Insolvency and Bankruptcy Board of India (Information Utilities) (Second Amendment) Regulations, 2022

The Insolvency and Bankruptcy Board of India vide notification dated 20th September, 2022 has issued the Insolvency and Bankruptcy Board of India (Information Utilities) (Second Amendment) Regulations, 2022. They shall come into force with effect from 1st October 2022.

The amendment provides that where an information utility generates turnover amounting to Rs. 75 crore in the financial year 2022-23, it is liable to pay fee of Rs. 7.50 crore to the Board on or before 30th April 2023.

RECENT UPDATES