December 07, 2020
Summary of the clarification issued by IBBI on 04/12/2020
Computation of fee payable for delay in filings under regulation 40B of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
IBBI has clarified that a fee of Rs. 500 shall be payable for filing of each form under Regulation 40B of CIRP Regulations, 2016, only for the period that lapses between the due date of filing a form or 1st October, 2020, whichever is later, and the actual date of filing the said Form.
Any instance of fee paid higher than the stipulated amount under Regulation 40B, as indicated in the said clarification, will be refunded by the Board.
This clarification is integrated in our free-to-use website www.ca2013.com for your ready reference.