A liquidator is entitled to receive remuneration at 2% on the assets realized, 3% on the amount distributed to preferential creditors and 3% on the payment made to unsecured creditors. The assets were realised for ₹50,00

Calculation of Total Remuneration Payable to Liquidator Particulars Amount (₹) 2% on assets realized (2% on 50,00,000) 100000 3% on amount distributed to preferential creditors (3% on 150000) 4500 3% on amount paid to unsecured creditors (w. no. 1) 78510 Total 183010 Working Note: 1 Amount Released from Assets ₹50,00,000 Less: Payments: Paid to Secured Creditors ₹20,00,000 Paid to Preferential Creditors ₹1,50,000 Liquidation Expenses ₹50,000 2% commission on assets realized to liquidator ₹1,00,000 3% Commission to liquidator ₹4,500 Balance for Unsecured Creditor = ₹50,00,000 - (₹20,00,000 + ₹1,50,000 + ₹50,000 + ₹1,00,000 + ₹4,500) = ₹26,95,500 Commission Payable = (₹26,95,500 * 3) / (100 + 3) = ₹78,510