Economic Survey urges need for simplifying voluntary liquidation process

A portal that combines all the steps of the liquidation process altogether, starting from application by companies to processing by all departments will prove to be very useful, it further said.

The Economic Survey 2021-22 has stressed on the need for a simplified procedure for voluntary liquidation of companies.“Thereis a case for simplifying the problems in the Voluntary Liquidation process, to improve ease of exit for business,” the Survey said.

“Apart from simplifying the issues in the various steps in the processes, there is a need for the creation of a single window for the entire process,” it added.