Liquidation & Asset Disposal Team - Elixir Strategic Management
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Liquidation & Asset Disposal Team

Services

The partners of ESM are regularly appointed as Liquidators in both Liquidation Processes and Voluntary Liquidation Processes, and are expected to be appointed as Bankruptcy Trustees upon notification of the relevant provisions relating to individual bankruptcy under the Insolvency and Bankruptcy Code. ESM has established a dedicated division specifically trained to manage Liquidation Processes efficiently and in compliance with applicable laws. The key responsibilities assigned to the Liquidation Process team include:

  • Stakeholder Communication: To establish and maintain effective communication with all relevant stakeholders including the Stakeholders’ Consultation Committee, claimants, promoters and directors, Key Managerial Personnel (KMPs), statutory authorities, auditors, and employees of the Corporate Debtor. This includes disseminating information regarding the initiation of the Liquidation Process and obtaining necessary data and clarifications.
  • Appointment of Professionals: To engage professionals such as Registered Valuers for the valuation of assets, auditors for the preparation of receipts and payments accounts, brokers for asset sales, and, where appropriate, for facilitating the sale of the Corporate Debtor as a going concern.
  • Maintenance of Professional Panels: To maintain a vetted panel of professionals—including advocates, auditors, registered valuers, media agencies, and security service providers—based on a thorough assessment of their qualifications, background, and track record, for deployment during the Liquidation Process.
  • Coordination with Appointed Experts: To coordinate with and provide necessary documentation and support to the professionals and experts engaged in the process, and to ensure timely receipt of their reports and deliverables.
  • Stakeholders’ Consultation Committee Meetings: To convene and manage meetings of the Stakeholders’ Consultation Committee, including the preparation and circulation of meeting notices, agendas, minutes, and related documentation, and to act as a liaison between the stakeholders and the appointed Insolvency Professional.
  • Preparation of Statutory Reports: To compile and prepare statutory reports including the Asset Memorandum, Preliminary Report, Progress Reports, and to gather and collate all relevant information required for such reports.
  • Execution of E-Auction Process: To conduct the complete e-auction process for the sale of assets, including preparation of e-auction documents, management of virtual data rooms, verification of bidder eligibility under Section 29A of the Code, and examination of bid submissions. Upon successful bidding, to issue Letters of Intent and Sale Certificates, and to oversee the distribution of sale proceeds to stakeholders in accordance with the priority prescribed under the Code.

The above services shall also be extended in the event of Bankruptcy Proceedings involving individuals, proprietorship entities, and partnership firms.