Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022

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.... and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, namely: - 1  (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022.    (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (hereinafter referred to as "the principal regulations'), in regulation 2, in sub-regulation (1), in clause (c), for the figure and brackets "3(4)", the figure and brackets "3(3)" shall be substituted. 3. In the principal regulations, in regulation 5, in sub-regulation (2), for the word "th....

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.... substituted, namely: - "(3) The liquidator shall submit the Final Report and the compliance certificate in Form-H along with the application under sub-section (7) of section 59 to the Adjudicating Authority." 9. In the principal regulations, in regulation 39, in sub-regulation (7), for the word and letter "Form-H", the word and letter "Form-I" shall be substituted. 10. In the principal regulations, in Schedule I, for the word and letter "Form-H", the word and letter "Form-I" shall be substituted. 11. In the principal regulations, in Schedule I, after Form-G, the following form shall be inserted, namely: - "FORM-H COMPLIANCE CERTIFICATE [Under Regulation 38(3) of the Insolvency and Bankruptcy Board of India (Volun....

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....nt of unclaimed dividends b. Amount of undistributed proceeds c. Income referred to in sub-regulation (2) and (3) of regulation 39 d. Interest referred to in sub-regulation (4) of regulation 39 Total   13 Remuneration of Liquidator (Rs.)   3.  Details of the corporate person: Sl. No. Particulars Description (1) (2) (3) 1 Year of Incorporation   2 Objects in brief   3 Paid up Share Capital / Capital (Amount in Rs.)   4 Assets as on Liquidation Commencement date (Amount in Rs.)   5 Debt payable as on Liquidation Commencement date (Amount in Rs.)   6 Net-worth of the Corporate Person (Amount in Rs.) &n....

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....;+ Amount Unpaid following Enforcement of Security Interest [Sec.53(1)(e)]           8 Any remaining Debts and Dues [Sec. 53(1)(f)]           9 Preference Shareholders [Sec. 53(1)(g)]           10 Equity Shareholders [Sec.53(1)(h)]           Total           *If there are sub-categories in a category, please add rows for each sub-category. 6.  The Voluntary Liquidation Process has been conducted as per the stipulated timeline: Sl. No. Section / Regulation Description of Task Norm (Number of Da....

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....bsp;claims by stakeholders T + 30     8 Section 38(5) Withdrawal/ modification of claim by stakeholders T + 44     9 Regulation 9(1) Submission of preliminary report to the corporate person by the Liquidator T + 45     10 Regulation 29(1) Verification of claims by the Liquidator T + 60     11 Section 40 (2) Intimation about decision of acceptance/ rejection of claim to the stakeholders by the Liquidator T + 67     12 Regulation 30(2) Preparation of list of stakeholders by the Liquidator T + 45*/75     13 Section 42 Appeal by creditor against the ....

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....ode / Regulation No. / Circular No. Reasons Whether rectified or not (1) (2) (3) (4) (5) 1         2         3         8. The details of application(s) filed / pending in respect of avoidance of transactions. Sl. No. Type of Transaction Date of Filing with Adjudicating Authority Date of Order of the Adjudicating Authority Brief of the Order (1) (2) (3) (4) (5) 1 Preferential transactions under section 43       2 Undervalued  transactions  under section 45       3 Extortionate credit....