valid as on 26/10/2020

2.9.16:Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

16. Claims by operational creditors.

(1) A person claiming to be an operational creditor of the corporate person, other than a workman or employee, shall submit proof of claim to the liquidator in person, by post or by electronic means in

(2) The existence of debt due to an operational creditor under this Regulation may be proved on the basis of-

(a) the records available with an information utility; or

(b) other relevant documents which adequately establish the debt, including any of the following –

(i) a contract for the supply of goods or services with corporate person, supported by an invoice demanding payment for the goods and services supplied to the corporate person;

(ii) an order of a court or tribunal that has adjudicated upon the non-payment of a debt, if any; and

(iii) financial accounts of the corporate person.

Refer Schedule I of  Insolvency and Bankruptcy Board of India Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. To view the schedule,Click Here

Schedule I-Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.

In Form A, for  the words “insert the date falling thirty days after the liquidation commencement date”, these words will be substituted

After Form F, following forms are inserted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020 dated 15.01.2020. To view the notification,Click Here.

FORM-G
Deposit of Unclaimed Dividends and/or Undistributed Proceeds
[Under Regulation 39(5) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017]

A. Details of Voluntary Liquidation Process

Sl. No.DescriptionParticulars
(1)(2)(3)
1Name of the Corporate Person
2Identification Number of Corporate Person (CIN/LLPIN)
3Voluntary Liquidation Commencement Date
4Date of Deposit into the Corporate Voluntary Liquidation Account
5Amount deposited into the Corporate Voluntary Liquidation Account (Rs.)
6Bank Account from which the amount is transferred to Corporate Voluntary Liquidation Account
a. Account No:
b. Name of Bank:
c. IFSC:
d. MICR:
e. Address of Branch of the Bank:
7Details of the Amount (Rs.) deposited into Corporate Voluntary Liquidation Account
a. Unclaimed dividends
b. Undistributed proceeds
c. Income earned till the due date of deposit
d. Interest at the rate of twelve per cent on the amount retained beyond due date (Please show computation of interest amount)

Total

B. Details of Stakeholders entitled to Unclaimed Dividends or Undistributed Proceeds

Sl. No.Name of stakeholder entitled to receive unclaimed dividends or undistributed proceedsAddress, phone number and email address of the stakeholderIdentification Number of the stakeholder (PAN, CIN/LLPIN/DIN, Aadhaar No.) (Please attach Identification proof.)Amount due to the stakeholder (Rs.)Nature of Amount dueRemarks
(1)(2)(3)(4)(5)(6)(7)
1
2
3

C. Details of Deposit made into the Corporate Voluntary Liquidation Account

I (Name of Liquidator) have deposited Rs…… (Rupees ….only) into the Corporate Voluntary Liquidation Account on …. vide acknowledgment no.. … dated ……

I (Name of Liquidator) hereby certify that the details provided in this Form are true and correct to the best of my knowledge and belief, and nothing material has been concealed.

(Signature)
Name of the Liquidator IP Registration No:
Address as registered with the Board:
Email id as registered with the Board:

Date:…………..

Place:……………………..

FORM-H
Withdrawal from Corporate Voluntary Liquidation Account
[Under Regulation 39(7) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017]

Sl. No.DescriptionParticulars
(1)(2)(3)
1Name of the Corporate Person
2Identification Number of Corporate Person (CIN/LLPIN)
3Voluntary Liquidation Commencement Date
4Date of Dissolution Order
5Date of Deposit into the Corporate Voluntary Liquidation Account
6Name of the Stakeholder seeking withdrawal
7Identification Number of the Stakeholder
a. PAN
b. CIN/LLPIN/DIN
c. Aadhaar No.
8Address and Email Address of Stakeholder
9Amount of Claim of the Stakeholder, admitted by the Liquidator
10Amount of unclaimed dividends / undistributed proceeds deposited by the Liquidator in the Corporate Voluntary Liquidation Account against the stakeholder
11Amount of unclaimed dividends / undistributed proceeds the Stakeholder seeks to withdraw from the Corporate Voluntary Liquidation Account
12Bank Account to which the amount is to be transferred from the Corporate Voluntary Liquidation Account, if withdrawal is approved
(a) Account No.:
(b) Name of Bank:
(c) IFSC:
(d) MICR:
(e) Address of Branch of the Bank:
13Reasons for not taking dividend or proceeds during the Voluntary Liquidation Process
14Any legal disability in applying for withdrawal? (Yes / No), If yes, please provide details

DECLARATION

I, [Name of stakeholder], currently residing at [insert address], hereby declare and state as follows:
1. I am entitled to receive a sum of Rs…. (Rupees … only) from the Corporate Voluntary Liquidation Account, as presented above.
2. In respect of the said sum or any part thereof, neither I nor any person, by my order, to my knowledge or belief, for my use, has received any manner of satisfaction or security whatsoever, save and except the following: ……………
3. I undertake to refund the entire amount with interest as decided by the Board, in case the Board finds that I am not entitled to this amount.
4. I authorise the Board to initiate appropriate legal action against me if my claim is found false at any time.

Date:
Place:

(Signature of the Stakeholder)

VERIFICATION

I, [Name] the stakeholder hereinabove, do hereby verify that the contents of this Form are true and correct to my knowledge and belief and no material fact has been concealed therefrom.

Verified at … on this …… day of ………., 20…                               (Signature of the Stakeholder)

[Note: In the case of a company or limited liability partnership, the declaration and verification shall be made by the director/manager/secretary/ designated partner and in the case of other entities, an officer authorised for the purpose by the entity]

Substituted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2019 dated 15.01.2019. To view the notification,Click Here

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