Completion of liquidation

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..... avoidance of transactions under 3[****] Part II of the Code, before the Adjudicating Authority or any action thereof: 5[******]] (2) If the liquidator fails to liquidate the corporate debtor within 2[one year], he shall make an application to the Adjudicating Authority to continue such liquidation, along with a report explaining why the liquidation has not been completed and specifying the addi .....

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..... Inserted vide Notification No. IBBI/2022-23/GN/REG082 dated 28-04-2022 5. Omitted vide Notification No. IBBI/2022-23/GN/REG094 dated 16-09-2022, before it was read as :- "Provided that where the sale is attempted under sub-regulation (1) of regulation 32A, the liquidation process may take an additional period up to ninety days." -
Statute, statutory provisions legislation, law, .....

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