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Liquidation Process

  • Communication with all stakeholders such as Stakeholders Consultation Committee, other claimants, promoters and directors, Key Managerial Personnel, statutory authorities, auditors, employees of Corporate Debtor, etc for the purpose of seeking information, informing them about the commencement of Liquidation Process.
  • To appoint professionals such as Registered Valuers for valuation of the assets of the Corporate Debtor; auditors for receipt and payment account, brokers for the sale of assets and even for selling the Corporate Debtor as going concern.
  • Maintaining a panel of professionals after verification of key documents, antecedents and performance history for the purpose of their appointment for Corporate Debtors. Libord IRP Advisors maintains a panel of advocates, auditors, registered valuers, media agencies, security service providers, etc. to be used for the Liquidation Process.
  • Convening the Stakeholders Consultation Committee Meetings and preparing all related documents such as Notices, Agenda, Minutes, etc. and to act as a bridge between stakeholders and the Insolvency Professional.
  • Co-ordinating and interacting with Legal Counsels appointed for handling litigations initiated by Liquidator or any other person.
  • Preparing Asset Memorandum, Preliminary Reports, Progress Reports and co-ordination for all the information required.
  • Conducting the entire process e-auction for the sale of assets, preparation of e-auction document, keep the virtual data room, verify the eligibility of bidder under section 29A and other documents for receipt and examination of bids and issuing the letter of intent and sale certificate and distribute the funds to stakeholders.

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