◇ The Insolvency and Bankruptcy Board of India vide its circular dated has increased the examination fee for limited Insolvency and Valuation examination from Rs.1,500 plus applicable GST, i.e. Rs.1,770 to Rs. 5,000+ applicable GST, i.e. Rs. 5,900 for each enrolment on or after 01st October 2022
◇ The circular stated:
1.IBBI conducts the Limited Insolvency Examination (LIE) in pursuance to regulation 3 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. The said regulation inter-alia empowers IBBI to determine the syllabus, format and frequency of the examination to test the knowledge and application of knowledge of individuals in the areas of insolvency, bankruptcy and allied subjects.
2.IBBI, as the designated Authority, conducts the Valuation Examinations in three assets class, in pursuance to Rule 5 of the Companies (Registered Valuers and Valuation) Rules, 2017. The said rule inter-alia empowers IBBI to determine the syllabus, format and frequency of the examination, to test candidate’s professional knowledge, skills, values and ethics in respect of valuation.
3.Presently, the examination fee of Rs. 1,500+ applicable GST, i.e. Rs.1,770 is payable per enrolment for each of these exams. It has been decided that the fee of Rs. 5,000+ applicable GST, i.e. Rs. 5,900 for the LIE or Valuation Examinations shall be payable for each enrolment on or after 01st October 2022.
4.This circular is being issued in exercise of the powers conferred under the provisions of section 196 of the Insolvency and Bankruptcy Code, 2016, Regulations made thereunder and the Valuation Rules.
Circular:
