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
Directions on liquidation: Tribunal sets completion timelines, may order sale, revival, investigation, and asset-preservation measures. Tribunal, on the Liquidator's report, fixes a time-limit for completion of winding up and dissolution, may shorten that period if proceedings are ... Summary
Directions on liquidation: Tribunal sets completion timelines, may order sale, revival, investigation, and asset-preservation measures.
Tribunal, on the Liquidator's report, fixes a time-limit for completion of winding up and dissolution, may shorten that period if proceedings are uneconomical, and may allow a limited extension on application by the Liquidator. The Tribunal may order sale of the LLP or its assets and appoint a Sale Committee to assist, or direct revival procedures where rehabilitation is practicable. Upon report of fraud, the Tribunal shall order investigation and may pass orders after considering the report, and it may take steps to protect or enhance asset value and give other necessary directions.
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