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of <h1>India's Insolvency Board Amends Liquidation Process: Liquidator Fees Clarified, Regulation References Updated.</h1> The Insolvency and Bankruptcy Board of India issued the Third Amendment to the Liquidation Process Regulations, 2020, effective upon publication in the Official Gazette. Key amendments include a clarification in regulation 4 regarding liquidator fees, stating that a liquidator is entitled to fees based on the amount realized or distributed. Additionally, changes in regulation 37 involve the omission of the word 'of,' and adjustments in regulation 47 update references to sections and substitute 'disclaimer' for 'disclosure.' These amendments modify the original 2016 regulations, which were last amended in April 2020.
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