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        IBC

        Regulation 4 - Effect of liquidation

        Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
        Chapter II
        COMMENCEMENT OF LIQUIDATION

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        Liquidation effect: corporate person ceases business except for winding up and remains legally existent until statutory dissolution. From the liquidation commencement date a corporate person shall cease to carry on its business except insofar as required for the beneficial winding up of its business, and it continues to exist until it is dissolved under section 59(8).
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Liquidation effect: corporate person ceases business except for winding up and remains legally existent until statutory dissolution.

                            From the liquidation commencement date a corporate person shall cease to carry on its business except insofar as required for the beneficial winding up of its business, and it continues to exist until it is dissolved under section 59(8).


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