List of stakeholders in voluntary liquidation
Who can be stakeholders of voluntary liquidation
The stakeholders can be the entire list specified under Section 53 of the Insolvency and Bankruptcy Code, 2016. They are ranked by the order of distribution:
Secured creditors who have relinquished their security (they are mostly financial creditors) and Workmen for unpaid wages payable for 24 months preceding the liquidation commencement date to rank equally between themselves;
Employees for salaries payable for 12 months preceding the liquidation commencement date
Unsecured financial creditors.
Amount due to the government payable for 2 years preceding the liquidation commencement date and debt owed to secured creditor for any amount unpaid following the enforcement of security interest, to rank equally between themselves;
Any remaining debts and dues (meaning all other creditors which include unsecured operational creditors)
Preference shareholders
Equity shareholders
Who can make a claim: All of the above, including the preference and equity shareholders can make a claim before the liquidator.
Preparation of list of stakeholders:
The liquidator shall prepare list of stakeholders within 45 days from the last date for receipt of claims. In case of liquidation, the list of stakeholders has to be filed with the Adjudicating Authority within the due date. In case of voluntary liquidation, no such thing is specified.
Information to be contained in the list of stakeholders:
Heading should contain the name of the company for which the list of stakeholders is prepared along with the date of preparation of the list of stakeholders.
Name of the stakeholder
Address of the stakeholder
Nature of claim (whether operational creditor, financial creditor, employee etc)
Proof of claim (invoices, loan agreements etc)
Whether proof is admitted by the liquidator wholly or in part or proof is wholly rejected. In case of rejection, reasons thereof.
Details of security (whether secured or unsecured and if secured, the details of security held by the stakeholder)
Amount claimed
Amount admitted
To whom list of stakeholders to be submitted:
It is to be submitted to the Company management.
It is also to be submitted to the Insolvency and Bankruptcy Board of India at
Who can verify the list of stakeholders:
Persons who submitted proofs of claim (means indirectly that the persons whose claim is admitted by the liquidator either wholly or in part basing on the proofs admitted)
Members, partners, directors and guarantors of corporate person.