New Delhi: ICAI's Indian Institute of Insolvency Professionals (IIIPI) on Tuesday said it has reduced the annual membership fee for insolvency professionals and insolvency professional institutions (IPEs) by 50 per cent.
According to a release, the membership fee for Judicial Insolvency Professionals has been reduced from Rs 10,000 to Rs 5,000 and for IPEs the amount has been reduced from Rs 50,000 to Rs 25,000.
Judicial insolvency professionals are IPE firms enrolled as insolvency professionals.
According to the release, the institute will charge a fee for Authorization for Assignment (AFA). The AFA fee at the time of issuance or annual renewal will be Rs 5,000 for Insolvency Professionals and Rs 25,00 for IPE.
I said, “Annual membership fee is mandatory, while insolvency professionals and IPEs will be free to renew AFA as per their interest and requirement.”
According to a release, the membership fee for Judicial Insolvency Professionals has been reduced from Rs 10,000 to Rs 5,000 and for IPEs the amount has been reduced from Rs 50,000 to Rs 25,000.
Judicial insolvency professionals are IPE firms enrolled as insolvency professionals.
According to the release, the institute will charge a fee for Authorization for Assignment (AFA). The AFA fee at the time of issuance or annual renewal will be Rs 5,000 for Insolvency Professionals and Rs 25,00 for IPE.
I said, “Annual membership fee is mandatory, while insolvency professionals and IPEs will be free to renew AFA as per their interest and requirement.”
