2.9.4:Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.

4. Effect of liquidation. 

(1) The corporate person shall from the liquidation commencement date cease to carry on its business except as far as required for the beneficial winding up of its business.

(2) Notwithstanding the provisions of sub-section (1), the corporate person shall continue to exist until it is dissolved under section 59(8).