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[Cites 0, Cited by 0] [Section 59(3)] [Section 59] [Entire Act]

Union of India - Subsection

Section 59(3)(a) in Insolvency And Bankruptcy Code, 2016

(a)a declaration from majority of the directors of the company verified by an affidavit stating that-
(i)they have made a full inquiry into the affairs of the company and they have formed an opinion that either the company has no debt or that it will be able to pay its debts in full from the proceeds of assets to be sold in the voluntary liquidation; and
(ii)the company is not being liquidated to defraud any person;