Section 10(3) in Insolvency And Bankruptcy Board Of India (Bankruptcy Process For Personal Guarantors To Corporate Debtors) Regulations, 2019
(3)The progress report shall include-(a)appointment, tenure of appointment and cessation of appointment of professionals;(b)a statement indicating the progress in the bankruptcy process containing-(i)distribution of dividend and interim dividend;(ii)any material change in the expected realisation for any asset and basis for such change;(iii)any material change in the value of assets or liabilities of the bankrupt and basis for such change;(iv)any material change on estimated cost of bankruptcy process and basis for such change;(v)distribution of unsold property made to the creditors;(vi)details of any property that remains to be realised;(vii)list of creditors; and(viii)any other relevant information.(c)an asset sale report with the following details of the assets realised-(i)realised value;(ii)cost of realisation;(iii)manner and mode of realisation, including details as per Schedule II;(iv)reasons for any reduction in the realisable value compared to the value mentioned in the preliminary report; and(v)details of the persons in favour of whom the property has been realised.(d)details of fee and remuneration due to and received by the bankruptcy trustee along with a description of the activities carried out by him;(e)details of the fee and remuneration paid to professionals appointed by the bankruptcy trustee along with a description of activities carried out by them;(f)other expenses incurred by the bankruptcy trustee in relation to the bankruptcy process;(g)status of any material litigation by or against the bankrupt;(h)filing of and developments in relation to disclaimer of onerous properties or leasehold interests under sections 160 and 162, or transactions under sections 164, 165 and 167.(i)accounts maintained by the bankruptcy trustee showing the receipts and payments made during the period of the report, as well as cumulative receipts and payments made since the bankruptcy commencement date; and(j)any other relevant aspect of the bankruptcy process.
