#IBBI

Bombay High Court rejected petitions contesting IBBI Regulation 31A, confirming that the fee levied on insolvency proceedings falls within the Board’s statutory authority. The court found the fee neither ultra-vires, excessive nor retrospective, affirming its constitutional validity. All corporate debtors and resolution professionals must continue to pay the fee under the IBC.

The Delhi High Court ruled that fees charged by an advocate serving as an interim resolution professional are subject to GST under the normal forward-charge mechanism, rejecting the IBBI’s reverse-charge classification. Consequently, such professionals must issue GST-compliant invoices and remit tax themselves, affecting all lawyer-insolvency professionals and the corporate debtors they handle.