LLP reconstruction orders enable transfer and vesting of undertakings, with safeguards, filing duties, and penalties for noncompliance. The Tribunal may sanction compromises or arrangements for reconstruction or amalgamation of LLPs and make provisions for transfer and vesting of undertaking, property or liabilities to a transferee LLP, continuation of legal proceedings by or against the transferee LLP, dissolution without winding up, provision for dissenting persons, and related incidental matters. Orders transferring property or liabilities vest them in the transferee LLP and may free property from charges; certified copies of orders must be filed with the Registrar within the prescribed period, with penalties for default.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
LLP reconstruction orders enable transfer and vesting of undertakings, with safeguards, filing duties, and penalties for noncompliance.
The Tribunal may sanction compromises or arrangements for reconstruction or amalgamation of LLPs and make provisions for transfer and vesting of undertaking, property or liabilities to a transferee LLP, continuation of legal proceedings by or against the transferee LLP, dissolution without winding up, provision for dissenting persons, and related incidental matters. Orders transferring property or liabilities vest them in the transferee LLP and may free property from charges; certified copies of orders must be filed with the Registrar within the prescribed period, with penalties for default.
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