IBBI (Information Utilities) (Amendment) Regulations, 2019

Jul 26, 2019 | by Avantis RegTech Legal Research Team

The Insolvency and Bankruptcy Board of India (IBBI), on July 25, 2019, has issued a Notification to publish the IBBI (Information Utilities) (Amendment) Regulations, 2019 to further amend the IBBI (Information Utilities) Regulations, 2017. It will come into force on the date of its publication in the Official Gazette.

The amendments made in the IBBI (Information Utilities) Regulations, 2017 are:

 The certificate of registration shall pay an annual fee of fifty lakh rupees to the Board, within fifteen days from the date of commencement of the financial year, provided that no annual fee shall be payable in the financial year in which an information utility is granted registration or renewal, as the case may be. The Board may take any other action as it deems fit, any delay in payment of fee by an information utility shall attract simple interest at the rate of twelve percent per annum until paid.

[Notification No. IBBI/2019-20/GN/REG046]


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