Distribution

(1) Subject to the provisions of section 53, the liquidator shall not commence distribution before the list of stakeholders 105[***] has been filed with the Adjudicating Authority. (2) The liquidator shall distribute the proceeds from realization within 106[fifteen days] from the receipt of the amount to the stakeholders. 103 Omitted by Notification No IBBI/2026-27/GN/REG151, dated 01st June, 2026 (w.e.f. 02-06-2026). Prior to omission, stood as, “[, business]”. 104 Substituted by Notification No. IBBI/2026-27/GN/REG151, dated 01st June, 2026 (w.e.f. 02-06-2026). Before substitution, the words stood as under: “Adjudicating Authority”. 105 Omitted by Notification No IBBI/2026-27/GN/REG151, dated 01st June, 2026 (w.e.f. 02-06-2026). Prior to omission, stood as under:- “and the asset memorandum”. 106 Substituted by Notification No. IBBI/2026-27/GN/REG151, dated 01st June, 2026 (w.e.f. 02-06-2026). Before substitution, the words stood as under: -

(3) The insolvency resolution process costs, if any, and the liquidation costs shall be deducted before such distribution is made.