Regulation 14 - Early dissolution - Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

Early dissolution 14. Any time after the preparation of the Preliminary Report, if it appears to the liquidator that- (a) the realizable properties of the corporate debtor are insufficient to cover the cost of the liquidation process; and (b) the affairs of the corporate debtor do not require any further investigation; 1 [ he shall consult the consultation committee and if it advises for early dissolution, he may apply, along with a detailed report incorporating the views of the consultation committee, to the Adjudicating Authority ] for early dissolution of the corporate debtor and for necessary directions in respect of such dissolution. *************** NOTES:- 1. Substituted vide Notification No. IBBI/2023-24/GN/REG112 dated 12-02-2024 before it was read as, he may apply to the Adjudicating Authority