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of <h1>Key Terms Defined in Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 for Liquidation Clarity</h1> The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, defines key terms relevant to the liquidation process. It specifies 'books of the corporate debtor' as financial records under various acts, and 'Code' as the Insolvency and Bankruptcy Code, 2016. A 'consultation committee' is a stakeholders' group, while 'contributory' refers to those liable to contribute assets during liquidation. 'Liquidation cost' includes fees, remuneration, and costs incurred by the liquidator. Other definitions include 'electronic means,' 'identification number,' 'Preliminary Report,' 'Progress Report,' 'registered valuer,' 'Schedule,' 'section,' and 'stakeholders.' Unspecified terms default to their meanings in the Code.
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