Preparation of Liquidators Final

Statement of Account
PROF. VAISHALI R. GANGURDE
K.V. N. NAIK ARTS & COMMERCE COLLEGE
DINDORI.
 Process of Liquidation
XYZ Ltd
BOD

Statement of
NCLT Affairs
Liquidator
The Company
Contributory
Registrar
Realise Assets
Person
Authorised by Pay Liabilities
Central Govt.
Central Govt. Liquidators Final
or State Govt. Statement of
Account
Liquidator’s FinaL statement oF accounts
Receipt Amount Payment Amount
By Legal Charges
To Cash in Hand By Liquidation expenses
To Cash at Bank By Liquidators
To Assets Realised Remuneration
Mrketable Securities By Preferential Creditors
Bills Receivable By Debenture Holders (
Trade debtors having the floating charge on the
asset of the co. )
Stock in Trade
By Unsecured Creditors
Freehold Property
By Preference Shareholders
Plant & Machinery
By Equity Shareholders
Furniture & Feetings
To Surplus from Securities
To Amount receivable
from Calls on
Contributories
 Relevant Points in Connection with
Liquidator’s Final Statement of Account
1. Liquidator’s remuneration

a. A fixed Amount.

b. By way of percentage on the amount realised

from the disposal of the assets.

c. By way of Percentage of the amount paid to

unsecured creditors.

d. By way of percentage on the amount paid to

2. Order of Payment
i. Legal Charges

ii. Liquidator’s remuneration

iii. Winding up Expenses

iv. Preferential Creditors

v. Debentureholders

vi. Unsecured Creditors

vii. Preference Shareholders

viii. Equity Shareholders

Cont..

3. Fully Paid Shares

4. Partly paid up Shares

5. Interest on Debentures

6. Payment of Preferential Dividend in arrears

7. Liability of Fully Secured Creditors

8. Liability of Partly Secured Creditors

9. Preferential Creditors