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?
    A Initiate a fresh round of creditors' meetings Correct Answer Incorrect Answer
    B Submit a report to the liquidation committee Correct Answer Incorrect Answer
    C File a petition for insolvency resolution Correct Answer Incorrect Answer
    D Seek approval from the shareholders for reconstitution Correct Answer Incorrect Answer
    E Make an application to the Adjudicating Authority for dissolution Correct Answer Incorrect Answer

    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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