The Insolvency and Bankruptcy Board of India (IBBI) has introduced measures to streamline the regulatory framework for insolvency professional entities (IPEs) and enhance the efficiency of insolvency professionals (IPs). The regulator clarified disciplinary proceedings, the limit on the number of assignments, and fee structures for IPEs. Disciplinary proceedings may be initiated against the IPE's partner or director who is an IP and was authorized for the assignment. The limit on the number of assignments will not apply to IPEs. Additionally, the fee structure for IPEs will be market-determined, reflecting their expanded role and institutional framework.
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