payment of an annual fee of fifty lakh rupees to the Board, within fifteen days from the date of commencement of the financial year to paying to the Board, a fee calculated at the rate of ten per cent of the turnover from the services as an information utility rendered in the preceding financial year, on or before 30th April every year.
