https://www.taxtmi.com/acts?id=54551 Dissolution of a corporate debtor during the corporate insolvency resolution process may be sought where the committee of creditors is satisfied that the corporate debtor's assets are insufficient to meet insolvency resolution process costs and likely liquidation costs, or that the assets cannot be effectively realised in the ordinary course of liquidation. A resolution to seek dissolution requires a vote of not less than sixty-six per cent of the voting share. The resolution professional must, within ten days, intimate the Adjudicating Authority by filing an application enclosing the committee resolution, asset particulars, details of claims, avoidance transactions and contingent assets, and a statement showing that continuation of the process or liquidation would not be economically beneficial. en-us Thu, 04 Jun 2026 14:40:40 +0530 Fri, 05 Jun 2026 16:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54551 Dissolution of a corporate debtor during the corporate insolvency resolution process may be sought where the committee of creditors is satisfied that the corporate debtor's assets are insufficient to meet insolvency resolution process costs and likely liquidation costs, or that the assets cannot be effectively realised in the ordinary course of liquidation. A resolution to seek dissolution requires a vote of not less than sixty-six per cent of the voting share. The resolution professional must, within ten days, intimate the Adjudicating Authority by filing an application enclosing the committee resolution, asset particulars, details of claims, avoidance transactions and contingent assets, and a statement showing that continuation of the process or liquidation would not be economically beneficial. Act-Rules IBC Thu, 04 Jun 2026 14:40:40 +0530 https://www.taxtmi.com/acts?id=54551