Voluntary liquidation is one of the most appropriate ways to close or wind up businesses that do not seem to be viable anymore. This form of liquation is suitable for the businesses which are not insolvent yet but the business they are carrying out is not profitable or the company does not have enough resources to carry out that business to sustain profitability.
This process is suitable only for the companies which are willing to end their corporate structure and operations to sell their assets so that they can pay their creditors as per their seniority. There is no need for interference or monitoring by the court when such type of liquidation is carried out and the company has to pay some voluntary liquidation costs for it.
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