TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Professionals) (Third Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... end the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 , namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Third Amendment) Regulations, 2022. (2) They shall come into force with effect from 1st October, 2022. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as the principal regulations ), in regulation 6 , in sub-regulation (1), for the words ten , the words twenty shall be substituted. 3. In the principal regulations , in regulation 7 , in sub-regulation (2), (a) for clause (c), the following shall be substituted, namely:- (c) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riod of thirty days, after end of each quarter or upon closure of the processes whichever is earlier, along with a statement in Form EA of the Second Schedule. Explanation: quarter means the period of three months commencing on the first day of January. April, July or October of a financial year. 4. In the principal regulations , in regulation 12 , in sub-regulation (2), for the words fifty thousand , the words two lakh shall be substituted. 5. In the principal regulations , in regulation 13 , in sub-regulation (2), in clause (ca), (i) for the decimal, number and word 0.25 percent , the words one per cent. shall be substituted. (ii) after second proviso, the following proviso shall be inserted, namely:- Provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Total (Note Separate table to be inserted for each corporate debtor) 2. The following amounts are payable to the Board: Sl. No. Under regulation Amount Payable (Rs.) 1 Regulation 7(2)(cb) 2 Regulation 15, being interest from to .. Total 3. A sum of Rs. , as worked out in Para 2 above, has been deposited into the account of the Board, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RP / RP in a Corporate Insolvency Resolution Process / Authorised Representative in a Corporate Insolvency Resolution Process/ Liquidator / RP in Insolvency Resolution for Individuals/ Bankruptcy Trustee / Other, if any) Amount towards services rendered in the year (In Rs.) 1 2 3 Total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SI. No. Under regulation Amount Payable (Rs.) 1 Regulation 7(2)(ca) 2 Regulation 13(2)(ca) 3 Regulation 15, being interest from to .. Total 4. A sum of Rs. , as worked out in Para 3 above, has been deposited into the account of the Board, vide .... 5. I, [insert name], hereby affirm that (i) all information contained in this statement is true and correct in all material respects and (ii) no material information relevant for the purpose of this stateme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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