Liquidation Process Regulation 44A of IBBI (Liquidation Process) Regulations, 2016 – Treatment of avoidance of transaction

The Insolvency and Bankruptcy Code, 2016 IBBI (Liquidation Process) Regulations, 2016 Chapter-VII Proceeds of Liquidation and Distribution of […]

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The Insolvency and Bankruptcy Code, 2016

IBBI (Liquidation Process) Regulations, 2016

Chapter-VII Proceeds of Liquidation and Distribution of Proceeds

Regulation 44A: Treatment of avoidance of transaction.

1[44A. The liquidator shall, on the advice of the consultation committee, provide in the application along with the final report filed under regulation 45 for the manner in which proceedings in respect of avoidance transactions, if any, under Chapter III or fraudulent or wrongful trading under Chapter VI of Part II of the Code, will be pursued after the dissolution or closure of liquidation process and the manner in which the proceeds, if any, from such proceedings shall be distributed.]


References

1. Inserted by IBBI (Liquidation Process) (Second Amendment) Regulations, 2022 vide Notification No. IBBI/2022-23/GN/REG094 dated 16th September, 2022, w.e.f. 16.09.2022.

 



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