Dissolution of corporate debtor.

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....tion commencement date in such manner as may be specified: Provided that the Adjudicating Authority may, on an application by the liquidator along with sufficient reasons, extend the stipulated time by such period as it deems fit, but not exceeding a period of ninety days. (1A) Where a proceeding in respect of an avoidance transaction or fraudulent or wrongful trading or under section 47 is ....

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.... parties in such suit or proceedings, in such manner and subject to such conditions as may be specified.] (2) The Adjudicating Authority shall on application filed by the liquidator under sub- section (1) order that the corporate debtor shall be dissolved from the date of that order and the corporate debtor shall be dissolved accordingly. ^2[(2A) Without prejudice to the provisions of sub-se....

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....b-section (2A), the passing of the dissolution order shall not affect the continuation of proceedings referred to in sub-sections (1A) and (1B).] (3) A copy of an order under sub-section (2) ^3[or sub-section (2A)] shall within seven days from the date of such order, be forwarded to the authority with which the corporate debtor is registered. ^4[(4) The Adjudicating Authority shall pass a di....

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.... read as, "(1) Where the assets of the corporate debtor have been completely liquidated, the liquidator shall make an application to the Adjudicating Authority for the dissolution of such corporate debtor." 2.  Inserted vide Section 33 of the Insolvency and Bankruptcy Code (Amendment) Act, 2026 w.e.f. 26-05-2026 (Notified vide Notification No. S.O.....