The partners of Synergy Insolvency are being appointed as liquidator during Liquidation Process and Voluntary Liquidation Process and would also be appointed as Bankruptcy Trustee after the provisions of Individual bankruptcy are notified. Following are the key responsibilities: –
- To communicate with all stakeholders such as Stakeholders Consultative Committee, other claimants, promoters and directors, Key Managerial Personnel, statutory authorities, auditors, employees of Corporate Debtor, etc for the purpose of seeking information, informing them about the commencement of Liquidation Process.
- To appoint professionals such as Registered Valuers for valuation of the assets of the Corporate Debtor; auditors for receipt and payment account, brokers for the sale of assets and even for selling the Corporate Debtor as going concern
- To maintain a panel of professionals after verification of key documents, antecedents and performance history for the purpose of their appointment for Corporate Debtors. Synergy Insolvency maintains a panel of advocates, auditors, registered valuers, media agencies, security service providers, etc. to be used for the Liquidation Process.
- To interact and coordinate with different professionals appointed for the process and to provide the requisite information for completion of the job and to obtain their report.
- To convene Stakeholders Consultation Meetings and to prepare all notices, agenda, minutes, etc and to act as a bridge between stakeholders and the Insolvency Professional.
- To prepare and compile Asset Memorandum, Preliminary Reports, Progress Reports and co-ordinate for all the information required.
- To conduct the entire process e-auction process for the sale of assets, preparation of e-auction document, keep the virtual data room, verify the eligibility of bidder under section 29A and other documents for receipt and examination of bids. To issue a letter of intent and sale certificate and distribute the funds to stakeholders.