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Liquidators are advised to deposit unclaimed proceeds of liquidation process in accordance with regulation 46: IBBI

January 10, 2020
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The amended regulation 46 of the regulations provides that the IBBI need to operate and maintain an account to be called the Corporate Liquidation Account in the public account of India. It further provides that until the Corporate Liquidation Account is operated, the liquidators are advised to deposit unclaimed proceeds of liquidation process in accordance with regulation 46 of the Code.

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