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CS Professional · Insolvency and Bankruptcy - Law and Practice · Voluntary Liquidation of Companies

Liquidator CS Meera Iyer is appointed for Bharat Components Ltd, and the liquidation commencement date is 1 April. She was appointed on 4 April. By which date must she make the public announcement, and by which date must claims be received?

She must announce by 9 April, five days after her appointment on 4 April, and the last date for claims is 1 May. Regulation 14 sets the claims deadline at thirty days from the liquidation commencement date, not from appointment or announcement.

  1. AAnnouncement by 9 April; last date for claims 1 MayCorrect
  2. BAnnouncement by 9 April; last date for claims 3 May
  3. CAnnouncement by 11 April; last date for claims 1 May
  4. DAnnouncement by 4 May; last date for claims 4 May

Explanation

Regulation 14 requires the announcement within five days from appointment, so by 9 April. The last date for claims is thirty days from the liquidation commencement date: 1 April plus 30 days is 1 May. Counting the 30 days from the appointment date would wrongly give 4 May.

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