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Section 54 - Insolvency and Bankruptcy Code Act, 2016
54. Dissolution of corporate debtor.-
(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.
Related Sections
- Section 123: Application by creditor
- Section 83: Examination of application by resolution professional
- Section 94: Application by debtor to initiate insolvency resolution process
- Section 116: Implementation and supervision of repayment plan
- Section 56: Time period for completion of fast track corporate insolvency resolution process
Related Acts
- Payment of Wages (Amendment) Act, 2017
- Union Territory Goods and Services Tax Act, 2017
- Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020
- Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
- Assisted Reproductive Technology (Regulation) Act, 2021
* Only for reference.