The Insolvency and Bankruptcy Board of India vide notification dated 20th September, 2022 has issued the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Third Amendment) Regulations, 2022. The amendment has provided that where the insolvency professional is an insolvency professional entity, it shall pay to the Board, a fee calculated at the rate of one percent of professional fee earned for the services rendered as an insolvency professional in the preceding financial year on or before the 30th day of April every year, along with a statement in Form G.
