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of <h1>New Committee Formed to Revamp Insolvency Laws for Company Winding-Up: Focus on Transparency, Speed, and Global Alignment.</h1> The government has established a committee to review and suggest reforms for the insolvency laws related to company winding-up processes. The committee aims to enhance transparency, reduce delays, and align with international practices. It will address the management of companies post-winding up, rules of insolvency adjudication, asset liquidation, and distribution of proceeds. The committee includes various legal and industry experts and will consult the Law Commission. It is tasked with delivering a report within three months from its first meeting, with support from the Department of Company Affairs.
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