Chapter I. PRELIMINARY
Chapter II.COMMENCEMENT OF LIQUIDATION
Chapter III.APPOINTMENT AND REMUNERATION OF LIQUIDATOR
Chapter IV.POWERS AND FUNCTIONS OF THE LIQUIDATOR
- Preliminary Report.
- Registers and books of account.
- Engagement of professionals.
- Consultation with stakeholders.
- Extortionate credit transactions.
- Public announcement by the liquidator.
- Proof of claim.
- Claims by operational creditors.
- Claims by financial creditors.
- Claims by workmen and employees.
- Claims by other stakeholders.
- Proving security interest.
- Production of bills of exchange and promissory notes.
- Substantiation of claims.
- Cost of proof.
- Determination of quantum of claim.
- Debt in foreign currency.
- Periodical payments.
- Debt payable at future time.
- Mutual credits and set-off.
- Verification of claims.
- List of stakeholders.
Chapter VI.REALISATION OF ASSETS
- Manner of sale.
- Recovery of monies due.
- Liquidator to realize uncalled capital or unpaid capital contribution.
Chapter VII.PROCEEDS OF LIQUIDATION AND DISTRIBUTION OF PROCEEDS
- All money to be paid in to bank account.
- Return of money.
- Completion of liquidation.
- Final Report.
- Corporate Voluntary Liquidation Account.
Unclaimed proceeds of liquidation or undistributed assets
- Detection of Fraud or Insolvency.
- Preservation of records.