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of <h1>Liquidators Must File Stakeholder List and Asset Memorandum Before Distributing Proceeds Under Reg 42, IBBI Rules 2016</h1> Regulation 42 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, mandates that a liquidator must not begin distribution of liquidation proceeds until the list of stakeholders and asset memorandum are filed with the Adjudicating Authority, in accordance with section 53. The liquidator is required to distribute the proceeds within ninety days of receipt, after deducting insolvency resolution and liquidation costs. The regulation was amended in 2019 to change the distribution timeframe from six months to ninety days.
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