Regulation 35 - Distribution - Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

Distribution 35. (1) The liquidator shall distribute the proceeds from realization within 1 [ thirty days ] from the receipt of the amount to the stakeholders. (2) The liquidation costs shall be deducted before such distribution is made. (3) The liquidator may, with the approval of the corporate person, distribute amongst the stakeholders, an asset that cannot be readily or advantageously sold due to its peculiar nature or other special circumstances. ************ NOTES:- 1. Substituted vide F. No. IBBI/2022-23/GN/REG.081 dated 05-04-2022 before it was read as, six months