In India, corporate debt gains much attention during the changing dynamics of the business world. Presently, businesses across sectors and various scales are facing financial pressures due to rising borrowing rates, ever-changing demand, disruptions in the supply chain, and sector-specific issues. Many companies can restructure their finances successfully, but others are left in a long-term…
Section 59 of the Insolvency & Bankruptcy Code, 2016 deals with the provisions related to Voluntary Liquidation of Corporate Persons. Pre-requisites for initiation of voluntary liquidation proceedings: Intention to liquidate itself voluntarily. Not committed any default under the provisions of Chapter V of Insolvency & Bankruptcy Code, 2016. Conditions to be fulfilled for voluntary liquidation…
