valid as on 21/07/2024

2.5.14:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

14. Early dissolution.

Any time after the preparation of the Preliminary Report, if it appears to the liquidator that-

(a) the realizable properties of the corporate debtor are insufficient to cover the cost of the liquidation process; and

(b) the affairs of the corporate debtor do not require any further investigation;

 he may apply to the Adjudicating Authority for early dissolution of the corporate debtor and for necessary directions in respect of such dissolution.

Substituted vide the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2024 dated 12.02.2024. To view the notification, Click here.

IBBI Notification dated 12.02.2024 regarding IBBI (Liquidation Process) (Amendment) Regulations, 2024

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