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May 22, 2024 · A liquidator is an individual or firm appointed to oversee the process of liquidating (winding up) a company or organisation. They might be chosen by the firm’s directors or, in the case of compulsory liquidation, appointed by the court [1].
21 hours ago · The High Court noted that where the liquidator appointed BRAL, a firm in which he was a partner, to provide support services and allowed the said firm to raise bills higher than the fee of the liquidator himself, an act of the liquidator was contrary to the intent of liquidation process. The High Court held that the factual motive of the ...
4 days ago · A liquidator acts on behalf of a company and controls its activities, money and assets, ultimately to generate a return for the company’s creditors. A liquidator’s actions are governed under legislation. A list of registered liquidators is kept on ASIC’s website. How are Liquidators Appointed to a Company? Liquidators are appointed to a company by:
5 days ago · The procedure for liquidation of a company can be initia ted voluntarily by the shareholders or forced by a tribunal or a court. We will first discuss the voluntary closing up of a company and, later, forced closure.
4 days ago · IBC Section 35-Powers and duties of liquidator. Effective from 15.12.2016. (1) Subject to the directions of the Adjudicating Authority, the liquidator shall have the following powers and duties, namely:— (a) to verify claims of all the creditors;
21 hours ago · Subsequently, vide order dated 01.03.2021 of this Adjudicating Authority, Liquidation proceedings were initiated regarding the Corporate Debtor. 2) Through the present Application, the Applicant is seeking refund of 25 % of the bid amount of Rs. 6,39,00,000/- along with interest @ 12%, which was forfeited by the Liquidator in terms of the e-auction dated 15.11.2021.
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21 hours ago · The liquidation process under the IBC involves several crucial steps, from inviting claims from stakeholders to distributing realized On 28th June 2024, Insolvency and Bankruptcy Board of India (‘IBBI’) published a circular concerning the filing of Forms in order to monitor liquidation processes under the Insolvency and Bankruptcy Code, 2016(‘IBC’), and the regulations made thereunder.
