Model time-line for liquidation process

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t the process does not include compromise or arrangement under section 230 of the Companies Act, 2013 (18 of 2013) or sale under regulation 32A: Model Timeline for Liquidation Process Sl.No. Section / Regulation Description of Task Norm Latest Timeline (Days) (1) (2) (3) (4) (5) 1 Section 33 and 34 Commencement of liquidation and appointment of liquidator LCD 0 = T 2 Sect....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of acceptance/rejection of claim Within 7 days of admission or rejection of claim T + 67 9 Reg. 31 (2) Filing the list of stakeholders 5[****] Within 45 days from the last date of receipt of claims T + 75 10 Section 42 Appeal by a creditor against the decision of the liquidator Within 14 days of receipt of such decision T + 81 11 Reg. 13 Preliminary report to the AA Within 75 da....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ithin 3 months from the receipt of amount Date of Realisation + 90 17 Reg.10 (1) Application to AA for Disclaimer of onerous property Within 6 months from the LCD T + 6 months 18 Reg.10 (3) Notice to persons interested in the onerous property or contract At least 7 days before making an application to AA for 4[disclaimer]. 19 Reg. 44 Liquidation of corporate debtor. Within one y....