IBBI VLP Regulations 2017

Regulations 31. Manner of sale. — The liquidator may value and sell the assets of the corporate person in the manner and mode approved by the corporate person in compliance…

Regulations 30. List of stakeholders. — (1) The liquidator shall prepare a list of stakeholders on the basis of proofs of claims submitted and accepted under these Regulations, with- (a)…

Regulations 29. Verification of claims— (1) The liquidator shall verify the claims submitted within thirty days from the last date for receipt of claims and may either admit or reject…

Regulations 28. Mutual credits and set-off. — Where there are mutual dealings between the corporate person and another party, the sums due from one party shall be set off against…

Regulations 27. Debt payable at future time. — (1) A person may prove for a claim whose payment was not yet due on the liquidation commencement date and is entitled…

Regulations 26. Periodical payments. — In the case of rent, interest and such other payments of a periodical nature, a person may claim only for any amounts due and unpaid…

Regulations 25. Debt in foreign currency. — The claims denominated in foreign currency shall be valued in Indian currency at the official exchange rate as on the liquidation commencement date.…

Regulations 24. Determination of amount of claim. — Where the amount claimed by a claimant is not precise due to any contingency or any other reason, the liquidator shall make…

Regulations 23. Cost of proof. — (1) A claimant shall bear the cost of proving its claim. (2) Costs incurred by the liquidator for verification and determination of a claim…

Regulations 22. Substantiation of claims. — The liquidator may call for such other evidence or clarification as he deems fit from a claimant for substantiating the whole or part of…