https://www.taxtmi.com/article/detailed?id=8706 The 2019 amendment restructures liquidation procedure by creating a stakeholders' consultation committee to advise the liquidator, defining liquidation cost components, and revising liquidator fees tied to realizations and distributions. It mandates contributions by financial creditors for shortfalls, prescribes public announcement and claims procedures, establishes a presumption where secured creditors do not elect relinquishment, prioritizes sale as a going concern with defined fallback, shortens distribution timelines, and reduces the statutory liquidation completion period while allowing the liquidator to seek extension with justification. en-us Wed, 04 Sep 2019 07:11:31 +0530 Wed, 04 Sep 2019 07:11:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8706 The 2019 amendment restructures liquidation procedure by creating a stakeholders' consultation committee to advise the liquidator, defining liquidation cost components, and revising liquidator fees tied to realizations and distributions. It mandates contributions by financial creditors for shortfalls, prescribes public announcement and claims procedures, establishes a presumption where secured creditors do not elect relinquishment, prioritizes sale as a going concern with defined fallback, shortens distribution timelines, and reduces the statutory liquidation completion period while allowing the liquidator to seek extension with justification. Articles Corporate Laws / IBC / SEBI Wed, 04 Sep 2019 07:11:31 +0530 https://www.taxtmi.com/article/detailed?id=8706