Law · Legal Aptitude
A Public Limited Company is under the process of voluntary liquidation. The liquidator approaches a bank to open a new account to deposit the sale proceeds of the company's assets. To ensure compliance with the Companies Act 2013 and IBC 2016, which is the most critical document the bank must obtain?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The original Memorandum and Articles of Association of the company, amended to include the liquidator's name as a director.
- 2A personal guarantee from the liquidator to cover any potential losses the bank might face due to the company's previous debts.
- 3The certified copy of the order from the National Company Law Tribunal (NCLT) or the resolution passed by the creditors/members appointing the liquidator.✓
- 4A No Objection Certificate from the Registrar of Companies specifically stating that the company has no outstanding tax liabilities.
Correct answer
The certified copy of the order from the National Company Law Tribunal (NCLT) or the resolution passed by the creditors/members appointing the liquidator.
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