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

SCHEDULE II

(Under Regulation 10 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017)

The formats contained in this Schedule are indicative in nature, and the liquidator may make such modifications to them as he deems fit in view of the facts and circumstances of the liquidation.

CASH BOOK

Name of Corporate person……………………………………………….(in liquidation)

Date Particulars Ledger
Folio No.		Receipt Payments Balance
Voucher
No.
Cash Bank TotalVoucher
No.
Cash BankTotalCash BankTotal
1234567891011121314

Under column ‘particulars’, the head of account to which the entry relates to should be indicated so that the entry may be posted under the proper head in the General Ledger.

GENERAL LEDGER

Name of Corporate person……………………………………………….(in liquidation) ……………………………………………….(Head of account)

Date Particulars Dr.
(Rs.) 		Cr.
(Rs.) 		Balance
(Rs.)
12345

Instructions:

1.A General Ledger should be maintained with such heads of account as the liquidator may think necessary and appropriate.
The following heads of account may be found suitable:
(1) Asset account
(2) Investments account
(3) Book Debts and Outstandings account
(4) Calls
(5) Rent Collected/rent receivable
(6) Interest on Securities and Deposits
(7) Advances received
(8) Miscellaneous receipts payments
(9) Establishment
(10) Legal charges
(11) Rents, Rates and Taxes payable
(12) Fees and Commission account
(13) Other expenses
(14) Suspense account
(15) Secured creditors
(16) Dividend account.

2. The entries in the General Ledger should be posted from the Cash Book.

3. The total of the debit balances and the total of the credit balances of the several heads of account in the General Ledger should agree, after taking into consideration the cash and bank balances as shown in the Cash Book. The totals should be tallied once a month.

BANK LEDGER

Corporate person’s (in voluntary liquidation) account with the Scheduled Bank

DateParticulars Deposits Withdrawals Balance
Challan
Number 		Rs. Cheque
Number 		Rs. Rs.
1234567

REGISTER OF ASSETS

Sl. No. Description
of assets		Date of
taking
possession		Serial
number of
Sales
Register		Date of
sale		Date of
realization 		AmountRemarks
12345678
1.
2.

Instructions:

1. All the assets of the corporate person except the liquidator’s investments in securities and outstanding to be realized should be entered in this Register.

SECURITIES AND INVESTMENTS REGISTER

Sl. No. Petition
number
and name
of the
corporate
person		Date of
investment		Nature
and
particulars
of security
in which
investment
is made
Amount
Invested
(Rs.)
Dividend
or interest
received
with date
of receipt
(Rs.)
Date of
disposal		Remarks
12345678
1.
2.

REGISTER OF BOOK DEBTS AND OUTSTANDINGS

Sl. No. Name and
address
of debtor		Particulars
of debt		Amount
due
(Rs.)		Date of
bar by
limitation		Amount
realised
(Rs.)		Action
taken		Date of
realisation		Reference
to Suits

Register		Remarks
12345678910
1.
2.
3.

Instructions:
1. All debts due to the corporate person, both secured and unsecured, including amounts due for arrears of calls made prior to the liquidation, should be entered in this Register.

TENANTS LEDGER

1. Description of assets:
2. Name and address of tenant:
3. Date of tenancy:
4. Period of tenancy:
5. Rent (monthly or annual):
6. Special terms, if any:
7. Arrears on date of taking charge of assets:
8. Advance received, if any:

Month Demand Realization BalanceRemarks
Amount
(Rs.)		Date Amount
(Rs.) 		Amount
(Rs.)
123456
January
February

SUITS REGISTER

Sl.
No.		Number
of
suit or
appeal
and
court		Name
and
address
of
plaintiff/
appellant
and his
advocate		Name and
address of
defendant/
respondent
and his
advocate		Amount
of
claim		Date
of
filing		Dates
of
hearing		Date
of
decree
or
final
order		Nature
of
relief
granted		Amount
decreed		Costs
decreed		Reference
to
Decree
Register		Remarks
12345678910111213
1.
2.

Instructions:
1. Applications made by or against the corporate person which are in the nature of suits should also be entered in this Register.

DECREE REGISTER

Number
of suit or
appeal
and
court		Name
and
address
of judgment debtor		Amount
Decreed
(Rs.)		Date of
decree		Action
taken		Amount
realized (Rs.)		Date of
realisation		Reference to
Suits
Register
12345678
1.
2.

Instructions:

1. The purpose of the Register is to enable the liquidator to keep watch on the progress of the realization of decrees in favor of the corporate person in his charge.

2. Every decree or order for payment of money or delivery of assets in favor of the corporate person including an order for payment of costs whether made in a suit, appeal or application, should be entered in this Register.

REGISTER OF CLAIMS AND DISTRIBUTIONS

Claims Distributions declared and paid Remarks
Sl. No. Name and
Address of credit
or		Amount claim
ed (Rs.) 		Nature of
claim (Rs.)		Amount
admitted
(Rs.) 		Whether
ordinary
or preferential
Date Amount
(Rs.)		Date and
Mode of
Payment		Rate Amount
(Rs.)		Date and mode of
payment
Rate Amount
(Rs.) 		Date and
mode of
payment
12345678910111213141516
1.
2.

Instructions:

1. Only claims admitted either wholly or in part should be entered in this Register.

2. The page on the left side should be reserved for claims and the page on the right side for Distributions.

CONTRIBUTORY’S LEDGER

Sl. No. Name and
address of
contributory		Number of shares
or extent of
interest held, and
amount paid
thereon 		Calls Remarks Returns of share capitalRemarks
First call2nd
call/ 3rd call		Date
of
return 		Date of
Payment 		Amount paid
(Rs.)
Date of call
and amount
called
Amount paid
and date of
payment 		(Repeat columns
as under first
call)
123456 to 91011121314

Instructions:
Only contributories settled on the list should be entered in this Register and they should be entered in the same order as in the list.

DISTRIBUTIONS REGISTER
Date on which distribution is made:
Total amount payable in this round of distribution:

Date Number on list of stakeholders Particulars Receipts Payments
12345
1.
2.

Instructions:
1. Separate pages should be set apart for preferential and ordinary distributions.
2. The payments should be entered as and when they are made. Any amount which is returned unpaid should be re-entered in the account under ‘Receipts’.
3. The number in column 2 should be the number of the stakeholders in the list of stakeholders as finally settled.
4. The total amount of unclaimed distribution payable into the Public Account of India, and the amount paid into the Bank with the date of payment, should be shown at the end of the account.

FEE REGISTER

Amount realized on
which fee are payable 		Amount distributed on
which fee are payable 		Fee payable on the amounts in
the two preceding columns
Total fee
payable 		Date of
payment
12356
1.
2.

Instructions:
1. There should be a fresh opening for each year.
2. The fees due to the liquidator should be entered in the Register as soon as the audit of the account for a quarter is
completed.

SUSPENSE REGISTER

DateParticulars Debit (Rs.) Credit(Rs.) Balance (Rs.)
12345
1.
2.

Instructions:
1. Advances made by the liquidator to any person should be entered in this Register.
2. There should be a separate opening for each person.

DOCUMENTS REGISTER

Sl. No. Description of
document
Date of receipt From whom
received
Reference number of shelf in which
document is kept
How disposed
of		Remarks
1234567
1.
2.

Instruction: All documents of title like title-deeds, shares, promissory notes, etc., should be entered in this Register.

BOOKS REGISTER

Date From whom
received 		Serial Number Description of
books, including
files 		Shelf number How disposed
of		Remarks
1234567
1.
2.

Instruction: All books and files of the corporate person which come into the hands of the liquidator should be entered in this Register.

REGISTER OF UNCLAIMED DIVIDENDS AND UNDISTRIBUTED ASSETS DEPOSITED

Sl. No. Name of person
entitled to
the dividend or
return
Whether
Creditor or
Contributory 		Number on list
of stakeholders 		Date of
declaration of
dividend or
return
Rate of dividend
or return 		Total
amount
payable
(Rs.)
1234567
1.
2.

Substituted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020 dated 15.01.2020. To view the notification,Click Here
Inserted vide Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020 dated 15.01.2020. To view the notification,Click Here