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After the 2026 amendment of section 59(2) of the Insolvency and Bankruptcy Code, 2016, within what…

Section 59(2) now requires voluntary liquidation to meet specified conditions and "be completed within such period which shall not be more than one year, as may be…

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After the 2026 amendment of section 59(2) of the Insolvency and Bankruptcy Code, 2016, within what maximum period must the voluntary liquidation of a corporate person be completed, as may be specified?

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Correct answer D

Section 59(2) now requires voluntary liquidation to meet specified conditions and "be completed within such period which shall not be more than one year, as may be specified". Before the amendment the Code left the timeline entirely to the Board's regulations. One hundred and eighty days is the new period for liquidation ordered under section 33, in section 54(1).

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