Liquidator cooperation requirements ensure access to information needed for liquidation from connected persons and property holders. Liquidator may seek a direction from the Adjudicating Authority requiring cooperation in the collection of information necessary for liquidation from specified persons connected with the corporate debtor, including officers, auditors, employees, promoters, partners, former insolvency professionals, previous liquidators, and persons in possession of the corporate debtor's property. The application lies only after the liquidator has made reasonable efforts to obtain the information directly and failed to secure it, so as to ensure access to information and assistance needed for the proper conduct of the liquidation process.
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.
Liquidator cooperation requirements ensure access to information needed for liquidation from connected persons and property holders.
Liquidator may seek a direction from the Adjudicating Authority requiring cooperation in the collection of information necessary for liquidation from specified persons connected with the corporate debtor, including officers, auditors, employees, promoters, partners, former insolvency professionals, previous liquidators, and persons in possession of the corporate debtor's property. The application lies only after the liquidator has made reasonable efforts to obtain the information directly and failed to secure it, so as to ensure access to information and assistance needed for the proper conduct of the liquidation process.
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