The ICAI released a handbook in February 2024 to guide insolvency professionals on the voluntary liquidation process under the Insolvency and Bankruptcy Code, 2016 (IBC). The IBC, a key economic reform, has been amended six times to address implementation challenges and adapt to new requirements. It allows solvent corporations to voluntarily liquidate under IBC provisions, with an insolvency professional overseeing the process. The handbook aims to help professionals navigate the complexities of voluntary liquidation, highlighting practical aspects and procedural intricacies.
The Complete Handbook can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/79243ivsb63375-vlpavsb-Copy.pdf