Voluntary liquidation termination requires stakeholder protection, due process, and solvency safeguards before proceedings can end. Termination of voluntary liquidation proceedings must be supported by a resolution stating the rationale, treatment of liquidation costs, and that stakeholders will not be prejudiced. The liquidator must notify the Adjudicating Authority with a prescribed report and statement that due process has been followed, the termination is not intended to defraud any person, and the corporate person is solvent. If the statutory conditions are met, the liquidator must also intimate the Board and the Registrar of Companies within seven days; once terminated, the liquidator's appointment ends and no further action may be taken under the regulations.