TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of IBBI amended the Voluntary Liquidation Process Regulations introducing significant procedural changes. The amendment establishes a Corporate Voluntary Liquidation Account with a scheduled bank and implements a new structured filing system requiring liquidators to submit four distinct forms (VL1-VL4) with specific timelines. Liquidators must ensure accurate and complete filing, with penalties of Rs.500 per form per month for delays. The Board may refuse Authorization for Assignment for non-compliance, inaccurate filing, or delays. The amendment also revises Form G's table B format for tracking unclaimed dividends and undistributed proceeds, requiring detailed stakeholder information including tax implications. These changes enhance transparency and accountability in voluntary liquidation processes, effective from the gazette publication date.
TaxTMI 
