TMI BlogProgress reportsX X X X Extracts X X X X X X X X Extracts X X X X ..... s after the end of the quarter in which he is appointed; (b) subsequent Progress Report(s) within fifteen days after the end of every quarter during which he acts as liquidator; and Provided that if an insolvency professional ceases to act as a liquidator during the liquidation process, he shall file a Progress Report for the quarter up to the date of his so ceasing to act, within fifteen da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vities carried out by them, (iii) other expenses incurred by the liquidator, whether paid or not; (d) developments in any material litigation, by or against the corporate debtor; (e) filing of, and developments in applications for avoidance of transactions 1 [ under Part II ] of the Code; and (f) changes, if any, in estimated liquidation costs. (3) A Progress Report shall enclose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the Progress Report to be filed after cessation of his appointment. Illustration : An insolvency professional becomes a liquidator on 13th February, 2017, and ceases to act as liquidator on 12th February, 2019. He shall submit Progress Reports as under: Report No. Period covered in the Quarter Last Date of Submission of Report ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 January - 12th February, 2019 27th February, 2019 He shall submit the audited accounts of his receipts and payments as under: Audited Account No. Period covered in the Year Last Date of Submission 1 13th February - 31st March, 2017 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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