Model time-line for liquidation process

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..... Norm Latest Timeline (Days) (1) (2) (3) (4) (5) 1 Section 33 and 34 Commencement of liquidation and appointment of liquidator LCD 0 = T 2 Section 33 (1) (b) (ii) / Reg. 12 (1, 2, 3) Public announcement in Form B Within 5 days of appointment of liquidator. T + 5 3 Reg. 35 (2) Appointment of registered valuers Within 7 days of LCD T + 7 6 [3A Reg. 31A .....

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..... t of such decision T + 81 11 Reg. 13 Preliminary report to the AA Within 75 days of LCD T + 75 12 Reg. 34 Asset memorandum Within 7 [ 30/75 ] days of LCD T + 8 [ 30/75 ] 13 Reg. 15 (1), (2), (3), (4) and (5), and 36 Submission of progress reports to AA; Asset Sale report to be enclosed with every Progress Report, if sales are made First progress report Q1 + 15 Q-2 Q2 + 15 Q-3 Q3 + .....

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..... osit the amount of unclaimed dividends and undistributed proceeds Before submission of application under sub-regulation (3) of regulation 45 ] 21 Sch-1 Sl. No 12 Time period to H1 bidder to provide balance sale consideration Within 90 days of the date of invitation to provide the balance amount. [AA: Adjudicating Authority, LCD: Liquidation Commencement Date, SCC: Stakeholders Consultation Committee] ] ********* Notes 1. Inserted vide NOTIFICATION No. IBBI/2019-20/GN/REG047 dated 25-07-2019 2. Substituted vide Notification No. IBBI/2019-20/GN/REG053 dated 06-01-2020 before it was read as .....

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