https://www.taxtmi.com/acts?id=31013 The liquidator, subject to the directions of the Adjudicating Authority, has comprehensive powers to take custody of the corporate debtor's assets, evaluate and preserve them, carry on business where necessary, sell property, settle claims, distribute proceeds, and conduct litigation in liquidation. The liquidator may also pursue avoidance transactions or fraudulent or wrongful trading, obtain professional assistance, apply for orders, report progress, and perform other functions specified by the Board, while the committee of creditors supervises the liquidation process. A transitional explanation limits the application of certain amended provisions to liquidation and voluntary liquidation processes initiated after the commencement of the 2026 amendment. en-us Tue, 02 Jan 2018 14:17:40 +0530 Tue, 26 May 2026 11:44:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31013 The liquidator, subject to the directions of the Adjudicating Authority, has comprehensive powers to take custody of the corporate debtor's assets, evaluate and preserve them, carry on business where necessary, sell property, settle claims, distribute proceeds, and conduct litigation in liquidation. The liquidator may also pursue avoidance transactions or fraudulent or wrongful trading, obtain professional assistance, apply for orders, report progress, and perform other functions specified by the Board, while the committee of creditors supervises the liquidation process. A transitional explanation limits the application of certain amended provisions to liquidation and voluntary liquidation processes initiated after the commencement of the 2026 amendment. Act-Rules IBC Tue, 02 Jan 2018 14:17:40 +0530 https://www.taxtmi.com/acts?id=31013