Question
Upon complete liquidation of the assets of a corporate
debtor, to which authority should the liquidator make an application for the dissolution of the corporate debtor?Solution
IBC Section 54-Dissolution of corporate debtor: (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.
The directors, partners and one representative of operational creditors, may attend the meetings of committee of creditors but shall not have any right ...
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