Model time-line for liquidation process

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.... (5) 1 Section 33 and 34 Commencement of liquidation and appointment of liquidator LCD 0 = T 2 Section 33 (1) (b) (ii) / Reg. 12 Public announcement Within 5 days of appointment of liquidator. T + 5 3 Reg. 35 (2) Appointment of registered valuers  Within 7 days of LCD T + 7 4 Reg. 8 First meeting of committee of creditors Within 7 days of LCD T+ 7 5   ^ Reg. 16/Sec. 52 and reg. 21A Submission of claims;   Within 14 days of LCD T + 14 Intimation of decision on relinquishment of security interest 6 ....

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.... ^ [Reg. 46 Deposit the amount of unclaimed dividends and undistributed proceeds Before submission of application under sub-regulation (2) of regulation 45     14 Sch-1 Sl.  No 12 Time period to H1 bidder to provide balance sale consideration Within 90 days of the date of invitation to provide the balance amount.]    [AA: Adjudicating Authority, LCD: Liquidation Commencement Date]]     ************** NOTES:- 1. Inserted vide Notification No. IBBI/2019-20/GN/REG047 dated 25-07-2019 2. Substituted vide Notification No. IBBI/2019-20/GN/REG053 dated 06-01-2020 before it was read as, "20 Reg.....

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....) (3) (4) (5) 1 Section 33 and 34 Commencement of liquidation and appointment of liquidator LCD 0 = T 2 Section 33 (1) (b) (ii) / Reg. 12 (1, 2, 3) Public announcement in Form B Within 5 days of appointment of liquidator. T + 5 3 Reg. 35 (2) Appointment of registered valuers Within 7 days of LCD T + 7 ^6[3A Reg. 31A (6) First meeting of SCC Within 7 days of LCD T + 7] 4 ^3[Section 38 (1), Reg. 17, 18, 19, 20 and 21A] Submission of claims;  Within 30 days of LCD T + 30 Intimation of decision on relinquishment of security interest 5 Section 38 (5) Withdrawal/ modification of claim Wi....