Liquidation distribution rules require stakeholder filing first, prompt payment from realisation, and deduction of resolution and liquidation costs. Liquidation distributions must follow section 53 and cannot begin until the list of stakeholders has been filed with the Adjudicating Authority. The liquidator must distribute the proceeds from realisation within fifteen days of receipt of the amount. Before distribution, insolvency resolution process costs and liquidation costs are to be deducted from the realised proceeds.
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.
Liquidation distribution rules require stakeholder filing first, prompt payment from realisation, and deduction of resolution and liquidation costs.
Liquidation distributions must follow section 53 and cannot begin until the list of stakeholders has been filed with the Adjudicating Authority. The liquidator must distribute the proceeds from realisation within fifteen days of receipt of the amount. Before distribution, insolvency resolution process costs and liquidation costs are to be deducted from the realised proceeds.
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