FAQs on Liquidation and Voluntary Liquidation Forms (As on 10.01.2025) What are the key responsibilities of Insolvency Professionals when filing Liquidation and Voluntary Liquidation forms? Ensure accurate completion of all relevant fields. Submit comprehensive details and all required documents. File only one LIQ-1, LIQ-3, LIQ-4, VL-1, VL-3, and VL-4 per Corporate Debtor (CD). What documents …
IBBI, IBA to launch centralised platform (eBKray platform) for asset liquidation The eBKray platform is a crucial step toward modernizing the IBC’s liquidation framework. By addressing issues like fragmented processes, limited buyer access, and inadequate recovery rates, it ensures fairer, more efficient outcomes for all stakeholders. This reform not only supports creditors and buyers but …
Sale as Going Concern under liquidation under IBC The Corporate Debtor survive the Going Concern Sale; the Liquidator just transfers ownership to the purchaser. The buyer receives all of the corporate debtor’s rights, titles, and interests, including those in the legal company. This term also refers toΒ a company’s ability to make enough money to stay …
Liquidator Fees to be paid Regulation 39(D) of CIRP Regulations What is liquidator Fees to be paid CIRP Regulations?Β Fees of the Liquidator While approving a resolution plan under section 30 or deciding to liquidate the corporate debtor under section 33, the committee may, in consultation with the resolution professional, fix the fee payable to …
Liquidation Process for Corporate Debtor under IBC As per Insolvency and Bankruptcy Code read with Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (with amendments) Form E of Schedule II, provided by the corporate debtor, must be submitted in person, by mail, or electronically to the liquidator as proof of claim. In accordance …