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        IBC

        Rule 7 - Liquidation Process

        Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

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        Liquidation safeguards for financial service providers require regulator and liquidator hearings before suspension, liquidation or dissolution actions. The licensing or registration authorising the provider shall not be suspended or cancelled during liquidation unless the liquidator has been afforded an opportunity to be heard, and the Adjudicating Authority must provide the appropriate regulator an opportunity to be heard before ordering liquidation or dissolution of the financial service provider.
                        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 safeguards for financial service providers require regulator and liquidator hearings before suspension, liquidation or dissolution actions.

                              The licensing or registration authorising the provider shall not be suspended or cancelled during liquidation unless the liquidator has been afforded an opportunity to be heard, and the Adjudicating Authority must provide the appropriate regulator an opportunity to be heard before ordering liquidation or dissolution of the financial service provider.


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