The Insolvency and Bankruptcy Board of India on 13th September 2022, has published 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 amendment is brought under the First Schedule which deals with code of conduct for insolvency professional in which a new clause 26A has been inserted as follows:
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.
