S&A Law Offices is a full-service law firm comprising experienced, well-recognized and accomplished professionals. S&A Law Offices aims to provide its clients (both domestic and international) with top-quality counsel and legal insights, which combines the Firm's innovative approach with comprehensive expertise across industries and a broad spectrum of modalities. Being a full-service law firm, we take pride in having the capability of providing impeccable legal solutions across various practice areas and industries and makes an endeavor to provide a 360 degree legal solution.
With registered office at Gurugram and other strategically located offices in New Delhi, Mumbai, and Bengaluru, along with associate offices across India, S&A is fully equipped to provide legal services on a pan-India basis.
The board vide its circular dated 16.01.2018 had clarified that
for calculating the Insolvency Resolution Process Cost under
Regulation 31 of the Insolvency and Bankruptcy Board of India
(Insolvency Resolution Process for Corporate Persons) Regulations,
2016, the fees payable to the person acting as a resolution
professional will only be included that is the fees defined under
Section 5(13) of Insolvency and Bankruptcy Code 2016 (the Code).
The fees w.r.t other professionals appointed by Insolvency
Resolution Professional shall not form part of the insolvency
resolution process cost. Such other professionals appointed by an
insolvency professional shall raise bills/invoices in his/its name
towards such fees and such fees shall be paid to his/its bank
account.
Furthermore, it is also again clarified that an insolvency
professional shall render services for a fee which is a reasonable
reflection of his work, raise bills/invoices in his name towards
such fees, and such fees shall be paid to his bank account.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.