IBBI Prescribes Format for Releasing Funds from Corporate Voluntary Liquidation Account by Liquidator
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- By Chetan Kulasri
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- Last Updated on 16 February, 2024
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Circular No. IBBI/LIQ/68/2024, Dated 13.02.2024
As per the IBBI (Voluntary Liquidation Process) Regulations, 2017, liquidators are mandated to deposit unclaimed/undistributed amounts into the Corporate Voluntary Liquidation Account and inform the IBBI in Form-G containing the details regarding the stakeholders entitled to such deposited amount.
To facilitate the request received, the liquidator shall now apply to the Board in the format prescribed, for the release of the amount for onward distribution to the stakeholders.
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