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The Insolvency and Chapter Board of India (IBBI) has notified a number of modifications to the voluntary liquidation laws, decreasing the timeframe for a company to exit the enterprise to simply 90 days if no claims are acquired from any creditor.
This shall assist in additional enhancing the liberty of exit for traders as a part of the federal government efforts to reinforce ease of doing enterprise, consultants stated.
IBBI has additionally launched a compliance certificates beneath a brand new Kind H.
