https://www.taxtmi.com/news?id=22359 Amendments restrict that persons not eligible under the Code to submit resolution plans cannot be parties to compromises under the Companies Act or recipients of secured assets sold or transferred by secured creditors; secured creditors who realise security must pay prescribed shares of insolvency and liquidation costs and remit excess proceeds within specified periods or the asset/proceeds will form part of the Liquidation Estate, and liquidators must deposit unclaimed dividends and undistributed proceeds into the Corporate Liquidation Account with a withdrawal process for stakeholders. en-us Tue, 07 Jan 2020 15:40:57 +0530 Tue, 07 Jan 2020 15:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22359 Amendments restrict that persons not eligible under the Code to submit resolution plans cannot be parties to compromises under the Companies Act or recipients of secured assets sold or transferred by secured creditors; secured creditors who realise security must pay prescribed shares of insolvency and liquidation costs and remit excess proceeds within specified periods or the asset/proceeds will form part of the Liquidation Estate, and liquidators must deposit unclaimed dividends and undistributed proceeds into the Corporate Liquidation Account with a withdrawal process for stakeholders. News - Tue, 07 Jan 2020 15:40:57 +0530 https://www.taxtmi.com/news?id=22359