SCHEDULE 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.
Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 Schedules
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Voluntary liquidation record-keeping: standardized ledgers and registers govern asset realisation, claims admission and distributions. The Schedule prescribes indicative accounting and record-keeping formats for voluntary liquidation that the liquidator may modify as necessary. It mandates maintenance of a Cash Book, General Ledger (with specified heads and monthly tallies), Bank Ledger, and specialized registers for Assets, Securities and Investments, Book Debts, Tenants, Suits, Decrees, Claims and Distributions, Contributories, Distributions, Fees, Suspense, Documents, Books and Unclaimed Dividends to enable tracking of possession, realization, admissions, and distributions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Voluntary liquidation record-keeping: standardized ledgers and registers govern asset realisation, claims admission and distributions.
The Schedule prescribes indicative accounting and record-keeping formats for voluntary liquidation that the liquidator may modify as necessary. It mandates maintenance of a Cash Book, General Ledger (with specified heads and monthly tallies), Bank Ledger, and specialized registers for Assets, Securities and Investments, Book Debts, Tenants, Suits, Decrees, Claims and Distributions, Contributories, Distributions, Fees, Suspense, Documents, Books and Unclaimed Dividends to enable tracking of possession, realization, admissions, and distributions.
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