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LIQUIDATOR

The vendor is a bankruptcy proficient on whom all the forces of the Board of Directors, key administrative staff and the accomplices, as pertinent, of the Corporate Debtor are vested by the Adjudicating Authority upon Liquidation request being passed under segment 33. Vendor holds a semi legal position.

Where the Adjudicating Authority passes a request for Liquidation of a corporate Debtor at first under CIRP, the Resolution Professional designated under CIRP will go about as the Liquidator with the end goal of Liquidation except if supplanted by the Adjudicating Authority.

Primary obligations of a Liquidator :

  1. To Admit and Reject cases of  Creditors,
  2. Power to get to any data framework with the end goal of confirmation of Claims and recognizable proof of resources shaping piece of Liquidation Estate of the Corporate Debtor from sources, for example, Information Utility, Credit Information Systems, Central and State Government Agency, information base kept up by the Board and so on as indicated in Section 37 of the Code.
  3. To assess particular exchanges, if any done by the Corporate Debtor.
  4. Avoid underestimated transactions
  5. Distribute the Liquidation continues according to Section 53 of the Code.
  6. Make application for the Dissolution of the Corporate Debtor once the entirety of its resources are properly liquidated.
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