Success fee gaining currency among insolvency resolution professionals

Success fee is becoming an increasingly popular way of payment among corporate insolvency resolution professionals (RPs) for carrying out transactions.
 
No official data is available on the charges but Insolvency and Bankruptcy Code (IBC) experts say the fee is being paid in more than half of the overall cases going for resolution. It usually is in the range of 0.1 to 2 per cent of the winning bid amount after approved by the National Company Law Tribunal, experts said.
 
A circular by the Insolvency and Bankruptcy Board of India on fee and other expenses incurred for the Corporate