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IBBI tweaks norms relating to appointment of liquidator

August 10, 2020
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IBBI has notified the IBBI (Voluntary Liquidation Process) (Second Amendment Regulations, 2020 whereby regulation 5 has been substituted to provided that corporate person shall appoint an IP as liquidator, and, wherever required, may replace him by appointing another IP as liquidator, by a resolution passed under section 59(3)(c) or regulation 3(1)(c). The IP shall, within 3 days of his appointment as liquidator, intimate the Board about such appointment

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