πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      Which is correct statement with respect to Liquidation

      Estate?
      A Liquidator forms the liquidation estate Correct Answer Incorrect Answer
      B Liquidator holds the liquidation estate as a fiduciary for the benefit of all the creditors Correct Answer Incorrect Answer
      C Liquidation estate consists of the assets owned by a third party which are in possession of the corporate debtor Correct Answer Incorrect Answer
      D All the above Correct Answer Incorrect Answer
      E Both (a) & (b) Correct Answer Incorrect Answer

      Solution

      IBC, Section 36-Liquidation estate- (1) For the purposes of liquidation, the liquidator shall form an estate of the assets mentioned in sub-section (3), which will be called the liquidation estate in relation to the corporate debtor. (2) The liquidator shall hold the liquidation estate as a fiduciary for the benefit of all the creditors.

      Practice Next
      ask-question