Section 45 in Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
45. Final report prior to dissolution.
(1)When the corporate debtor is liquidated, the liquidator shall make an account of the liquidation, showing how it has been conducted and how the corporate debtor's assets have been liquidated.(2)If the liquidation cost exceeds the estimated liquidation cost provided in the Preliminary Report, the liquidator shall explain the reasons for the same.(3)[ The liquidator shall submit an application along with the final report and the compliance certificate in form H to theAdjudicating Authority for -(a)closure of the liquidation process of the corporate debtor where the corporate debtor is sold as a going concern; or(b)for the dissolution of the corporate debtor, in cases not covered under clause (a).]
