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02nd June, 2026 Circular - Formats under the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. (941.69 KB)

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INSOLVENCY AND BANKRUPTCY BOARD OF INDIA 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001

CIRCULAR No. IBBI/VL/97/2026

2nd June, 2026 To All Registered Insolvency Professionals All Recognized Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on the website of the IBBI)

Subject - Formats under the Insolvency and Bankruptcy Board of India (Voluntary

Liquidation Process) Regulations, 2017. The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (VL Regulations), as amended by the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2026 specify various forms relating to the process to be notified by Board through circular.
2. Accordingly, in exercise of the powers conferred under section 196 of the Code read with the VL Regulations, the following formats are hereby specified: Sl. No. Regulation Description Form 1 Regulation 14 Public Announcement Form A 2 Regulation 16 Proof of Claim by Operational Creditors except Workmen and Employees Form B 3 Regulation 17 Proof of Claim by Financial Creditors Form C 4 Regulation 18(1) Proof of Claim by a Workman or Employee Form D 5 Regulation 18(2) Proof of Claim by Authorised Representative of Workmen or Employees Form E 6 Regulation 19 Proof of Claim by Any Other Stakeholder Form F 7 Regulation 39(5) Deposit of Unclaimed Dividends and/or Undistributed Proceeds into Corporate Voluntary Liquidation Account Form G 8 Regulation 38(3) Compliance Certificate Form H

Form F 7 Regulation 39(5) Deposit of Unclaimed Dividends and/or Undistributed Proceeds into Corporate Voluntary Liquidation Account Form G 8 Regulation 38(3) Compliance Certificate Form H

Sl. No. Regulation Description Form 9 Regulation 39(7) Withdrawal from Corporate Voluntary Liquidation Account Form I 10 Regulation 42(2) Intimation for Termination of Voluntary Liquidation Proceedings Form J

The formats of the above Forms are enclosed at the Annexure to this Circular.
This Circular is issued in exercise of the powers conferred under section 196 read with section 240 of the Code. Sd/- (Jithesh John) Executive Director

Annexure

FORM A PUBLIC ANNOUNCEMENT (Under Regulation 14 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017)

FOR THE ATTENTION OF THE STAKEHOLDERSOF [Name of Corporate person]

Name of Corporate Person

Date of incorporation of Corporate Person

Authority under which Corporate Person is incorporated/ registered

Corporate Identity Number / Limited Liability Identity Number of Corporate Person

Address of the registered office and principal office (if any) of Corporate Person

Liquidation Commencement Date of Corporate Person

Name, address, email address, telephone number and the registration number of the Liquidator

Last date for submission of claims

Notice is hereby given that the [name of the corporate person] has commenced voluntary liquidation on [liquidation commencement date].

the Liquidator

Last date for submission of claims

Notice is hereby given that the [name of the corporate person] has commenced voluntary liquidation on [liquidation commencement date].

The stakeholders of [name of the corporate person] are hereby called upon to submit a proof of their claims, on or before [insert the date falling thirty days from the liquidation commencement date], to the liquidator at the address mentioned against item 7.

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

Submission of false or misleading proofs of claim shall attract penalties.

Name and Signature of the Liquidator: Date and Place:

FORM B

PROOF OF CLAIM BY OPERATIONAL CREDITORS EXCEPT WORKMEN AND EMPLOYEES

(Under Regulation 16 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017)

[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 voluntary liquidation of [name of

corporate person] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

[Name of the operational creditor] hereby submits this proof of claim in respect of the voluntary liquidation of [name of corporate person]. The details for the same are set out below:
1. Name 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)

Address of operational creditor for correspondence

Total amount of claim, including any interest, as at voluntary liquidation process commencement date and details of nature of claim

Details of any dispute as well as the record of pendency of suit or arbitration proceedings

Details of how and when debt incurred

Details of any mutual credit, mutual debts, or other mutual dealings between the corporate person and the operational creditor which may be set-off against the claim

Details of any retention of title in respect of goods or properties to which the debt refers or any other security

Details of any assignment or transfer of debt in his favour 9. Details of the bank account to which the operational creditor’s share of the proceeds of liquidation can be transferred

ecurity

Details of any assignment or transfer of debt in his favour 9. Details of the bank account to which the operational creditor’s share of the proceeds of liquidation can be transferred

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:

The above named corporate person 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 co-partners], my co-partners in trade, or, as the case may be] for a sum of Rs. __________ for _____ [please state consideration].

In respect of my claim of the said sum or any part thereof, I have relied on and the documents specified below: [Please list out the documents relied on as evidence of debt.]

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

nts specified below: [Please list out the documents relied on as evidence of debt.]

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

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

List out and attach the Documents relied on in support of 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

rect 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 C PROOF OF CLAIM BY FINANCIAL CREDITORS

(Under Regulation 17 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017) [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 voluntary liquidation of [name of

corporate person] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

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

Name 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)

Address and email of financial creditor for correspondence.

Total amount of claim, including any interest, as at the liquidation commencement date and details of nature of claim (whether term loan, secured, unsecured)

Details of any order of a court of tribunal that has adjudicated on the non-payment of debt

Details of how and when debt incurred

Details of any mutual credit, mutual debts, or other mutual dealings between the corporate person and the financial creditor which may be set-off against the claim

Details of any security held, the value of the security, and the date it was given

Details of any assignment or transfer of debt in his favour 9.
Details of the bank account to which the financial creditor’s share of the proceeds of liquidation can be transferred

s given

Details of any assignment or transfer of debt in his favour 9.
Details of the bank account to which the financial creditor’s share of the proceeds of liquidation can be transferred

List out and attach the Documents by reference to which the debt can be substantiated and in support of the Claim.

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:

The above named corporate person was, at the voluntary 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 co-partners], my co-partners in trade, or, as the case may be] for a sum of Rs. __________ for ……..[please state consideration].

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.]

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

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

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

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 person 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

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

Deponent's signature.

FORM D PROOF OF CLAIM BY A WORKMAN OR EMPLOYEE (Under Regulation 18(1) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017)

[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 voluntary liquidation of (Name of

corporate person) under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

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

Name of workman / employee 2.
Pan, Passport, the identity card issued by the Election Commission of India or Aadhaar Card of workman / employee

Address and email address (if any) of workman / employee for correspondence

Total amount of claim
(Including any interest as at the voluntary liquidation commencement date)

Details of any dispute as well as the record of pendency or order of suit or arbitration proceedings

Details of how and when claim arose

Details of any mutual credit, mutual debts, or other mutual dealings between the corporate person and the workman / employee which may be set-off against the claim

Details of the bank account to which the workman / employee’s share of the proceeds of liquidation can be transferred

List out and attach the Documents by reference to which the debt can be substantiated and relied on in support of the Claim.

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]

support of the Claim.

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:

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

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

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 person 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

aim.]

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 E

PROOF OF CLAIM BY AUTHORISED REPRESENTATIVE OF WORKMEN OR EMPLOYEES

(Under Regulation 18(2) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017)
[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 voluntary liquidation of [name of

corporate person] 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 person, solemnly affirm and say:

That the abovenamed corporate person was, on the voluntary 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 for 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 person in respect of services rendered by them respectively to the corporate person during such periods as are set out against their respective names in the said Annexure.

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 person and the workmen / employees which may be set-off against the claim.]

Signature :

ANNEXURE

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

Signature :

ANNEXURE

Particulars of how dues were incurred by the corporate person, including particulars of any dispute as well as the record of pendency of suit or arbitration proceedings.
Particulars of any mutual credit, mutual debts, or other mutual dealings between the corporate person and the workmen / employee which may be set-off against the claim.
Please list out and attach the documents relied on to prove the claim.

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 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

AFFIDAVIT

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

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

_____ day of __________ 20__ and still is, justly and truly indebted to the workmen and employees for a sum of Rs. __________ for _____ [please state the nature and duration of employment].

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]

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

Verified at _______ on this _______ day of _______ 201___

Deponent's signature

e 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 F PROOF OF CLAIM BY ANY OTHER STAKEHOLDER
(Under Regulation 19 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017) [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 voluntary liquidation of [name of

corporate person] under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,

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

Name of 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)

Address and email of the stakeholder for correspondence.

Total amount of claim, including any interest as at liquidation commencement and details of nature of claim

Details of how and when claim arose

Details of any mutual credit, mutual debts, or other mutual dealings between the corporate person and the other stakeholder which may be set-off against the claim

Details of any retention of title in respect of goods or properties to which the claim refers

Details of any assignment or transfer of debt in his favour

e set-off against the claim

Details of any retention of title in respect of goods or properties to which the claim refers

Details of any assignment or transfer of debt in his favour

Details of the bank account to which the other stakeholder’s share of the proceeds of liquidation can be transferred

List out and attach the Documents by reference to which the claim can be substantiated or which can be relied upon in support of the Claim.

Signature of 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:

The above named corporate person 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 co-partner], my co-partners in trade, or, as the case may be,] for a sum of Rs. __________ for _____ [please state consideration].
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.]
The said documents are true, valid and genuine to the best of my knowledge, information and belief.

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

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

Verified at ______ on this ______ day of ______ 201__

Deponent's signature.

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 Deposit of Unclaimed Dividends and/or Undistributed Proceeds
[Under Regulation 39(5) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017]

A. Details of Voluntary Liquidation Process Sl. No . Description Particular s (1) (2) (3) 1 Name of the Corporate Person 2 Identification Number of Corporate Person (CIN/LLPIN) 3 Voluntary Liquidation Commencement Date 4 Date of Deposit into the Corporate Voluntary Liquidation Account 5 Amount deposited into the Corporate Voluntary Liquidation Account (Rs .)

6 Bank Account from which the amount is transferred to Corporate Volunt ary Liquidation Account
a. Account No: b. Name of Bank: c. IFSC: d. MICR: e. Address of Branch of the Bank:

7 Details of the Amount (Rs.) deposited into Corporate Voluntary Liquidati on Account
a. Unclaimed dividends b. Undistributed proceeds c. Income earned till the due date of deposit d. Interest at the rate of twelve per cent on the amount retained beyo nd due date (Please show computation of interest amount)
Total

eeds c. Income earned till the due date of deposit d. Interest at the rate of twelve per cent on the amount retained beyo nd due date (Please show computation of interest amount)
Total

B. Details of Stakeholders entitled to Unclaimed Dividends or Undistributed Proceeds

Sl. No. Name of stakehold er entitle d to recei ve unclai med divid ends or u ndistribut ed procee ds Address, phone n umber a nd email address of the st akehold er Identificati on Number of the stake holder (PA N, CIN, etc. ) (Please att ach Identifi cation proof .) Amount due to th e stakehol der (Rs.) Nature of Amo unt due Applicabl e section of the Inc ome Tax Act, 1961 or any ot her law u nder whic h tax is to be deduct ed Amoun t of tax to be de ducted (Rs.) Reason for unc laimed dividen ds or u ndistri buted p roceeds Rema rks (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1 2 3

C. Details of Deposit made into the Corporate Voluntary Liquidation Account I (Name of Liquidator) have deposited Rs…… (Rupees ….only) into the Corporate Voluntary Liquidation Account on …. vide acknowledgment no.. … dated ……

I (Name of Liquidator) hereby certify that the details provided in this Form are true and correct to the best of my knowledge and belief, and nothing material has been concealed.

(Signature)
Name of the Liquidator Date:………….. IP Registration No:
Place:……………………..

een concealed.

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

FORM-H COMPLIANCE CERTIFICATE [Under Regulation 38(3) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017]

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 Voluntary Liquidation Process of [name of the corporate person].

The details of the Voluntary Liquidation Process are as under: Sl. No. Particulars Description (1) (2) (3) 1 Name of the corporate person

2 CIN/LLPIN of the corporate person

3 NCLT Bench

4 Date of initiation of voluntary liquidation process

5 Date of appointment of Liquidator

6 Liquidator’s Registration No. as IP

7 Whether the Liquidator was replaced during the process (Yes / No)

If yes

Name of previous Liquidator and his registration No.

Date of replacement of previous Liquidator

8 Date of opening of bank account for liquidation (with account details)
9 Date of notice for uncalled capital/unpaid capital contribution

10 Date of realization of uncalled capital/unpaid capital contribution

11 Date of intimation to statutory authority as applicable.

of notice for uncalled capital/unpaid capital contribution

10 Date of realization of uncalled capital/unpaid capital contribution

11 Date of intimation to statutory authority as applicable. a. PF b. ESI c. Income Tax d. Inspector of Factory e. GST/VAT f. RBI

g. Others 12 Amount deposited into Corporate Voluntary Liquidation Account: a. Amount of unclaimed dividends b. Amount of undistributed proceeds c. Income referred to in sub-regulation (2) and (3) of regulation 39 d. Interest referred to in sub-regulation (4) of regulation 39 Total

13 Remuneration of Liquidator (Rs.)

Details of the corporate person: Sl. No. Particulars Description (1) (2) (3) 1 Year of Incorporation

2 Objects in brief

3 Paid up Share Capital / Capital (Amount in Rs.)

4 Assets as on Liquidation Commencement date (Amount in Rs.)

5 Debt payable as on Liquidation Commencement date (Amount in Rs.)

6 Net-worth of the Corporate Person (Amount in Rs.)

7 Reasons for initiating voluntary liquidation, in brief

Details of realisation during Voluntary Liquidation Process: Sl. No. Particulars Amount (Rs) (1) (2) (3) 1 Sale of Assets 2 Refund from Statutory Authorities 3 Cash / Bank balance
Details of realisation during Voluntary Liquidation Process: Sl. No. Particulars Amount (Rs) (1) (2) (3) 1 Sale of Assets 2 Refund from Statutory Authorities 3 Cash / Bank balance

4 Realisation of uncalled/unpaid capital contribution 5 Distribution of unsold asset 6 Any other (Please specify) Total

Details of distribution to stakeholders as per section 52 or 53 of the Code
(Amount in Rs. lakh) Sl. No. Stakeholders* under section 52 and 53 (1) Amount Claimed Amount Admitted Amount Distributed Amount Distributed to the Amount Claimed (%) Remarks (1) (2) (3) (4) (5) (6) (7) 1 Realization of Security Interest [Sec. 52(1)(b)]

2 Liquidation Cost [Sec. 53(1)(a)]

3 Workmen’s Dues [Sec. 53(1)(b)(i)]

4 Debts of Secured Creditors [Sec. 53(1)(b)(ii)]

5 Wages and Unpaid Dues to Employees [Sec. 53(1)(c)]

6 Debts of Unsecured Financial

(b)(i)]

4 Debts of Secured Creditors [Sec. 53(1)(b)(ii)]

5 Wages and Unpaid Dues to Employees [Sec. 53(1)(c)]

6 Debts of Unsecured Financial

Creditors [Sec. 53(1)(d)] 7 Government Dues + Amount Unpaid following Enforcement of Security Interest [Sec.53(1)(e)]

8 Any remaining Debts and Dues [Sec. 53(1)(f)]

9 Preference Shareholders [Sec. 53(1)(g)]

10 Equity Shareholders [Sec.53(1)(h)]

Total

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

The Voluntary Liquidation Process has been conducted as per the stipulated timeline: Sl. No. Section / Regulation Description of Task Norm (Number of Days) Compliance Date Actual Timeline (Number of days) (1) (2) (3) (4) (5) (6) 1 Section 59(3)(a), Regulation 3(1) (a) Declaration from majority of directors / partners regarding solvency of corporate person and it T – 28

eline (Number of days) (1) (2) (3) (4) (5) (6) 1 Section 59(3)(a), Regulation 3(1) (a) Declaration from majority of directors / partners regarding solvency of corporate person and it T – 28

not being liquidated to defraud any person
2 Section 59[(3)(c) and (5)], Regulation 3(1)(c) and 3(3) Passing of resolution / special resolution by members / partners about commencement of voluntary liquidation process and appointment of insolvency professional as liquidator T = 0

3 Proviso to Section 59(3)(c), Regulation 3(1)(c) Approval of creditors representing two-third in value of debt, if the corporate person owes any debt, of the resolution passed under section 59(3)(c) or regulation 3(1)(c)
T + 7

4 Regulation 5(2) Intimation by Insolvency Professional regarding his appointment as Liquidator, to the Board
T + 7

5 Regulation 14 (1) Public Announcement in Form A by the Liquidator T + 5

6 Section 59(4), Reg. 3(2) Notification to Registrar of Companies and Board about the resolution passed under section 59(3)(c) and regulation 3(1)(c) or subsequent approval of creditors thereto, as the case may be, by corporate person T + 7 or T

7 Regulation 14 (2) Submission of claims by stakeholders T + 30

gulation 3(1)(c) or subsequent approval of creditors thereto, as the case may be, by corporate person T + 7 or T

7 Regulation 14 (2) Submission of claims by stakeholders T + 30

8 Regulation 9(1) Submission of preliminary report to the corporate person by the Liquidator T + 45

9 Regulation 29 Verification of claims by the Liquidator T + 60

10 Regulation 29 Intimation about decision of acceptance/ rejection of claim to the stakeholders by the Liquidator T + 67

11 Regulation 30(2) Preparation of list of stakeholders by the Liquidator
T + 45*/75

12 Regulation 35(1) Distribution of the proceeds to stakeholders by the Liquidator Date of realization

13 Regulation 39(2) Deposit of amount of unclaimed dividends and undistributed proceeds in Corporate Voluntary Liquidation Account by the Liquidator Prior to submission of application under sub- section (7) of section 59

14 Regulation 38(2) Submission of Final Report to the Board and Registrar of Companies by the Liquidator T + 90*/270

15 Section 59(7), Regulation 38(3) Submission of Final Report, along with the application for dissolution, to AA T + 90*/270

16 Regulation 37(1) Completion of Voluntary Liquidation Process T + 90*/270

ation 38(3) Submission of Final Report, along with the application for dissolution, to AA T + 90*/270

16 Regulation 37(1) Completion of Voluntary Liquidation Process T + 90*/270

17 Regulation 37(2) Meeting of Contributories and presentation of Annual Status Report T + 365

T=Liquidation Commencement Date *Applicable where approval of creditors was not required under section 59(3)(c) or regulation 3(1)(c)

The following are deviations / non-compliances with the provisions of the Insolvency and Bankruptcy Code, 2016, regulations made, or circulars issued thereunder (If any deviation/ non-compliances were observed, please state the details and reasons for the same): Sl. No. Deviation / Non- compliance observed Section of the Code / Regulation No. / Circular No. Reasons Whether rectified or not (1) (2) (3) (4) (5) 1

The details of application(s) filed / pending in respect of avoidance of transactions. Sl. No. Type of Transaction Date of Filing with Adjudicating Authority Date of Order of the Adjudicating Authority Brief of the Order (1) (2) (3) (4) (5) 1 Preferential transactions under section 43

2 Undervalued transactions under section 45

3 Extortionate credit transactions under section 50

4 Fraudulent transactions under section 66

al transactions under section 43

2 Undervalued transactions under section 45

3 Extortionate credit transactions under section 50

4 Fraudulent transactions under section 66

If the process has taken more than 90 / 270 days, as the case may be, for completion, please state reasons thereof.
All undischarged matters pending, if any, before any Court or Tribunal relating to corporate person have been reported to AA, along with the details of provision made to sufficiently meet the obligations arising from such pending litigations.
The records referred to in regulations 8 and 10 shall be preserved as mandated under regulation 41.
Any other information which the Liquidator may like to submit.
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: ………………….]

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: ………………….]

FORM-I
Withdrawal from Corporate Voluntary Liquidation Account [Under Regulation 39(7) of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017]

Sl. No. Description Particulars (1) (2) (3) 1 Name of the Corporate Person 2 Identification Number of Corporate Person (CIN/LLPIN) 3 Voluntary Liquidation Commencement Date 4 Date of Dissolution Order 5 Date of Deposit into the Corporate Voluntary Liquidation Account 6 Name of the Stakeholder seeking withdrawal 7 Identification Number of the Stakeholder a. PAN b. CIN/LLPIN/DIN
c. Aadhaar No.

8 Address and Email Address of Stakeholder 9 Amount of Claim of the Stakeholder, admitted by the Liquidator 10 Amount of unclaimed dividends / undistributed proceeds deposited by the Liquidator in the Corporate Voluntary Liquidation Account against the stakeholder

11 Amount of unclaimed dividends / undistributed proceeds the Stakeholder seeks to withdraw from the Corporate Voluntary Liquidation Account

12 Bank Account to which the amount is to be transferred from the Corporate Voluntary Liquidation Account, if withdrawal is approved (a) Account No.: (b) Name of Bank: (c) IFSC: (d) MICR: (e) Address of Branch of the Bank:

13 Reasons for not taking dividend or proceeds during the Voluntary Liquidation Process

approved (a) Account No.: (b) Name of Bank: (c) IFSC: (d) MICR: (e) Address of Branch of the Bank:

13 Reasons for not taking dividend or proceeds during the Voluntary Liquidation Process

14 Any legal disability in applying for withdrawal? (Yes / No), If yes, please provide details

DECLARATION I, [Name of stakeholder], currently residing at [insert address], hereby declare and state as follows:

I am entitled to receive a sum of Rs…. (Rupees … only) from the Corporate Voluntary Liquidation Account, as presented above.
In respect of the said sum or any part thereof, neither I nor any person, by my order, to my knowledge or belief, for my use, has received any manner of satisfaction or security whatsoever, save and except the following: ...............
I undertake to refund the entire amount with interest as decided by the Board, in case the Board finds that I am not entitled to this amount.
I authorise the Board to initiate appropriate legal action against me if my claim is found false at any time.
Date: Place: (Signature of the Stakeholder)

VERIFICATION I, [Name] the stakeholder hereinabove, do hereby verify that the contents of this Form are true and correct to my knowledge and belief and no material fact has been concealed therefrom.

ERIFICATION I, [Name] the stakeholder hereinabove, do hereby verify that the contents of this Form are true and correct to my knowledge and belief and no material fact has been concealed therefrom.

Verified at … on this …… day of ………., 20… (Signature of the Stakeholder)

[Note: In the case of a company or limited liability partnership, the declaration and verification shall be made by the director/manager/secretary/ designated partner and in the case of other entities, an officer authorised for the purpose by the entity]

FORM J

INTIMATION FOR TERMINATION OF VOLUNTARY LIQUIDATION PROCEEDINGS [Under Regulation 42 of Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017]

Date: ___________

To The Adjudicating Authority [National Company Law Tribunal, ______ Bench]

In the matter of: [name of the corporate person]

Subject: Intimation for termination of voluntary liquidation proceedings of [name of the

corporate person]

I, [Name of the Insolvency Professional], an insolvency professional enrolled with [name of insolvency professional agency] and registered with the Insolvency and Bankruptcy Board of India having registration number [registration number], am acting as the Liquidator for the voluntary liquidation proceedings of [name of the corporate person].

I hereby submit this form for termination, in accordance with section 59 of the Code and regulation 42 of the Liquidation Process Regulations.
The following documents to the extent applicable, are annexed with the form:

(a) a copy of declaration from majority of directors of company in accordance with clause (a) of sub-section (3) of section 59;

(b) a copy of documents mentioned in clause (b) of sub-section (3) of section 59;

(c) a copy of special resolution of the members of the corporate person in accordance with clause (c) of sub-section (3) of section 59;

(d) a copy of resolution of the creditors of the corporate person in accordance with proviso to clause (c) of sub-section (3) of section 59;

(e) a copy of resolution passed by special majority of partners or contributories in accordance with clause (c) of sub-regulation (1) of regulation 3;

(f) a copy of resolution of the creditors of the corporate person in accordance with proviso to clause (c) of sub-regulation (1) of regulation 3;

(g) proof of notification sent to Board and Registrar of Companies;

lution of the creditors of the corporate person in accordance with proviso to clause (c) of sub-regulation (1) of regulation 3;

(g) proof of notification sent to Board and Registrar of Companies;

(h) a copy of public announcement of the commencement of proceedings;

(i) a copy of preliminary report, if any;

(j) particulars under regulation 12;

(k) a copy of list of stakeholders in accordance with regulation 30;

(l) details of avoidance transaction, fraudulent or wrongful trading, if any;

(m) particulars of sale and realization and distribution thereto, including the following:

(i) the realized value;
(ii) cost of realization, if any;
(iii) the manner and mode of sale; (iv) the person to whom the sale is made; and
(v) any other relevant details of the sale.

(n) audited accounts of the liquidation, showing receipts and payments pertaining to liquidation since the liquidation commencement date;

(o) a statement demonstrating that-
(i) the assets of the corporate person that have been disposed of during the process;

(ii) the debt of the corporate person has been discharged during the process;

(iii) details of any pending suits or proceedings and status thereto.

(p) a copy of resolution or approval under clause (a) and (b) of sub-section (5A) of section 59, as the case may be; and

(q) a copy of report under Regulation 42(2).

and status thereto.

(p) a copy of resolution or approval under clause (a) and (b) of sub-section (5A) of section 59, as the case may be; and

(q) a copy of report under Regulation 42(2).

I hereby declare that -

(a) due process for termination of voluntary liquidation proceedings has been followed; and

(b) the termination of voluntary liquidation proceedings is not initiated to defraud any person and the corporate person is solvent.

Signature of the Insolvency Professional
Registration Number of the Insolvency Professional
Registered Address of the Insolvency Professional
For (Name of the Corporate Person)
(Date and Place)

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