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Insolvency and Bankruptcy
Home Acts & Rules Insolvency and Bankruptcy Regulation Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 Chapters List This

Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

Chapter: I
PRELIMINARY
Regulation 1 : Short title and commencement.
Regulation 2 : Definitions
Chapter: II
COMMENCEMENT OF LIQUIDATION
Regulation 3 : Initiation of Liquidation
Regulation 4 : Effect of liquidation
Chapter: III
APPOINTMENT AND REMUNERATION OF LIQUIDATOR
Regulation 5 : Appointment of Liquidator
Regulation 6 : Eligibility for appointment as liquidator
Regulation 7 : Liquidator's remuneration
Chapter: IV
POWERS AND FUNCTIONS OF THE LIQUIDATOR
Regulation 8 : Reporting
Regulation 9 : Preliminary Report
Regulation 10 : Registers and books of account
Regulation 11 : Engagement of professionals
Regulation 12 : Consultation with stakeholders
Regulation 13 : Extortionate credit transactions
Regulation 14 : Public announcement by the liquidator
Chapter: V
CLAIMS
Regulation 15 : Proof of claim
Regulation 16 : Claims by operational creditors
Regulation 17 : Claims by financial creditors
Regulation 18 : Claims by workmen and employees
Regulation 19 : Claims by other stakeholders
Regulation 20 : Proving security interest
Regulation 21 : Production of bills of exchange and promissory notes
Regulation 22 : Substantiation of claims
Regulation 23 : Cost of proof
Regulation 24 : Determination of quantum of claim
Regulation 25 : Debt in foreign currency
Regulation 26 : Periodical payments
Regulation 27 : Debt payable at future time
Regulation 28 : Mutual credits and set-off
Regulation 29 : Verification of claim
Regulation 30 : List of stakeholders
Chapter: VI
REALISATION OF ASSETS
Regulation 31 : Manner of sale
Regulation 32 : Recovery of monies due
Regulation 33 : Liquidator to realize uncalled capital or unpaid capital contribution
Chapter: VII
PROCEEDS OF LIQUIDATION AND DISTRIBUTION OF PROCEEDS
Regulation 34 : All money to be paid in to bank account
Regulation 35 : Distribution
Regulation 36 : Return of money
Regulation 37 : Completion of liquidation
Regulation 38 : Final Report
Regulation 39 : Unclaimed proceeds of liquidation or undistributed assets
Regulation 40 : Detection of Fraud or Insolvency
Regulation 41 : Preservation of records
Schedules
-​​​​​​​SCH II : The formats contained in this Schedule are indicative in nature, and the liquidator may make such modifications to them as he deems fit in view of the facts and circumstances of the liquidation.
-SCH I - FORM A : PUBLIC ANNOUNCEMENT
-SCH I - FORM B : PROOF OF CLAIM BY OPERATIONAL CREDITORS EXCEPT WORKMEN AND EMPLOYEES
-SCH I - FORM C : PROOF OF CLAIM BY FINANCIAL CREDITORS
-SCH I - FORM D : PROOF OF CLAIM BY A WORKMAN OR EMPLOYEE
-SCH I - FORM E : PROOF OF CLAIM BY AUTHORISED REPRESENTATIVE OF WORKMEN OR EMPLOYEES
-SCH I - FORM F : PROOF OF CLAIM BY ANY OTHER STAKEHOLDER
 
 
 
 
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