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of <h1>Liquidators Must Submit Quarterly Progress Reports Under Regulation 15, Including Audited Accounts and Detailed Financials</h1> Regulation 15 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 mandates that a liquidator must submit progress reports to the Adjudicating Authority and the Board. The first report is due within fifteen days after the end of the quarter of appointment, with subsequent reports due quarterly. Reports must include details on the liquidation process, stakeholder distributions, fees, litigation developments, and changes in liquidation costs. Each report must also include an account of receipts and payments. The fourth quarter report requires audited accounts for the financial year. If a liquidator ceases to act, a final report is due within fifteen days.
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