Section 31 in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
31. Insolvency resolution process costs.
- "Insolvency resolution process costs" under Section 5(13)(e) shall mean-(a)amounts due to suppliers of essential goods and services under Regulation 32;(aa)[ fee payable to authorised representative under [sub-regulation (8)] [Inserted by Notification No. IBBI/2018-19/GN/REG031, dated 3.7.2018 (w.e.f 30.11.2016).] of regulation 16A;(ab)out of pocket expenses of authorised representative for discharge of his functions under [section 25A] [Substituted 'section 25' by Notification No. IBBI/2019-20/GN/REG048, dated 25.7.2019 (w.e.f 30.11.2016).];](b)amounts due to a person whose rights are prejudicially affected on account of the moratorium imposed under section 14(1)(d);(c)expenses incurred on or by the interim resolution professional to the extent ratified under Regulation 33;(d)expenses incurred on or by the resolution professional fixed under Regulation 34; and(e)other costs directly relating to the corporate insolvency resolution process and approved by the committee.
