Madras HC: IBBI is empowered to levy fee as a % of Annual Remuneration drawn as an IP
The power of the Insolvency And Bankruptcy Board Of India (the “IBBI”) to levy fee of 0.25% of the professional fee earned for services rendered as an IP in the preceding financial year and also 0.25% of the turnover of an IPE in the preceding financial year and the regulations thereof were challenged before the Hon’ble High Court of Judicature at Madras.
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