Liquidation

SIPL has expertise in conducting liquidations of insolvent companies and implements strategies to recover funds from sale of tangible and intangible assets expeditiously. The team identifies assets belonging to the corporate entities and the guarantors and implements realization strategies, initiate recovery measures and allocates funds for distribution amongst creditors and other stakeholders.
Under the I&B Code,2016, the Key actionable involve-

1. Invitation of Claims from Creditors at large through Public Announcement & Validation of respective Claims
2. Constitution of Stakeholders Consultancy Committee
3. Appointment of professionals such as Registered Valuers; auditors for receipt and payment account and other professionals as may be required to conduct the liquidation process for the Corporate Debtor
4. To prepare and compile Asset Memorandum, Preliminary Reports, Progress Reports and co-ordinate for all the information required.
5. To conduct the entire e-auction process 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. To issue a letter of intent and sale certificate and distribute the funds to stakeholders.