Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 Chapter VII PROCEEDS OF LIQUIDATION AND DISTRIBUTION OF PROCEEDS
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Suspension of liquidation: liquidator may seek authority to halt liquidation on fraud or insolvency grounds. If the liquidator believes the liquidation is being used to defraud a person or that the corporate debtor cannot pay its debts in full from liquidation proceeds, the liquidator must apply to the Adjudicating Authority to suspend the process of liquidation and request such orders as the Authority deems fit.
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.
Suspension of liquidation: liquidator may seek authority to halt liquidation on fraud or insolvency grounds.
If the liquidator believes the liquidation is being used to defraud a person or that the corporate debtor cannot pay its debts in full from liquidation proceeds, the liquidator must apply to the Adjudicating Authority to suspend the process of liquidation and request such orders as the Authority deems fit.
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