valid as on 16/10/2019

IBC Section 38-Consolidation of claims.
Effective from 15.12.2016

(1) The liquidator shall receive or collect the  within a period of thirty days from the date of the commencement of the liquidation process.

(2) A financial creditor may submit a claim to the liquidator by providing a record of such claim with an information utility:

Provided that where the information relating to the claim is not recorded in the information utility, the financial creditor may submit the claim in the same manner as provided for the submission of claims for the operational creditor under sub-section (3).

(3) An operational creditor may submit a claim to the liquidator in such form and in such manner and along with such supporting documents required to prove the claim as may be specified by the Board.

(4) A creditor who is partly a financial creditor and partly an operational creditor shall submit claims to the liquidator to the extent of his financial debt in the manner as provided in sub-section (2) and to the extent of his operational debt under sub-section (3).

(5) A creditor may withdraw or vary his claim under this section within fourteen days of its submission

Refer regulation 17, 18, 19, 20 of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 . To view the regulation,Click Here

2.5.17:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

17. Claims by operational creditors.

(1) A person claiming to be an operational creditor of the corporate debtor, 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, if any; or

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

(i) a contract for the supply of goods and services with corporate debtor;

(ii) an invoice demanding payment for the goods and services supplied to the corporate debtor;

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

(iv) financial accounts.

To view the schedule,Click Here

2.5.18:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

18. Claims by financial creditors.

(1) A person claiming to be a financial creditor of the corporate debtor shall submit proof of claim to the liquidator in electronic means in

(2) The existence of debt due to the financial creditor may be proved on the basis of-

(a) the records available in an information utility, if any; or

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

(i) a financial contract supported by financial statements as evidence of the debt;

(ii) a record evidencing that the amounts committed by the financial creditor to the corporate debtor under a facility has been drawn by the corporate debtor;

(iii) financial statements showing that the debt has not been repaid; and

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

To view the schedule,Click Here

2.5.19:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

19. Claims by workmen and employees.

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

(2) Where there are dues to numerous workmen or employees of the corporate debtor, an authorized representative may submit one proof of claim for all such dues on their behalf in

(3) The existence of dues to workmen or employees may be proved by them, individually or collectively, on the basis of-

(a) records available in an information utility, if any; or

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

(i) a proof of employment such as contract of employment for the period for which such workman or employee is claiming dues;

(ii) evidence of notice demanding payment of unpaid amount and any documentary or other proof that payment has not been made; and

(iii) an order of a court or tribunal that has adjudicated upon the non-payment of dues, if any.

(4) The liquidator may admit the claims of a workman or an employee on the basis of the books of account of the corporate debtor if such workman or employee has not made a claim.

To view the schedule,Click Here
To view the schedule,Click Here

2.5.20:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

20. Claims by other stakeholders.

(1) A person, claiming to be a stakeholder other than those under Regulations 17(1), 18(1), or 19(1), shall submit proof of claim to the liquidator in person, by post or by electronic means in

(2) The existence of the claim of the stakeholder may be proved on the basis of –

(a) the records available in an information utility, if any, or

(b) other relevant documents which adequately establish the claim, including any or all of the following-

(i) documentary evidence of notice demanding payment of unpaid amount or bank statements of the claimant showing that the claim has not been paid and an affidavit that the documentary evidence and bank statements are true, valid and genuine;

(ii) documentary or electronic evidence of his shareholding; and

(iii) an order of a court, tribunal or other authority that has adjudicated upon the non-payment of a claim, if any.

To view the schedule,Click Here

IBC-Enforcement Notification [S.O.3687(E)] dated 09/12/2016


Schedule II-Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

FORM A

PROFORMA FOR REPORTING CONSULTATIONS WITH STAKEHOLDERS

(Under Regulation 8 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)

Separate proforma to be used for each stakeholder or group of homogenous stakeholders

NAME AND REGISTRATION NO. OF
LIQUIDATOR:
NAME OF CORPORATE DEBTOR BEING
LIQUIDATED:
LIQUIDATION CASE NO:
NAME OF THE STAKEHOLDER:
DATE OF CONSULTATION (IF HELD IN
PERSON):
NUMBER AND DATES OF COMMUNICATIONS
RECEIVED FROM STAKEHOLDER:
SUMMARY OF CONSULTATION:


PUBLIC ANNOUNCEMENT
(Regulation 12 of the Insolvency and Bankruptcy Board of India (Liquidation Process)
Regulations, 2016)

FOR THE ATTENTION OF THE STAKEHOLDERS OF [Name of Corporate Debtor]

Sl. No.PARTICULARSDETAILS
1.Name of corporate debtor
2.Date of incorporation of corporate debtor
3.Authority under which corporate debtor is incorporated / registered
4.Corporate Identity No. / Limited Liability Identification No. of corporate debtor
5.Address of the registered office and principal office (if any) of corporate debtor
6.Date of closure of Insolvency Resolution Process
7.Liquidation commencement date of corporate debtor
8.Name and registration number of the insolvency professional acting as liquidator
9.Address and e-mail of the liquidator, as registered with the Board
10.Address and e-mail to be used for correspondence with the liquidator
11.Last date for submission of claims

Notice is hereby given that the National Company Law Tribunal (Name of Bench) has ordered the commencement of liquidation of the [Name of the corporate debtor] on [date of passing of order of liquidation under section 33 of the Code].

The stakeholders of [—–Name of the corporate debtor] are hereby called upon to submit  their claims with proof on or before ——-[Insert the date falling thirty days after the liquidation commencement date] [ ], to the liquidator at the address mentioned against item No. 10.

The financial creditors shall submit their claims with proof by electronic means only. All other creditors may submit the claims with the proof in person, by post or by electronic means.

Submission of false or misleading proof of claims shall attract penalties.

Name and signature of liquidator :
Date and place :

FORM B

PUBLIC ANNOUNCEMENT

(Regulation 12 of the Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016)

FOR THE ATTENTION OF THE STAKEHOLDERS OF [Name of Corporate Debtor]

1NAME OF CORPORATE DEBTOR
2DATE OF INCORPORATION OF CORPORATE DEBTOR
3AUTHORITY UNDER WHICH CORPORATE DEBTOR IS INCORPORATED/ REGISTERED
4CORPORATE IDENTITY NUMBER / LIMITED LIABILITY IDENTITY
NUMBER OF CORPORATE DEBTOR
5ADDRESS OF THE REGISTERED OFFICE AND PRINCIPAL OFFICE (IF ANY) OF CORPORATE DEBTOR
6DATE OF CLOSURE OF INSOLVENCY RESOLUTION PROCESS
7LIQUIDATION COMMENCEMENT DATE OF CORPORATE DEBTOR
8NAME, ADDRESS, EMAIL ADDRESS, TELEPHONE NUMBER AND THE REGISTRATION NUMBER OF THE LIQUIDATOR
9LAST DATE FOR SUBMISSION OF CLAIMS

FORM C

PROOF OF CLAIM BY OPERATIONAL CREDITORS EXCEPT WORKMEN AND EMPLOYEES

(Under Regulation 17 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)

[Date]

To

The Liquidator

[Name of the Liquidator]

[Address as set out in the public announcement]

From

[Name and address of the operational creditor]

Subject: Submission of proof of claim in respect of the liquidation of [name of corporate debtor] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

[Name of the operational creditor] hereby submits this proof of claim in respect of the liquidation of [name of corporate debtor].

The details for the same are set out below:

1NAME OF OPERATIONAL CREDITOR
(IF AN INCORPORATED BODY PROVIDE IDENTIFICATION NUMBER
AND PROOF OF INCORPORATION, IF A PARTNERSHIP OR
INDIVIDUAL PROVIDE IDENTIFICATION RECORDS* OF ALL THE
PARTNERS OR THE INDIVIDUAL)
2ADDRESS OF OPERATIONAL CREDITOR FOR CORRESPONDENCE
3TOTAL AMOUNT OF CLAIM, INCLUDING ANY INTEREST, AS AT
LIQUIDATION COMMENCEMENT DATE AND DETAILS OF NATURE
OF CLAIM
PRINCIPAL :
INTEREST :
TOTAL CLAIM :
4DETAILS OF DOCUMENTS BY REFERENCE TO WHICH THE DEBT
CAN BE SUBSTANTIATED
5DETAILS OF ANY DISPUTE AS WELL AS THE RECORD OF
PENDENCY OF SUIT OR ARBITRATION PROCEEDINGS
6DETAILS OF HOW AND WHEN DEBT INCURRED
7DETAILS OF ANY MUTUAL CREDIT, MUTUAL DEBTS, OR OTHER
MUTUAL DEALINGS BETWEEN THE CORPORATE DEBTOR AND
THE OPERATIONAL CREDITOR WHICH MAY BE SET-OFF AGAINST
THE CLAIM
8DETAILS OF ANY RETENTION OF TITLE IN RESPECT OF GOODS OR
PROPERTIES TO WHICH THE DEBT REFERS OR ANY OTHER
SECURITY
8A
Inserted vide
IBBI (Liquidation Process)
(Amendment)
Regulations, 2019
dated 25.07.2019
WHETHER SECURITY INTEREST RELINQUISHED Yes/ No
9DETAILS OF ANY ASSIGNMENT OR TRANSFER OF DEBT IN HIS
FAVOUR
10DETAILS OF THE BANK ACCOUNT TO WHICH THE OPERATIONAL
CREDITOR’S SHARE OF THE PROCEEDS OF LIQUIDATION CAN BE
TRANSFERRED
11LIST OUT AND ATTACH THE DOCUMENTS RELIED ON IN
SUPPORT OF THE CLAIM.
(i)
(ii)
(iii)

Signature of operational creditor or person authorised to act on his behalf

(Please enclose the authority if this is being submitted on behalf of the operational creditor)

Name in BLOCK LETTERS

Position with or in relation to creditor

Address of person signing

*PAN, Passport, AADHAAR Card or the identity card issued by the Election Commission of India.

AFFIDAVIT

I, [name of deponent], currently residing at [address of deponent], do solemnly affirm and state as follows:

1. The above named corporate debtor was, at liquidation commencement date, that is, the __________ day of __________ 20______ and still is, justly and truly indebted to me [or to me and[insert name of copartners], my co-partners in trade, or, as the case may be] in the sum of Rs. __________ for _____ [please state consideration].

2. In respect of my claim of the said sum or any part thereof, I have relied on and the documents specified below:

[Please list the documents relied on as evidence of debt.]

3. The said documents are true, valid and genuine to the best of my knowledge, information and belief.

4. In respect of the said sum or any part thereof, I have not, nor have my partners or any of them, nor has any person, by my/our order, to my/our knowledge or belief, for my/ our use, had or received any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the operational creditor which may be set-off against the claim.]

Solemnly, affirmed at _____________________ on _________________ day, the __________day of__________ 20_____

Before me,

Notary / Oath Commissioner

Deponent’s signature

VERIFICATION

I, the Deponent hereinabove, do hereby verify and affirm that the contents of para ___ to __of this affidavit are true and correct to my knowledge and belief. Nothing is false and nothing material has been concealed therefrom.

Verified at ________ on this ________ day of ________ 201_____

Deponent’s signature

FORM D

PROOF OF CLAIM BY FINANCIAL CREDITORS

(Under Regulation 18 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)

[Date]

To

The Liquidator

[Name of the Liquidator]

[Address as set out in the public announcement]

From

[Name and address of the registered office and principal office of the financial creditor]

Subject: Submission of proof of claim in respect of the liquidation of [name of corporate debtor] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

[Name of the financial creditor] hereby submits this proof of claim in respect of the liquidation of [name of corporate debtor]. The details for the same are set out below:

1NAME OF FINANCIAL CREDITOR
(IF AN INCORPORATED BODY PROVIDE IDENTIFICATION
NUMBER AND PROOF OF INCORPORATION, IF A
PARTNERSHIP OR INDIVIDUAL PROVIDE IDENTIFICATION
RECORDS* OF ALL THE PARTNERS OR THE INDIVIDUAL)
2ADDRESS AND EMAIL OF FINANCIAL CREDITOR FOR
CORRESPONDENCE.
3TOTAL AMOUNT OF CLAIM, INCLUDING ANY INTEREST,
AS AT THE LIQUIDATION COMMENCEMENT DATE AND
DETAILS OF NATURE OF CLAIM (WHETHER TERM LOAN,
SECURED, UNSECURED)
PRINCIPAL :
INTEREST :
TOTAL CLAIM :
4DETAILS OF DOCUMENTS BY REFERENCE TO WHICH THE
DEBT CAN BE SUBSTANTIATED
5DETAILS OF ANY ORDER OF A COURT OF TRIBUNAL THAT
HAS ADJUDICATED ON THE NON-PAYMENT OF DEBT
6DETAILS OF HOW AND WHEN DEBT INCURRED
7DETAILS OF ANY MUTUAL CREDIT, MUTUAL DEBTS, OR
OTHER MUTUAL DEALINGS BETWEEN THE CORPORATE
DEBTOR AND THE FINANCIAL CREDITOR WHICH MAY BE
SET-OFF AGAINST THE CLAIM
8DETAILS OF ANY SECURITY HELD, THE VALUE OF THE
SECURITY, AND THE DATE IT WAS GIVEN
8A Inserted vide
IBBI (Liquidation Process)
(Amendment) Regulations, 2019
dated 25.07.2019

WHETHER SECURITY INTEREST RELINQUISHED Yes/ No
9DETAILS OF ANY ASSIGNMENT OR TRANSFER OF DEBT IN
HIS FAVOUR
10DETAILS OF THE BANK ACCOUNT TO WHICH THE
FINANCIAL CREDITOR’S SHARE OF THE PROCEEDS OF
LIQUIDATION CAN BE TRANSFERRED
11LIST OUT AND ATTACH THE DOCUMENTS RELIED ON IN
SUPPORT OF THE CLAIM.
(i)
(ii)
(iii)

Signature of financial creditor or person authorised to act on his behalf

(please enclose the authority if this is being submitted on behalf a financial creditor)

Name in BLOCK LETTERS

Position with or in relation to creditor

Address of person signing

*PAN, Passport, AADHAAR Card or the identity card issued by the Election Commission of India.

AFFIDAVIT

I, [name of deponent], currently residing at [address of deponent], do solemnly affirm and state as follows:

1. The above named corporate debtor was, at the liquidation commencement date, that is, the __________ day of __________ 20____ and still is, justly and truly indebted to me [or to me and [insert name of copartners], my co-partners in trade, or, as the case may be] in the sum of Rs. __________ for ……..[please state consideration].

2. In respect of my claim of the said sum or any part thereof, I have relied on the documents specified below:

[Please list the documents relied on as evidence of debt and of non-payment.]

3. The said documents are true, valid and genuine to the best of my knowledge, information and belief.

4. In respect of the said sum or any part thereof, I have not, nor have my partners or any of them, nor has any person, by my/our order, to my/our knowledge or belief, for my/ our use, had or received any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the financial creditor which may be set-off against the claim.]

Solemnly, affirmed at _____________________ on _________________ day, the __________day of__________ 20_____

Before me,

Notary / Oath Commissioner.

Deponent’s signature.

VERIFICATION

I, the Deponent hereinabove, do hereby verify and affirm that the contents of para ___ to __of this affidavit are true and correct to my knowledge and belief. Nothing is false and nothing material has been concealed therefrom.

Verified at ________ on this ________ day of ________ 201___.

Deponent’s signature.

FORM E

PROOF OF CLAIM BY A WORKMAN OR EMPLOYEE

(Under Regulation 19 of the Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016)

[Date]

To

The Liquidator

[Name of the Liquidator]

[Address as set out in public announcement]

From

[Name and address of the workman / employee]

Subject: Submission of proof of claim in respect of liquidation of (Name of corporate debtor) under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

[Name of the workman / employee], hereby submits this proof of claim in respect of the liquidation of [name of corporate debtor]. The details for the same are set out below:

1NAME OF WORKMAN/EMPLOYEE
2PAN, PASSPORT, THE IDENTITY CARD ISSUED BY THE
ELECTION COMMISSION OF INDIA OR AADHAAR
CARD OF WORKMAN / EMPLOYEE
3ADDRESS AND EMAIL ADDRESS (IF ANY) OF
WORKMAN / EMPLOYEE FOR CORRESPONDENCE
4TOTAL AMOUNT OF CLAIM
(INCLUDING ANY INTEREST AS AT THE LIQUIDATION
COMMENCEMENT DATE)
5DETAILS OF DOCUMENTS BY REFERENCE TO WHICH
THE DEBT CAN BE SUBSTANTIATED.
6DETAILS OF ANY DISPUTE AS WELL AS THE RECORD
OF PENDENCY OR ORDER OF SUIT OR ARBITRATION
PROCEEDINGS
7DETAILS OF HOW AND WHEN CLAIM AROSE
8DETAILS OF ANY MUTUAL CREDIT, MUTUAL DEBTS,
OR OTHER MUTUAL DEALINGS BETWEEN THE CORPORATE DEBTOR AND THE WORKMAN /
EMPLOYEE WHICH MAY BE SET-OFF AGAINST THE
CLAIM
9DETAILS OF THE BANK ACCOUNT TO WHICH THE
WORKMAN / EMPLOYEE’S SHARE OF THE PROCEEDS
OF LIQUIDATION CAN BE TRANSFERRED
10LIST OUT AND ATTACH THE DOCUMENTS RELIED ON
IN SUPPORT OF THE CLAIM.
(i)
(ii)
(iii)

Signature of workman / employee or person authorised to act on his behalf

[Please enclose the authority if this is being submitted on behalf of an operational creditor]

Name in BLOCK LETTERS

Position with or in relation to creditor

Address of person signing

AFFIDAVIT

I, [name of deponent], currently residing at [insert address], do solemnly affirm and state as follows:

5. [Name of corporate debtor], the corporate debtor was, at the liquidation commencement date, that is, the __________ day of __________ 20__, justly and truly indebted to me in the sum of Rs. [insert amount of claim].

6. In respect of my claim of the said sum or any part thereof, I have relied on the documents specified below:

[Please list the documents relied on as evidence of claim]

7. The said documents are true, valid and genuine to the best of my knowledge, information and belief.

8. In respect of the said sum or any part thereof, I have not nor has any person, by my order, to my knowledge or belief, for my use, had or received any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the workman / employee which may be set-off against the claim.]

Solemnly, affirmed at [insert place] on _________________ day, the __________day of__________ 20_____

Before me,

Notary/ Oath Commissioner

Deponent’s signature

VERIFICATION

I, the Deponent hereinabove, do hereby verify and affirm that the contents of paragraph ___ to __of this affidavit are true and correct to my knowledge and belief and no material facts have been concealed therefrom.

Verified at ______ on this _____ day of ____ 201__

Deponent’s signature.

FORM F

PROOF OF CLAIM BY AUTHORISED REPRESENTATIVE OF WORKMEN OR EMPLOYEES

(Under Regulation 19 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)

[Date]

To

The Liquidator

[Name of the Liquidator]

[Address as set out in the public announcement]

From

[Name and address of the authorised representative of workmen/ employees]

Subject: Submission of proof of claim in respect of the liquidation of [name of corporate debtor] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

I, [name of duly authorised representative of the workmen/ employees] currently residing at [address of duly authorised representative of the workmen/ employees], on behalf of the workmen and employees employed by the above named corporate debtor, solemnly affirm and say:

1. That the abovenamed corporate debtor was, on the liquidation commencement date, that is, the ________ day of ______ 20 ___ and still is, justly truly indebted to the several persons whose names, addresses, and descriptions appear in the Annexure below in amounts severally set against their names in such Annexure for wages, remuneration and other amounts due to them respectively as workmen or/ and employees in the employ of the corporate debtor in respect of services rendered by them respectively to the corporate debtor during such periods as are set out against their respective names in the said Annexure.

2. That for which said sums or any part thereof, they have not, nor has any of them, had or received any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credits, mutual debts, or other mutual dealings between the corporate debtor and the workmen / employees which may be set-off against the claim.]

Signature :

ANNEXURE

1. Details of Employees/ Workmen

S NO. NAME OF
EMPLOYEE/
WORKMEN
IDENTIFICATION
NUMBER
(PAN/, PASSPORT
NUMBER/, AADHAAR
NO. / ID CARD
ISSUED BY THE
ELECTION
COMMISSION AND
EMPLOYEE ID NO., IF
ANY
TOTAL AMOUNT DUE
AND DETAILS ON
NATURE OF CLAIM
PERIOD OVER
WHICH AMOUNT
DUE
DETAILS OF
EVIDENCE OF DEBT
INCLUDING
EMPLOYMENT
CONTRACTS AND
OTHER PROOFS
1
2
3
4
5

2. Particulars of how dues were incurred by the corporate debtor, including particulars of any dispute as well as the record of pendency of suit or arbitration proceedings.

3. Particulars of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the workmen / employee which may be set-off against the claim.

4. Please list out and attach the documents relied on to prove the claim.

AFFIDAVIT

I, [insert full name, address and occupation of deponent] do solemnly affirm and state as follows:

1. The above named corporate debtor was, at the liquidation commencement date that is, the __________ day of __________ 20__ and still is, justly and truly indebted to the workmen and employees in the sum of Rs. __________ for _____ [please state the nature and duration of employment].

2. In respect of my claim of the said sum or any part thereof, I have relied on the documents specified below:

[Please list the documents relied on as evidence of proof]

3. The said documents are true, valid and genuine to the best of my knowledge, information and belief.

4. In respect of the said sum or any part thereof, the workmen / employees have not, nor has any person, by my order, to my knowledge or belief, for my use, had or has received any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the workmen / employees which may be set-off against the claim.]

Solemnly, affirmed at _____________________ on _________________ day, the __________day of__________ 20_____

Before me,

Notary / Oath Commissioner.

Deponent’s signature

VERIFICATION

I, the Deponent hereinabove, do hereby verify and affirm that the contents of para ___ to __of this affidavit are true and correct to my knowledge and belief. Nothing is false and nothing material has been concealed therefrom.

Verified at _______ on this _______ day of _______ 201___

Deponent’s signature

FORM G

PROOF OF CLAIM BY ANY OTHER STAKEHOLDER

(Under Regulation 20 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016)

[Date]

To

The Liquidator

[Name of the Liquidator]

[Address as set out in the public announcement]

From

[Name and address of the other stakeholder]

Subject: Submission of proof of claim in respect of the liquidation of [name of corporate debtor] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

[Name of the other stakeholder] hereby submits this proof of claim in respect of the liquidation in the case of [name of corporate debtor]. The details for the same are set out below:

1NAME OF OTHER STAKEHOLDER
(IF AN INCORPORATED BODY PROVIDE
IDENTIFICATION NUMBER AND PROOF OF
INCORPORATION. IF A PARTNERSHIP OR
INDIVIDUAL PROVIDE IDENTIFICATION
RECORDS* OF ALL THE PARTNERS OR THE
INDIVIDUAL)
2ADDRESS AND EMAIL OF THE OTHER
STAKEHOLDER FOR CORRESPONDENCE.
3TOTAL AMOUNT OF CLAIM, INCLUDING
ANY INTEREST AS AT LIQUIDATION
COMMENCEMENT AND DETAILS OF
NATURE OF CLAIM
PRINCIPAL
CLAIM
:
INTEREST :
TOTAL CLAIM :
4DETAILS OF DOCUMENTS BY REFERENCE
TO WHICH THE CLAIM CAN BE
SUBSTANTIATED
5DETAILS OF HOW AND WHEN CLAIM
AROSE
6DETAILS OF ANY MUTUAL CREDIT,
MUTUAL DEBTS, OR OTHER MUTUAL
DEALINGS BETWEEN THE CORPORATE
DEBTOR AND THE OTHER STAKEHOLDER
WHICH MAY BE SET-OFF AGAINST THE
CLAIM
7DETAILS OF ANY RETENTION OF TITLE IN
RESPECT OF GOODS OR PROPERTIES TO
WHICH THE CLAIM REFERS
8DETAILS OF ANY ASSIGNMENT OR
TRANSFER OF DEBT IN HIS FAVOUR
9DETAILS OF THE BANK ACCOUNT TO
WHICH THE OTHER STAKEHOLDER’S
SHARE OF THE PROCEEDS OF LIQUIDATION
CAN BE TRANSFERRED
10LIST OUT AND ATTACH THE DOCUMENTS
RELIED ON IN SUPPORT OF THE CLAIM.
(i)
(ii)
(iii)

Signature of other stakeholder or person authorised to act on his behalf

(Please enclose the authority if this is being submitted on behalf of the other stakeholder)

Name in BLOCK LETTERS

Position with or in relation to creditor

Address of person signing

*PAN, Passport, AADHAAR Card or the identity card issued by the Election Commission of India.

AFFIDAVIT

I, [insert full name, address and occupation of deponent to be given] do solemnly affirm and state as follows:

1. The above named corporate debtor was, at the liquidation commencement date, that is, the __________ day of __________ 20__ and still is, justly and truly indebted to me [or to me and [insert name of copartner], my co-partners in trade, or, as the case may be,] in the sum of Rs. __________ for _____ [please state consideration].

2. In respect of my claim of the said sum or any part thereof, I have relied on the documents specified below:

[Please list the documents relied on as evidence of proof.]

3. The said documents are true, valid and genuine to the best of my knowledge, information and belief.

4. In respect of the said sum or any part thereof, I have not, nor have my partners or any of them, nor has any person, by my/our order, to my/our knowledge or belief, for my/ our use, had or received any manner of satisfaction or security whatsoever, save and except the following:

[Please state details of any mutual credit, mutual debts, or other mutual dealings between the corporate debtor and the other stakeholder which may be set-off against the claim.]

Solemnly, affirmed at _____________________ on _________________ day, the __________day of__________ 20_____

Before me,

Notary / Oath Commissioner.

Deponent’s signature.

VERIFICATION

I, the Deponent hereinabove, do hereby verify and affirm that the contents of para ___ to __of this affidavit are true and correct to my knowledge and belief. Nothing is false and nothing material has been concealed therefrom.

Verified at ______ on this ______ day of ______ 201__

Deponent’s signature.


COMPLIANCE CERTIFICATE

[Under Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016]

I, [Name of the Liquidator], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Board with registration number [registration number], am the Liquidator for the Liquidation Process of [name of the corporate debtor (CD)].
2. The details of the Liquidation Process are as under:

SI. No.ParticularsDescription
(1)(2)(3)
1Name of the corporate debtor
2Case No. & NCLT Bench
3Date of initiation of liquidation
4Date of appointment of liquidator
5Date of commencement of CIRP
6Name of RP during CIRP and his registration No. as IP
7Name of Liquidator and his registration No. as IP
8Date of Publication of Public Announcement under Form B
9Date of Intimation to Registry and Information Utility, if any, about commencement of Liquidation
10Date of handover of charge by RP
11Date of submission of compliance, if any, directed by AA in the liquidation order and its particulars
12Date of appointment of registered valuers, if any
13Date of notice for uncalled capital/unpaid capital contribution
14Date of realisation of uncalled capital/unpaid capital contribution
15Date of realisation of uncalled capital/unpaid capital contribution
16Date of constitution of Consultation Committee
17No. of meetings of consultation committee held
18Date of submission of list of stakeholders to AA
19Date of public announcement of list of stakeholders
20Date of filing of preliminary report & assets memorandum to AA
21Fair value
22Liquidation value
23Date of public announcement for auction (please add additional rows, if required)
24Date of order of AA to dispense with the public announcement for Auction
25Date of permission of AA for physical Auction
26Date of permission of AA for private sale
27Date of permission of AA for distribution of unsold assets to stakeholders
28Date of permission of the liquidator to realise the un-relinquished security interest by the secured creditor
29Modified list of stakeholders and date of submission to AA
30Date of first realisation
31Date of second realisation
32Date of first distribution
33Date of second distribution
34Date of submission of Quarterly Progress Report-I (FY-1)
35Date of submission of Asset Sales Report to AA
36Date of submission of Quarterly Progress Report-II
37Date of submission of Quarterly Progress Report-III
38Date of submission of Quarterly Progress Report-IV & Audit Report
39Date of submission of Quarterly Progress Report-I (FY-2)
40Date of submission of Quarterly Progress Report-II
41Date of submission of Quarterly Progress Report-III
42Date of submission of Quarterly Progress Report-IV & Audit Report
43Date of intimation to statutory authority as applicable.
a) PF
b) ESI
c) Income Tax Dept
d) Inspector of Factory
e) GST/VAT
f) Others
44Date of application to AA as per Reg 46(1)
45Date of transfer of undistributed/unclaimed assets or proceeds of liquidation to public Account of India
46Date of intimation as per Reg 46(3)
47Date of Final Report to AA (prior to dissolution application)

3. The details of the assets as per Asset Memorandum and Final Sale Report are as under:

SI.No.AssetsMode of SaleEstimated Liquidation ValueRealisation Amount (Rs.)Date of Transfer to Liquidation Account
(1)(2)(3)(4)(5)(6)

4. (a) Liquidation value of the liquidation estate:

(b) Amount realised from sale of liquidation estate:

(c) The amounts distributed to stakeholders as per section 52 or 53 of Code are as under:

(Amount in Rs. lakh)

SI. No.Stakeholders* under section 53 (1)Amount ClaimedAmount AdmittedAmount DistributedAmount Distributed to the Amount Claimed (%)Remarks
(1)(2)(3)(4)(5)(6)(7)
1(a): CIRP Costs
2(a): Liquidation Costs
3(b)(i)
4(b)(ii)
5(c)
6(d)
7(e)(i)
8(e) (ii)
9(f)
10(g)
11(h)
Total

*If there are sub-categories in a category, please add rows for each sub-category.

5. The Liquidation Process has been conducted as per the timeline indicated in regulation 47 as under:

Section of the Code / Regulation No.Description of TaskTimeline as per regulation 47Actual Timeline
(1)(2)(3)(4)
Section 33Commencement of LCD and Appointment of LiquidatorTT

6. The following are deviations /non-compliances with the provisions of the Insolvency and Bankruptcy Code, 2016, regulations made, or circulars issued there under (If any deviation/ non-compliances were observed, please state the details and reasons for the same):

SI.No.Deviation/Non-compliance observedSection of the Code / Regulation No. / Circular No.ReasonsWhether rectified or not
(1)(2)(3)(4)(5)
1
2
3

7. The dissolution application has been filed [before expiry of the period of one year] / [after expiry of one year]. Please state details of any extension sought with the reason and granted:

8. The details of application(s) filed / pending in respect of avoidance of transactions.

SI.No.Type of TransactionDate of Filing with Adjudicating AuthorityDate of Order of the Adjudicating AuthorityBrief of the Order
(1)(2)(3)(4)(5)
1Preferential transactions under section 43
2Undervalued transactions under section 45
3Extortionate credit transactions under section 50
4Fraudulent transactions under section 66

9. All undischarged or matters pending before any Court or Tribunal relating to corporate debtor, if any, have been reported to AA.

10. I (Name of Liquidator), hereby certify that the contents of this certificate are true and correct to the best of my knowledge and belief, and nothing material has been concealed there from.

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

Date:
Place:

 

Substituted vide the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2018 dated 22.10.2018. To view the Notification, Click Here
Substituted vide IBBI (Liquidation Process) (Amendment) Regulations, 2019 dated 25.07.2019. To view the notification,Click Here
Inserted vide IBBI (Liquidation Process) (Amendment) Regulations, 2019 dated 25.07.2019. To view the notification,Click Here

CAIRR PLUS on Google Playsecretarial automation?Subscribe for Updates