{"id":28396,"date":"2025-01-25T18:21:14","date_gmt":"2025-01-25T12:51:14","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=28396"},"modified":"2025-08-20T18:10:22","modified_gmt":"2025-08-20T12:40:22","slug":"liquidation-voluntary-liquidation-forms","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/","title":{"rendered":"FAQs on Liquidation &#038; Voluntary Liquidation Forms"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dc9e972fec8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dc9e972fec8\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#FAQs_on_Liquidation_and_Voluntary_Liquidation_Forms_As_on_10012025\" title=\"FAQs on Liquidation and Voluntary Liquidation Forms (As on 10.01.2025)\">FAQs on Liquidation and Voluntary Liquidation Forms (As on 10.01.2025)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_are_the_key_responsibilities_of_Insolvency_Professionals_when_filing_Liquidation_and_Voluntary_Liquidation_forms\" title=\"What are the key responsibilities of Insolvency Professionals when filing Liquidation and Voluntary Liquidation forms?\">What are the key responsibilities of Insolvency Professionals when filing Liquidation and Voluntary Liquidation forms?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_documents_need_to_be_attached_with_LIQ-1\" title=\"What documents need to be attached with LIQ-1?\">What documents need to be attached with LIQ-1?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#How_should_valuation_reports_be_attached_in_LIQ-2\" title=\"How should valuation reports be attached in LIQ-2?\">How should valuation reports be attached in LIQ-2?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_is_the_sequential_order_for_filing_Liquidation_forms\" title=\"What is the sequential order for filing Liquidation forms ?\">What is the sequential order for filing Liquidation forms ?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_details_are_mandatory_in_LIQ-3\" title=\"What details are mandatory in LIQ-3?\">What details are mandatory in LIQ-3?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_must_be_checked_while_filing_VL-1\" title=\"What must be checked while filing VL-1?\">What must be checked while filing VL-1?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#Is_it_mandatory_to_report_SCC_meeting_details_in_LIQ-2\" title=\"Is it mandatory to report SCC meeting details in LIQ-2?\">Is it mandatory to report SCC meeting details in LIQ-2?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_happens_if_IPs_fail_to_comply_with_guidelines\" title=\"What happens if IPs fail to comply with guidelines?\">What happens if IPs fail to comply with guidelines?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#Are_forms_required_for_stayed_cases\" title=\"Are forms required for stayed cases?\">Are forms required for stayed cases?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_forms_are_required_for_cancelledwithdrawal_cases\" title=\"What forms are required for cancelled\/withdrawal cases?\">What forms are required for cancelled\/withdrawal cases?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_forms_need_to_be_filed_if_the_final_report_was_submitted_before_28062024\" title=\"What forms need to be filed if the final report was submitted before 28.06.2024?\">What forms need to be filed if the final report was submitted before 28.06.2024?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#What_forms_need_to_be_filed_if_the_process_closed_or_the_CD_was_dissolved_before_28062024\" title=\"What forms need to be filed if the process closed or the CD was dissolved before 28.06.2024?\">What forms need to be filed if the process closed or the CD was dissolved before 28.06.2024?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#Do_I_need_to_file_LIQ-2_for_all_ongoing_quarters\" title=\"Do I need to file LIQ-2 for all ongoing quarters?\">Do I need to file LIQ-2 for all ongoing quarters?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#Who_is_responsible_for_filing_forms_if_a_liquidator_is_replaced\" title=\"Who is responsible for filing forms if a liquidator is replaced?\">Who is responsible for filing forms if a liquidator is replaced?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/liquidation-voluntary-liquidation-forms\/#Valuation_Insolvency_Advisory_Services\" title=\"Valuation &amp; Insolvency Advisory Services: \">Valuation &amp; Insolvency Advisory Services: <\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-28397\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2025\/01\/cO-LIQ.jpg\" alt=\"cO LIQ\" width=\"915\" height=\"659\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2025\/01\/cO-LIQ.jpg 682w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2025\/01\/cO-LIQ-300x216.jpg 300w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Liquidation_and_Voluntary_Liquidation_Forms_As_on_10012025\"><\/span><span style=\"color: #000080;\">FAQs on Liquidation and Voluntary Liquidation Forms <em>(As on 10.01.2025)<\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_key_responsibilities_of_Insolvency_Professionals_when_filing_Liquidation_and_Voluntary_Liquidation_forms\"><\/span><span style=\"color: #000080;\">What are the key responsibilities of Insolvency Professionals when filing Liquidation and Voluntary Liquidation forms?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Ensure accurate completion of all relevant fields.<\/li>\n<li>Submit comprehensive details and all required documents.<\/li>\n<li>File only one LIQ-1, LIQ-3, LIQ-4, VL-1, VL-3, and VL-4 per Corporate Debtor (CD).<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_documents_need_to_be_attached_with_LIQ-1\"><\/span><span style=\"color: #000080;\">What documents need to be attached with LIQ-1?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>List of documents received from the Resolution Professional as an undertaking (including cases where the Resolution Professional continues as the Liquidator).<\/li>\n<li>Public Announcement and Liquidation Order.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"How_should_valuation_reports_be_attached_in_LIQ-2\"><\/span><span style=\"color: #000080;\">How should valuation reports be attached in LIQ-2?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>For fresh valuations: Attach under &#8220;Other Relevant Documents.&#8221;<\/li>\n<li>In case no fresh valuations: Attach the previous valuation report under the same category.<\/li>\n<li>The liquidation value in LIQ-2 must match the attached valuation report.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_sequential_order_for_filing_Liquidation_forms\"><\/span><span style=\"color: #000080;\">What is the sequential order for filing Liquidation forms ?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>LIQ forms must be filed in order: LIQ-1, LIQ-2, LIQ-3, LIQ-4.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_details_are_mandatory_in_LIQ-3\"><\/span><span style=\"color: #000080;\">What details are mandatory in LIQ-3?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Point G: Amount realized during liquidation.<\/li>\n<li>The Point H: Distribution under Section 53.<\/li>\n<li>Point I: Security interest details not relinquished under Section 52.<\/li>\n<li>Total realization must match total distribution under Section 53 (including corporate insolvency resolution process\u00a0cost, liquidation cost, and liquidator fees).<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_must_be_checked_while_filing_VL-1\"><\/span><span style=\"color: #000080;\">What must be checked while filing VL-1?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Correctly specify the Liquidation Commencement Date based on the date of the Special Resolution or Extraordinary General Meeting.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Is_it_mandatory_to_report_SCC_meeting_details_in_LIQ-2\"><\/span><span style=\"color: #000080;\">Is it mandatory to report SCC meeting details in LIQ-2?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Yes, details of SCC meetings (Point 7) must be completed and documents uploaded under &#8220;Other Relevant Documents.&#8221;<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_happens_if_IPs_fail_to_comply_with_guidelines\"><\/span><span style=\"color: #000080;\">What happens if IPs fail to comply with guidelines?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Non-compliance will result in the rejection of the Authorization for Assignment application.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Are_forms_required_for_stayed_cases\"><\/span><span style=\"color: #000080;\">Are forms required for stayed cases?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Yes, forms must still be filed to maintain proper documentation and compliance.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_forms_are_required_for_cancelledwithdrawal_cases\"><\/span><span style=\"color: #000080;\">What forms are required for cancelled\/withdrawal cases?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>File LIQ-1 and LIQ-2 (select &#8216;Cancelled&#8217; in LIQ-2). Other fields in LIQ-2 are optional and can be completed if information is available.<\/li>\n<li>LIQ-3 is not mandatory; proceed directly to LIQ-4, selecting the &#8220;Cancelled&#8221; option.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_forms_need_to_be_filed_if_the_final_report_was_submitted_before_28062024\"><\/span><span style=\"color: #000080;\">What forms need to be filed if the final report was submitted before 28.06.2024?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>File LIQ-1, LIQ-2 for the last quarter of the progress report, and LIQ-3.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"What_forms_need_to_be_filed_if_the_process_closed_or_the_CD_was_dissolved_before_28062024\"><\/span><span style=\"color: #000080;\">What forms need to be filed if the process closed or the CD was dissolved before 28.06.2024?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>File LIQ-1, LIQ-2 for the last quarter, LIQ-3, and LIQ-4.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Do_I_need_to_file_LIQ-2_for_all_ongoing_quarters\"><\/span><span style=\"color: #000080;\">Do I need to file LIQ-2 for all ongoing quarters?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>No, only file LIQ-2 starting from March 2024 onward.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Who_is_responsible_for_filing_forms_if_a_liquidator_is_replaced\"><\/span><span style=\"color: #000080;\">Who is responsible for filing forms if a liquidator is replaced?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Filing responsibility lies with:\n<ul>\n<li>Current liquidator, or<\/li>\n<li>The last liquidator handling the process.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><span style=\"color: #000080;\"><strong>For details related to\u00a0FAQs on Liquidation and Voluntary Liquidation Forms issued by IBBI, please visit the <a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/archives\/faqs-on-liquidation-and-voluntary-liquidation-forms.pdf\">link\u00a0<\/a><\/strong><\/span><\/p>\n<h3 data-start=\"82\" data-end=\"128\"><span class=\"ez-toc-section\" id=\"Valuation_Insolvency_Advisory_Services\"><\/span><span style=\"color: #000080;\"><strong data-start=\"82\" data-end=\"126\">Valuation &amp; Insolvency Advisory Services: <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"82\" data-end=\"128\"><strong data-start=\"82\" data-end=\"126\">RJA <\/strong>is connect &amp; explore opportunities in valuation advisory across diverse domains, including portfolio\u00a0&amp; Startup Valuation,\u00a0Independent Fair Opinion &amp; Investment Banking,\u00a0Valuation under FEMA, Income Tax &amp; Companies Act,\u00a0ESOP Valuations,\u00a0Valuations under IND-AS for Financial Reporting,\u00a0Fair &amp; Liquidation Valuation under IBC,\u00a0Valuation for Dispute Resolutions &amp; M&amp;A Transactions,\u00a0Valuation of Real Estate, Infrastructure Assets &amp; Industrial Units, Compliance-driven Valuations &amp; Private Placement Memorandum (SEBI). Additionally, as part of our Insolvency Services, we specialize in vetting Resolution Plans for Feasibility &amp; Viability, assisting the Committee of Creditors (CoC) in making informed decisions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10081],"tags":[10320],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/28396"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=28396"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/28396\/revisions"}],"predecessor-version":[{"id":28399,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/28396\/revisions\/28399"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=28396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=28396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=28396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}