AUTHORITY IBBI (EXAMINATION DIVISION) AMENDS FEE STRUCTURE FOR EXAMINATIONS: ISSUED CIRCULAR ON REVISION OF FEES APPLICABLE FOR LIMITED INSOLVENCY EXAMINATION AND VALUATION EXAMINATIONS
NEW DELHI 31st August 2022, TECHNO NEWS: THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA issued a CIRCULAR No. IBBI/EXAM/52/2022 Dated: 31st August 2022 at New Delhi, on Subject: Revision of fees applicable for Limited Insolvency Examination and Valuation Examinations to all Test Administrators, all Insolvency Professional Agencies, all Registered Valuer Organisations (RVOs), all candidates registered in the examination system, through IBBI website.
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.
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 candidates’ professional knowledge, skills, values and ethics in respect of valuation.
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 by the authority IBBI 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.
This circular is being issued by the authority IBBI in the 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.
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CIRCULAR No. IBBI/EXAM/52/2022 Dated: 31st August 2022 on Subject: Revision of fees applicable for Limited Insolvency Examination and Valuation Examinations