Section 39(1) in Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
(1)The Board shall operate and maintain an Account to be called the Corporate Voluntary Liquidation Account in the Public Accounts of India:Provided that until the Corporate Voluntary Liquidation Account is operated as part of the Public Accounts of India, the Board shall open a separate bank account with a Scheduled bank for the purposes of this regulation.
