As a liquidator of a Corporate Debtor, how will you gather information for the purpose of admission & proof of claims and identification of the liquidation estate assets.
CS Professional · Corporate Restructuring, Insolvency, Liquidation & Winding-up · PYQS · December 2021
As a liquidator of a Corporate Debtor, how will you gather information for the purpose of admission & proof of claims and identification of the liquidation estate assets.
Answer & Explanation:
Section 37(1) of the Insolvency and Bankruptcy Code, 2016 provides that notwithstanding anything contained in any other law for the time being in force, the liquidator shall have the power to access any information systems for the purpose of admission and proof of claims and identification of the liquidation estate assets relating to the corporate debtor from the following sources: an information utility; credit information systems regulated under any law for the time being in force; any agency of the Central, State or Local Government including any registration authorities; information systems for financial and non-financial liabilities regulated under any law for the time being in force; information systems for securities and assets posted as security interest regulated under any law for the time being in force; any database maintained by the Board; and any other source as may be specified by the Board.
Topics: Insolvency and Bankruptcy Code, 2016
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