https://www.taxtmi.com/manuals?id=3128 Voluntary liquidation under Section 59 permits a corporate person with no default to wind up under Chapter V, following conditions prescribed by the Board and the IBBI Voluntary Liquidation Regulations. Directors must declare ability to pay debts or absence of debt and non-fraudulent intent, provide audited financials and valuation, and members must pass a resolution appointing an insolvency professional; creditor approval is required if the company owes debt. The process commences on the resolution date, requires notification to the Registrar and Board, applies specified Code provisions with modifications, and culminates in an application for dissolution and preservation of records. en-us Tue, 29 Aug 2023 17:02:00 +0530 Fri, 08 Dec 2023 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3128 Voluntary liquidation under Section 59 permits a corporate person with no default to wind up under Chapter V, following conditions prescribed by the Board and the IBBI Voluntary Liquidation Regulations. Directors must declare ability to pay debts or absence of debt and non-fraudulent intent, provide audited financials and valuation, and members must pass a resolution appointing an insolvency professional; creditor approval is required if the company owes debt. The process commences on the resolution date, requires notification to the Registrar and Board, applies specified Code provisions with modifications, and culminates in an application for dissolution and preservation of records. Manuals IBC Tue, 29 Aug 2023 17:02:00 +0530 https://www.taxtmi.com/manuals?id=3128