Stay updated with breaking news from Voluntary Liquidation. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Finance Minister John Salong has condemned the Opposition’s demands for the Prime Minister’s (PM) resignation, labelling them as “irresponsible” and “unwarranted.”
The Reader’s Digest UK magazine began in 1938.
The directive comes after some financial services providers are observed to have “commenced the voluntary liquidation process without notification and/or prior permission of the appropriate financial regulator”, the bankruptcy watchdog said.
The article summarizes the voluntary liquidation process and, in the later part, delves into its probable misuse vis-à-vis creditors of the corporate applicant.
Proposing four changes to its regulations on voluntary liquidations, the Insolvency and Bankruptcy Board of India (IBBI) has also asked the directors of such stressed firms to disclose pending litigations or proceedings involving statutory authorities about the companies. Stakeholders have been asked to submit by October 26 their comments on the IBBIs voluntary liquidation regulations.