Corporate debtor dissolution follows complete liquidation and distribution of assets under section 54 insolvency requirements.

Complete liquidation and distribution of available assets satisfied the statutory requirements for dissolution under section 54 of the Insolvency and Bankruptcy Code, 2016. The liquidator's final report and Form-H compliance certificate showed that the corporate debtor's assets had been fully liquidated, the remaining bank balance had been distributed according to the waterfall mechanism, and no further recoverable assets remained for administration. On that basis, the statutory condition for dissolution was met and dissolution of the corporate debtor was ordered.

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Issues: Whether the corporate debtor, having undergone complete liquidation and distribution of available assets, was liable to be dissolved under section 54 of the Insolvency and Bankruptcy Code, 2016.

Analysis: The application was supported by the liquidator's final report and Form-H compliance certificate. The record showed that the assets had been completely liquidated, the available bank balance had been distributed in accordance with the waterfall mechanism, and no further recoverable assets remained to be administered. In these circumstances, the statutory condition for invoking section 54 stood satisfied.

Conclusion: Dissolution of the corporate debtor was ordered.

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