Special resolution format for voluntary liquidation under Section 59 of the IBC, appointing an insolvency professional as liquidator and fixing remuneration.
To consider and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution:
“RESOLVED THAT pursuant to the provisions of Section 59 of the Insolvency and Bankruptcy Code, 2016 read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017, and in view of the declaration of solvency made on [●] by a majority of the Directors of the Company and verified by affidavit, the Company be liquidated voluntarily, subject, where the Company owes any debt, to the approval of this resolution by creditors representing two-thirds in value of its debt within seven days of its passing.
RESOLVED FURTHER THAT Mr./Ms. [●], insolvency professional (Registration No.: [●]), be and is hereby appointed as the Liquidator of the Company on a remuneration of ₹[●] (Rupees [●] only) plus applicable taxes and out-of-pocket expenses, to conduct the voluntary liquidation in accordance with the said Code and Regulations.
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to inform the Registrar of Companies and the Insolvency and Bankruptcy Board of India of this resolution within seven days of its passing or of the creditors’ approval, file e-Form MGT-14, and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”