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of <h1>Corporate Entity Must Cease Business Operations During Liquidation, Continues to Exist Until Formal Dissolution per Section 59(8)</h1> Upon commencement of liquidation under the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, the corporate entity must cease its business operations, except as necessary for the beneficial winding up of its affairs. Despite ceasing operations, the corporate entity will continue to exist legally until it is formally dissolved in accordance with section 59(8) of the regulations.
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