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Clues by NC Team • 27 Mar 2019, Wednesday

The ministry of corporate affairs will soon notify regulations for revival of companies that have been ordered for liquidation through the insolvency process. "Once the liquidation order is given, the liquidator has to explore Section 230 of the Companies Act first. We are working on the regulation on how this will be done and the process that will be followed," a senior official said. Section 230 of the Act allows creditors to make arrangements with the members of the company to restructure debt liabilities. 

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