Consolidation of claims: liquidator must collect and verify stakeholder claims and require prescribed submissions under liquidation rules. The liquidator must collect, consolidate and verify claims under Section 38 and the Liquidation Process Regulations, make a public announcement calling for submission or updation of claims with a specified last date, and receive claims to be proved as on the liquidation commencement date. Submission modes and forms vary by creditor class; financial creditors may use an information utility or prescribed forms, operational creditors and other stakeholders follow specified forms and procedures, workmen and employees may submit directly or via a representative, and secured creditors must prove security existence and registration with specified records.