Start learning 50% faster. Sign in now
Section 36-Liquidation estate (4) The following shall not be included in the liquidation estate assets and shall not be used for recovery in the liquidation: — (a) assets owned by a third party which are in possession of the corporate debtor, including— (i) assets held in trust for any third party; (ii) bailment contracts; (iii) all sums due to any workman or employee from the provident fund, the pension fund and the gratuity fund; (iv) other contractual arrangements which do not stipulate transfer of title but only use of the assets; and (v) such other assets as may be notified by the Central Government in consultation with any financial sector regulator; (b) assets in security collateral held by financial services providers and are subject to netting and set-off in multi-lateral trading or clearing transactions; (c) personal assets of any shareholder or partner of a corporate debtor as the case may be provided such assets are not held on account of avoidance transactions that may be avoided under this Chapter; (d) assets of any Indian or foreign subsidiary of the corporate debtor; or (e) any other assets as may be specified by the Board, including assets which could be subject to set-off on account of mutual dealings between the corporate debtor and any creditor.
The average salary of Anil for the January to October is Rs.68000. He got Rs. 60000 in January and Rs.75000 in Nov. The average salary for the months o...
The combined average weight of 8 copies and 5 books is 150 grams. If the average weight of the copies is 180 grams, find the average weight of the books.
The average of twelve numbers is 45.5. The average of the first four numbers is 41.5 and that of the next five numbers is 48. The 10th number...
Average weight of a team of 8 persons is 50 kg. When one more person joins the team, the average weight of the team increases by 7 kg. Find the weight o...
The average weight of five friends A, B, C, D and E is (x+8) years while the average weight of C and E is (x-8) kg. If the weight of another person F is...
The average weight of 16 people in a group is 75 kg. If the heaviest person who weighs 95 kg is replaced by a new person, and the average weight of the ...
The average height of the boys in a class is 160 cm, while the average height of the girls is 155 cm. The overall average height of all students in the ...
The average of n numbers is 66. If each of 54% of the numbers is increased by 13 and each of the remaining numbers is decreased by 12, then the n...
The average of 9 numbers is 100. The average of the first 4 numbers is 65 and the average of the last 4 numbers is 40. What is the 5th number?
A group of students consists of 25 boys and the rest are girls. The average marks scored by boys is 72, and the average marks scored by girls is 84. If ...