IBBI Clarifies With Regard to the Term “Amount Realised” for the Purpose of Calculation of Liquidator’s Fees
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- Last Updated on 29 September, 2023
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Circular No. IBBI/LIQ/61/2023, Dated: 28.09.2023
The IBBI has issued a clarification w.r.t. Liquidators’ fee under Regulation 4(2)(b) of the IBBI (Liquidation Process) Regulations, 2016. It has been clarified that “Amount realised” shall refer to the amount realised from assets other than liquid assets such as cash & bank balance including term deposit, mutual fund, quoted share available at start of the process. Further, the term “other liquidation cost” shall denote liquidation costs paid in priority u/s 53, excluding liquidator’s fee.
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