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of <h1>Insolvency Liquidators Must File Forms LIQ 1-4 on Time; Late Submissions Face Penalties Under Regulation 47B.</h1> Regulation 47B of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 mandates that liquidators file specific forms electronically, following a stipulated timeline. Forms LIQ 1 to LIQ 4 cover various stages from the commencement of liquidation to the dissolution order, each with distinct deadlines. Liquidators must ensure accuracy and completeness of submissions. Late filings incur a fee of five hundred rupees per form for each month delayed. Non-compliance, including late, inaccurate, or incomplete submissions, may result in actions by the Board, such as refusal to issue or renew Authorisation for Assignment.
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