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of <h1>Financial creditors must cover excess liquidation costs per Regulation 2A if no plan is approved under Regulation 39B.</h1> Regulation 2A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, mandates that if the committee of creditors does not approve a plan under regulation 39B, financial creditors must contribute to the excess liquidation costs over the liquid assets of the corporate debtor. Contributions are proportional to the financial debts owed and must be deposited in an escrow account within seven days of the liquidation order. These contributions are repayable with interest as part of the liquidation cost. The regulation applies to liquidation processes starting after the 2019 amendment.
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