Ankur Constructions Limited, is a Public Limited Company incorporated under the provisions of Companies Act, 2013 on 30th June, 2017. The Company had a 100% subsidiary in the name of ABC International Private Limited. It

Ankur Constructions Limited, is a Public Limited Company incorporated under the provisions of Companies Act, 2013 on 30th June, 2017. The Company had a 100% subsidiary in the name of ABC International Private Limited. It was engaged in the business of Projects relating to the cleaning of the Ganga River and the surrounding areas under the "Namami Gange Programme", a flagship programme approved by the Union Government of India to achieve the objective of effective abatement of pollution, conservation and rejuvenation of National River Ganga. The ABC International Private Limited could procure some orders under the "Namami Gange Programme" and commenced its commercial operations and continued working for four years and completed all its projects. After 4 years of its existence, the Board of Directors waited for 2 more years and could not expand its operations and thought of merging the company with the other operational company(s). The proposal of merger could not hold good and later on the management decided to wind up the company under the voluntary winding up provisions of the Insolvency and Bankruptcy Code, 2016. The Ministry of Urban Housing and Urban affairs also accorded its approval to close the company. The Board of Directors on their next Board Meeting filed a declaration of solvency stating that the company is solvent and no litigation is pending under any court and need to be closed under the voluntary winding up process of the company. The company is not having any employee on the rolls of the company. The Board of Directors received a proposal of appointment of Geeta as a proposed Liquidator of the Company who is an insolvency Professional and cleared the necessary examination and training. After obtaining her consent and valid Authorisation for Assignment, the management recommended her name to the shareholders of the Company. The Management also appointed Registered Valuers to value the assets of the company ven though there were not any major assets in the company. The management decided to take the agenda of initiation of Voluntary Liquidation and appointment of Voluntary Liquidator in the Extraordinary General Meeting of the company. In the Extraordinary General Meeting held on 20th June, 2023, the liquidator was appointed and she intimated to various authorities concerned including the Comptroller & Auditor General of India about the initiation of voluntary winding up of the company and filing of necessary claims. The Liquidator received the claims from various creditors and after verification found that the both the operational creditors and financial creditors have filed their claims by post only. The Liquidator took necessary steps to realise the assets of the company as per the laid down procedures, payoff all the liabilities and distributed the proceeds among the various stakeholders of the Company after deducting the cost of Liquidation. In view of the above facts, answer the following with reasons: What is the role of the liquidator if she finds that the corporate person will not be able to pay its debts in full from the proceeds of assets to be sold in the liquidation ?