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Competition, new rules crimp resolution professionals' fees
Mint Mumbai
|October 20, 2023
Fees have fallen to as low as ₹10-15 lakh per case from as high as ₹2 crore six years ago
- 4,273 No. of insolvency professionals in the country currently
Average fees charged by resolution professionals (RPs) and other consultants involved in insolvency and bankruptcy have declined by as much 70% during the past two years due to competition among professionals and tightening of rules by regulators, market participants said.
Back in 2017, when the Reserve Bank of India (RBI) published the ‘dirty dozen’ list of 12 large accounts against which the newly introduced Insolvency and Bankruptcy Code (IBC) would be used, the consultants were charging as much as ₹1-2 crore for each case. Six years later, the fees have come down to as low as ₹10-15 lakh per case, market participants said, requesting anonymity.
This story is from the October 20, 2023 edition of Mint Mumbai.
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