Which provision governs voluntary liquidation of an eligible corporate person that has not committed a default?
Question and options
Which provision governs voluntary liquidation of an eligible corporate person that has not committed a default?
Section 271(e) of the Companies Act, 2013
Section 53 of the Insolvency and Bankruptcy Code, 2016
Section 241 of the Companies Act, 2013
Section 59 of the Insolvency and Bankruptcy Code, 2016
Answer and explanation
Correct answer: D - Section 59 of the Insolvency and Bankruptcy Code, 2016
Section 59 of the Insolvency and Bankruptcy Code, 2016 governs voluntary liquidation of a corporate person that has not committed any default. Section 271 of the Companies Act, 2013 deals with winding up by the Tribunal, section 53 of the Code with the order of distribution in liquidation, and section 241 with oppression and mismanagement.
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IIT Kharagpur LL.M. Entrance
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