IBC 54 — Dissolution of corporate debtor

Insolvency & Bankruptcy Code, 2016

Statutory text

(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.
(2) The Adjudicating Authority shall on application filed by the liquidator under sub-section (1) order that the corporate debtor shall be dissolved from the date of that order and the corporate debtor shall be dissolved accordingly.
(3) A copy of an order under sub-section (2) shall within seven days from the date of such order, be forwarded to the authority with which the corporate debtor is registered.

Back to IBC