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Insolvency and Bankruptcy
Home Acts & Rules Insolvency and Bankruptcy Regulation Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 Chapters List This

Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

Chapter: I
PRELIMINARY
Regulation 1 : Short title and commencement.
Regulation 2 : Definitions
Chapter: II
APPOINTMENT AND REMUNERATION OF LIQUIDATOR
Regulation 3 : Eligibility for appointment as liquidator
Regulation 4 : Liquidator’s fee.
Chapter: III
POWERS AND FUNCTIONS OF LIQUIDATOR
Regulation 5 : Reporting
Regulation 6 : Registers and books of account
Regulation 7 : Appointment of professionals
Regulation 8 : Consultation with stakeholders
Regulation 9 : Personnel to extend cooperation to liquidator
Regulation 9 : Personnel to extend cooperation to liquidator
Regulation 10 : Disclaimer of onerous property
Regulation 11 : Extortionate credit transactions
Chapter: IV
GENERAL
Regulation 12 : Public announcement by liquidator
Regulation 13 : Preliminary report
Regulation 14 : Early dissolution
Regulation 15 : Progress reports
Chapter: V
CLAIMS
Regulation 16 : Proof of claim
Regulation 17 : Claims by operational creditors
Regulation 18 : Claims by financial creditors
Regulation 19 : Claims by workmen and employees
Regulation 20 : Claims by other stakeholders
Regulation 21 : Proving security interest
Regulation 22 : Production of bills of exchange and promissory notes
Regulation 23 : Substantiation of claims
Regulation 24 : Cost of proof
Regulation 25 : Determination of quantum of claim
Regulation 26 : Debt in foreign currency
Regulation 27 : Periodical payments
Regulation 28 : Debt payable at future time
Regulation 29 : Mutual credits and set-off
Regulation 30 : Verification of claims
Regulation 31 : List of stakeholders
Chapter: VI
REALISATION OF ASSETS
Regulation 32. : Manner of sale
Regulation 33 : Mode of sale
Regulation 34 : Asset memorandum
Regulation 35 : Valuation of assets intended to be sold
Regulation 36 : Asset sale report
Regulation 37 : Realization of security interest by secured creditor
Regulation 38 : Distribution of unsold assets
Regulation 39 : Recovery of monies due
Regulation 40 : Liquidator to realize uncalled capital or unpaid capital contribution
Chapter: VII
PROCEEDS OF LIQUIDATION AND DISTRIBUTION OF PROCEED S
Regulation 41 : All money to be paid in to bank account
Regulation 42 : Distribution
Regulation 43 : Return of money
Regulation 44 : Completion of liquidation
Regulation 45 : Final report prior to dissolution
Regulation 46 : Unclaimed proceeds of liquidation or undistributed assets
Schedules
-SCHEDULE I : MODE OF SALE
-SCHEDULE II - FORM A : PROFORMA FOR REPORTING CONSULTATIONS WITH STAKEHOLDERS
-SCHEDULE II - FORM B : PUBLIC ANNOUNCEMENT
Regulation SCHEDULE II - FORM C : PROOF OF CLAIM BY OPERATIONAL CREDITORS EXCEPT WORKMEN AND EMPLOYEES
-SCHEDULE II - FORM D : PROOF OF CLAIM BY FINANCIAL CREDITORS
-SCHEDULE II - FORM E : PROOF OF CLAIM BY A WORKMAN OR EMPLOYEE
-SCHEDULE II - FORM F : PROOF OF CLAIM BY AUTHORISED REPRESENTATIVE OF WORKMEN OR EMPLOYEES
-SCHEDULE II - FORM G : PROOF OF CLAIM BY ANY OTHER STAKEHOLDER
-SCHEDULE III : The formats contained in this Schedule are indicative in nature, and the liquidator may make such modifications to them as he deems fit in the facts and circumstances of the liquidation.
 
 
 
 
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