Fincare Business Services Ltd. goes into Voluntary liquidation

09 October 2024

Fincare Business Services filed for voluntary liquidation with the Insolvency and Bankruptcy Board of India and passed a special resolution in its 10th AGM. The resolution was to liquidate the company voluntarily by the relevant laws and regulations. The liquidation process will involve distributing the company's assets to its shareholders after settling claims with creditors and covering liquidation costs. The liquidation will not include selling or transferring assets to third parties, except for meeting the liquidation cost, providing for shareholders' entitlements, and addressing ongoing litigation. The resolution also authorizes specific individuals to carry out necessary actions and obtain approvals from the Reserve Bank of India on behalf of the company.