https://www.taxtmi.com/news?id=17749 The regulations establish a framework for voluntary liquidation: initiation requires a majority director/partner declaration that the corporate person has no debt or can pay debts in full and is not being liquidated to defraud; the liquidator may seek suspension from the Adjudicating Authority if fraud or inability to pay is suspected. They prescribe liquidator independence and disclosure obligations, prohibit conflicted professionals from acting or representing stakeholders, and set procedures for announcements, claim verification, asset realisation, distribution, and eight-year record preservation after dissolution. en-us Fri, 31 Mar 2017 18:46:20 +0530 Fri, 31 Mar 2017 18:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17749 The regulations establish a framework for voluntary liquidation: initiation requires a majority director/partner declaration that the corporate person has no debt or can pay debts in full and is not being liquidated to defraud; the liquidator may seek suspension from the Adjudicating Authority if fraud or inability to pay is suspected. They prescribe liquidator independence and disclosure obligations, prohibit conflicted professionals from acting or representing stakeholders, and set procedures for announcements, claim verification, asset realisation, distribution, and eight-year record preservation after dissolution. News - Fri, 31 Mar 2017 18:46:20 +0530 https://www.taxtmi.com/news?id=17749