Proceedings and Procedures - Payment of unclaimed distributable sums and undistributed assets into the LLPs liquidation account in a winding upLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
Proceedings and Procedures - Payment of unclaimed distributable sums and undistributed assets into the LLPs liquidation account in a winding upLimited Liability Partnership (Winding up and Dissolution) Rules, 2010
LLP winding up powers include dismissal, interim relief, provisional liquidator appointment and winding up authority. Rule 27 empowers the Tribunal on an LLP winding up petition to dismiss the petition, make interim orders, direct revival or rehabilitation, appoint a ... Summary
LLP winding up powers include dismissal, interim relief, provisional liquidator appointment and winding up authority.
Rule 27 empowers the Tribunal on an LLP winding up petition to dismiss the petition, make interim orders, direct revival or rehabilitation, appoint a provisional liquidator pending a winding up order, make a winding up order, or issue other fit orders; the Tribunal may not refuse winding up solely because assets are mortgaged or absent. The Tribunal may refuse winding up on just and equitable grounds if an alternative remedy exists and petitioners act unreasonably. A provisional liquidator's powers may be limited by the appointing or subsequent order but otherwise match those of a liquidator.
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