Services of Liquidator as required under Section 35 of the Insolvency and Bankruptcy Code, 2016

1. Coordinating with the corporate person for necessary information to prepare the estimates of assets and liabilities

2. Conducting consultations with various stakeholders of the company

3. Preparation of Minutes of those consultations

4. Preparation of Preliminary report after the liquidation commencement date

5. Facilitating in preparation of proposed plan of action for carrying out the liquidation along with timelines and costs involved

6. Coordinating with various other professionals/personnel of the corporate person to get the books of account completed

7. Maintenance of various registers as specified under IBC and the rules/regulations thereunder

8. Coordinating with various professionals who shall be appointed for facilitating the liquidation process.

9. Issuing of public announcement

10. Coordinating with the Corporate debtor to receive the claims from various stakeholders

11. Verification of the claims received

12. Investigating the financial affairs of the corporate debtor to determine the undervalued or preferential transactions

13. Verification of any preferential/undervalued/Transactions defrauding creditors/Extortionate transactions

14. Taking into custody and control all the assets, property, effects and actionable claims of the corporate debtor.

15. Evaluating the assets and property of the corporate debtor

16. Taking such measures to protect and preserve the assets and properties of the corporate debtor.

17. Carrying on the business of the corporate debtor for its beneficial liquidation

18. Conducting the sale of assets

19. Drawing, accepting, making and endorsing any negotiable instruments in the name and on behalf of the corporate debtor

20. Recovery of monies due

21. Obtaining professional assistance by appointing such professionals for facilitating in discharge of duties, obligations and responsibilities

22. Inviting and settling the claims of creditors and claimants

23. Preparation of Annual status report

24. Preparation of the Final report

25. Preparation of sale statement

26. Distribution of the proceeds after realization to the stakeholders

27. In case of any unclaimed proceeds of liquidation, making an application to the Adjudicating Authority for an order to pay into the companies liquidation account in the public account of India

28. Instituting or defending any suit, prosecution or other legal proceedings, civil or criminal in the name of and on behalf of the corporate debtor


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