No NCLT nod needed for liquidators to modify stakeholder list in cos' IBC
This story was originally published at 19:34 IST on 23 September 2026
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NEW DELHI – Liquidators of debt-ridden companies may not need to take the National Company Law Tribunal's approval to modify an entry in the list of stakeholders such as lenders. The liquidator may now modify an entry in the list of stakeholders when it comes across additional information warranting such modification, and will intimate the tribunal regarding such modification, within 30 days of the modification. The Insolvency and Bankruptcy Board of India amended the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, to give this leeway to liquidators.
When a company is admitted for liquidation, its liquidator prepares a list of stakeholders, category-wise, on the basis of proofs of claims submitted and accepted. The liquidator has to state the amounts of claim admitted, if applicable and the extent to which the debts or dues are secured or unsecured. In addition, the liquidator has to give the details of the stakeholders, and the proofs admitted or rejected in part, and the proofs wholly rejected. The liquidator has to file the list of stakeholders with the tribunal within 30 days from the last date for receipt of the claims.
The list of stakeholders, as modified from time, is available for inspection by the persons who submitted their claims. The same is also made available for inspection of members, partners, directors and guarantors of the corporate debtor. This list of stakeholders is displayed on the website of the corporate debtor. This process is done to improve transparency and enable stakeholders to ascertain the details of their claims at a central platform. The stakeholders include secured financial creditors, unsecured financial creditors, operational creditors such as workmen, employees and government dues. It also includes other entities apart from financial creditors and operational creditors. End
Reported by Surya Tripathi
Edited by Avishek Dutta
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