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of <h1>Liquidator Duties: Consolidate and Verify Claims Under IBC Sections 38-41; Public Announcement Required in 5 Days</h1> In the liquidation process under the Insolvency and Bankruptcy Code (IBC), the liquidator is tasked with consolidating and verifying claims from stakeholders of the corporate debtor. Sections 38 to 41 of the IBC detail the process for claim consolidation, verification, admission, rejection, and valuation. Regulation 12 mandates a public announcement by the liquidator within five days of appointment, calling for claims within 30 days of the liquidation commencement date. Creditors must submit claims using specified forms, with provisions for financial, operational, and employee claims. Creditors can modify claims within 14 days, and secured creditors must prove security existence.
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