Moneycontrol News
With the process of liquidating companies becoming easier under the Insolvency and Bankruptcy Code, 2016, it’s not only the stressed companies that are taking the winding-up route but also some solvent companies are filing for voluntary liquidation.
These firms are financially-sound and are capable of settling their dues but want to shut shop for other reasons.
The government on March 31, 2017 notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2016. The regulations provide for the process of initiating voluntary liquidation by a corporate person companies, limited liability partnerships and any other persons incorporated with limited liability.
A firm can in…
Read the full article at: http://www.moneycontrol.com/news/business/companies/solvent-cos-file-for-voluntary-liquidation-as-procedure-gets-simpler-under-ibc-2016-2384339.html
