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[Cites 0, Cited by 0] [Section 4] [Entire Act]

Union of India - Subsection

Section 4(2) in Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

(2)In cases other than those covered under sub-regulation (1), the liquidator shall be entitled to a fee-
(a)at the same rate as the resolution professional was entitled to during the corporate insolvency resolution process, for the period of compromise or arrangement under section 230 of the Companies Act, 2013 (18 of 2013); and
(b)as a percentage of the amount realised net of other liquidation costs, and of the amount distributed, for the balance period of liquidation, as under:
Amount of Realisation/Distribution (In rupees) Percentage of fee on the amount realized/distributed
in the first six months in the next six months Thereafter
Amount of Realisation (exclusive ofliquidation costs)
On the first 1 crore 5.00 3.75 1.88
On the next 9 crore 3.75 2.80 1.41
On the next 40 crore 2.50 1.88 0.94
On the next 50 crore 1.25 0.94 0.51
On further sums realized 0.25 0.19 0.10
Amount Distributed to Stakeholders
On the first 1 crore 2.50 1.88 0.94
On the next 9 crore 1.88 1.40 0.71
On the next 40 crore 1.25 0.94 0.47
On the next 50 crore 0.63 0.48 0.25
On further sums distributed 0.13 0.10 0.05