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Rule 13 - Notice of dividend - Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019Extract 13. Notice of dividend. ― (1) The notice of dividend as per clause (a) of sub-section (1) of section 176 shall contain the following particulars: ― (a) the date on which the dividend is proposed to be distributed; (b) the list of creditors who shall be entitled to a dividend; (c) the amount of dividend for each creditor under clause (b); (d) request for any details required from the creditors for the distribution of dividend, and the last date for receipt of such information; (e) the last date by which the creditors must establish their claim against the estate with the bankruptcy trustee; and (f) a statement confirming that no further dividends shall be declared. (2) The notice under clause (b) of sub-section (1) of section 176 shall provide the reasons for not declaring dividend. (3) The notice of dividend under sub-section (1) section 176 shall be sent thirty days prior to the date specified for the distribution of dividend.
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