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of <h1>Clause 62: LLP Amalgamation Process Outlined; Tribunal Sanctions Transfers, Legal Continuity, and Dissenting Provisions. Compliance Essential.</h1> Clause 62 of the Limited Liability Partnership Bill, 2008, outlines the process for facilitating the reconstruction or amalgamation of limited liability partnerships (LLPs). When a compromise or arrangement is proposed under section 60, the Tribunal can sanction it if it involves the transfer of undertakings, property, or liabilities between LLPs. The Tribunal may order the continuation of legal proceedings, dissolution without winding up, and provisions for dissenting parties. The Tribunal requires reports ensuring no prejudicial conduct before sanctioning amalgamations. Transferred properties or liabilities vest in the transferee LLP, and orders must be registered with the Registrar within 30 days. Non-compliance incurs fines.
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