Fee for Limited Insolvency Examination, valuers exam hiked from Rs 1,500 to Rs 1,770
The Insolvency and Bankruptcy Board of India (IBBI) has revised the fee for Limited Insolvency Examination and Valuation Examinations from Rs 1,500 to Rs 1,770 for each enrolment on or after 1st April, 2021.
The fee has to paid during enrolment and can be paid using debit card / net banking / credit card. The payment gateway charges, if any, shall be borne by the candidates.
The IBBI under the the provisions of section 196(1)(a) of the Insolvency and Bankruptcy Board Code to register insolvency professionals and as an ‘Authority’ under the Companies (Registered Valuers and Valuation) Rules, 2017 to register valuer professionals, has been conducting Limited Insolvency Examination from 31st December, 2016 and Valuation Examinations from 31st March, 2018 respectively.
The Limited Insolvency Examination is mandated under regulation 5 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 made under the Insolvency and Bankruptcy Code, 2016. It is one of the mandatory conditions for registration as an insolvency professional.
Meanwhile, the Ministry of Corporate Affairs (MCA) has delegated the powers and functions pertaining to Registered Valuers, as mentioned in Section 247 of the Companies Act, 2013, to the IBBI, through notification dated October 23, 2017. The Valuation Examination is mandated under Section 247 read with sections 458 and 469 of the Companies Act, 2013 (18 of 2013). It is one of the mandatory conditions for registration as a registered valuer with IBBI.
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