https://www.taxtmi.com/acts?id=54007 Section 54 is amended to require the liquidator to complete liquidation and seek dissolution within 180 days, subject to a possible 90-day extension for sufficient reasons. The committee of creditors is to determine how pending proceedings concerning avoidance transactions, fraudulent or wrongful trading, section 47 matters, and related suits or proceedings are to be pursued and how any resulting proceeds are to be distributed. The Adjudicating Authority may order dissolution on receipt of the committee's decision, dispose of any remaining assets in the specified manner, and must pass the dissolution order within 30 days, recording reasons for any delay. en-us Tue, 07 Apr 2026 13:11:27 +0530 Tue, 07 Apr 2026 13:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54007 Section 54 is amended to require the liquidator to complete liquidation and seek dissolution within 180 days, subject to a possible 90-day extension for sufficient reasons. The committee of creditors is to determine how pending proceedings concerning avoidance transactions, fraudulent or wrongful trading, section 47 matters, and related suits or proceedings are to be pursued and how any resulting proceeds are to be distributed. The Adjudicating Authority may order dissolution on receipt of the committee's decision, dispose of any remaining assets in the specified manner, and must pass the dissolution order within 30 days, recording reasons for any delay. Act-Rules F. Acts / Amendment Acts Tue, 07 Apr 2026 13:11:27 +0530 https://www.taxtmi.com/acts?id=54007