Question
In the context of voluntary liquidation of a corporate
person as laid down under the IBC, what is the next step after the affairs have been completely wound up and its assets completely liquidated?Solution
Section 59-Voluntary liquidation of corporate persons: (7) Where the affairs of the corporate person have been completely wound up, and its assets completely liquidated, the liquidator shall make an application to the Adjudicating Authority for the dissolution of such corporate person.
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