The Insolvency and Bankruptcy Board of India (IBBI) may shortly go for some light touch regulations on the increasingly controversial aspect of fees quoted by insolvency professionals (IPs) handling corporate insolvency resolution processes (CIRP).
The regulations will seek to improve transparency (disclosures) and promote best practices in the area of compensation for IPs services commensurate with their qualification, experience and responsibilities, official sources said.
This is significant as concerns have been expressed in some CIRP cases that IPs in India are charging high fees that may not be reasonable and commensurate with the work being handled by them.
There have also been instances of abnormally low fees charged b…
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