https://www.taxtmi.com/acts?id=31037 A corporate person may initiate voluntary liquidation only if it has not committed default and complies with prescribed conditions, including a directors' declaration, supporting financial documents, member approval, and creditor approval where debt exists. The proceedings commence from the date of the members' resolution subject to creditor approval, may be terminated before dissolution upon special resolution and creditor approval, and end when the liquidator applies for dissolution after complete winding up and asset liquidation. The Adjudicating Authority then orders dissolution and the order is forwarded to the registering authority. en-us Tue, 02 Jan 2018 14:48:18 +0530 Tue, 26 May 2026 12:03:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31037 A corporate person may initiate voluntary liquidation only if it has not committed default and complies with prescribed conditions, including a directors' declaration, supporting financial documents, member approval, and creditor approval where debt exists. The proceedings commence from the date of the members' resolution subject to creditor approval, may be terminated before dissolution upon special resolution and creditor approval, and end when the liquidator applies for dissolution after complete winding up and asset liquidation. The Adjudicating Authority then orders dissolution and the order is forwarded to the registering authority. Act-Rules IBC Tue, 02 Jan 2018 14:48:18 +0530 https://www.taxtmi.com/acts?id=31037