Four writ petitions were filed challenging Regulation 31A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, which introduced a 'regulatory fee' of 0.25% of the realisable value to creditors under an approved resolution plan (if more than liquidation value), effective 01.10.2022. The petitioners, including successful resolution applicants and a home buyer, contended that the regulation was ultra vires the Insolvency and Bankruptcy Code (IBC), amounted to a tax rather than a fee, was retrospective in operation, and was arbitrary, thereby violating Article 14 of the Constitution of India.
Four writ petitions (WP No. 703/2023, 243/2024, 244/2024, 1560/2025) were heard together by the High Court of Judicature at Bombay.
Writ Petition No. 243/2024 was originally filed before the High Court of Madhya Pradesh, Bench at Indore, and Writ Petition No. 244/2024 was originally filed before the Delhi High Court.
On 21.11.2023, the Supreme Court allowed Transfer Petition Nos. 2124 – 2126 of 2023, transferring WP 243/2024 and 244/2024 to the Bombay High Court.
The petitioners in WP No. 703/2023 and 1560/2025 are successful resolution applicants.
Regulation 31A of the IBBI Regulations, introducing a regulatory fee, was introduced with effect from 01.10.2022.
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NCLT, Ahmedabad Bench, passed an order admitting…
NCLT, Ahmedabad Bench, passed an order…
Four writ petitions were filed challenging Regulation 31A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, which introduced a 'regulatory fee' of 0.25% of the realisable value to creditors under an approved resolution plan (if more than liquidation value), effective 01.10.2022. The petitioners, including successful resolution applicants and a home buyer, contended that the regulation was ultra vires the Insolvency and Bankruptcy Code (IBC), amounted to a tax rather than a fee, was retrospective in operation, and was arbitrary, thereby violating Article 14 of the Constitution of India.
Four writ petitions (WP No. 703/2023, 243/2024, 244/2024, 1560/2025) were heard together by the High Court of Judicature at Bombay.
Writ Petition No. 243/2024 was originally filed before the High Court of Madhya Pradesh, Bench at Indore, and Writ Petition No. 244/2024 was originally filed before the Delhi High Court.
On 21.11.2023, the Supreme Court allowed Transfer Petition Nos. 2124 – 2126 of 2023, transferring WP 243/2024 and 244/2024 to the Bombay High Court.
The petitioners in WP No. 703/2023 and 1560/2025 are successful resolution applicants.
Regulation 31A of the IBBI Regulations, introducing a regulatory fee, was introduced with effect from 01.10.2022.
…NCLT, Ahmedabad Bench, passed an order admitting…
NCLT, Ahmedabad Bench, passed an order…