TMI BlogInsolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... cess) Regulations, 2017 (hereinafter referred to as the principal regulations ), in regulation 2 , in sub-regulation (1), in clause (c), for the figure and brackets 3(4) , the figure and brackets 3(3) shall be substituted. 3. In the principal regulations , in regulation 5 , in sub-regulation (2), for the word three , the word seven shall be substituted. 4. In the principal regulations , in regulation 10 , in sub-regulation (2) and clause (r) of sub-regulation (2), for the words corporate debtor , the words corporate person shall be substituted. 5. In the principal regulations , in regulation 30 , after sub-regulation (2), the following proviso shall be inserted, namely: - Provided that where no claim from creditors has been received till the last date for receipt of claims, the liquidator shall prepare the list of stakeholders within fifteen days from the last date for receipt of claims. 6. In the principal regulations, in regulation 35 , in sub-regulation (1), for the words six months , the words thirty days shall be substituted. 7. In the principal regulations , in regulation 37 , for sub-regulation (1), the following sub-regulation s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Liquidator s Registration No. as IP 7 Whether the Liquidator was replaced during the process (Yes / No) If yes Name of previous Liquidator and his registration No. Date of replacement of previous Liquidator 8 Date of opening of bank account for liquidation (with account details) 9 Date of notice for uncalled capital/unpaid capital contribution 10 Date of realization of uncalled capital/unpaid capital contribution 11 Date of intimation to statutory authority as applicable. a. PF b. ESI c. Income Tax d. Inspector of Factory e. GST/VAT f. RBI g. Others 12 Amount deposited into Corporate Voluntary Liquidation Account: a. Amount of unclaimed dividends b. Amount of undistributed proceeds c. Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) (2) (3) (4) (5) (6) (7) 1 Realization of Security Interest [Sec. 52(1)(b)] 2 Liquidation Cost [Sec. 53(1)(a)] 3 Workmen s Dues [Sec. 53(1)(b)(i)] 4 Debts of Secured Creditors [Sec. 53(1)(b)(ii)] 5 Wages and Unpaid Dues to Employees [Sec. 53(1)(c)] 6 Debts of Unsecured Financial Creditors [Sec. 53(1)(d)] 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntimation by Insolvency Professional regarding his appointment as Liquidator, to the Board T + 7 5 Regulation 14 (1) Public Announcement in Form A by the Liquidator T + 5 6 Section 59(4), Reg. 3(2) Notification to Registrar of Companies and Board about the resolution passed under section 59(3) (c) and regulation 3(1) (c) or subsequent approval of creditors thereto, as the case may be, by corporate person T + 7 or T + 14 7 Section 38(1), Regulation 14 (2) Submission of claims by stakeholders T + 30 8 Section 38(5) Withdrawal/ modification of claim by stakeholders T + 44 9 Regulation 9(1) Submission of preliminary report to the corporate person by the Liquidator ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions of the Insolvency and Bankruptcy Code, 2016, regulations made, or circulars issued thereunder (If any deviation/ non- compliances were observed, please state the details and reasons for the same): Sl. No. Deviation / Non- compliance observed Section of the Code / Regulation No. / Circular No. Reasons Whether rectified or not (1) (2) (3) (4) (5) 1 2 3 8. The details of application(s) filed / pending in respect of avoidance of transactions. Sl. No. Type of Transaction Date of Filing with Adjudicating Authority Date of Order of the Adjudicating Authority Brief of the Order (1) (2) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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