IBBI specifies the proforma for reporting liquidator’s decision differing from SCC’s advice
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- By Chetan Kulasri
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- Last Updated on 23 December, 2022
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Circular No. IBBI/LIQ/57/2022, Dated 21.12.2022
Reg 31A of the IBBI (Liquidation Process) Regulations, 2016 provides that where the liquidator takes a decision different from the advice given by the Stakeholder’s Consultation Committee (SCC), he shall record the reasons for the same in writing and submit the records, to the Adjudicating Authority and to the Board. Now, the IBBI has specified the proforma for reporting.
The Board has made available an electronic platform at www.ibbi.gov.in, for reporting the liquidator’s decisions different from the advice given by the SCC. The proforma for the reporting has been given as an annexure to the circular.
Further, the insolvency professionals are directed to make use of the notified proforma for reporting to the Board and Adjudicating Authority, under proviso to sub-regulation (10) of regulation 31A.
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