Winding-up grounds for limited liability partnerships include partner reduction, insolvency, public order breaches and persistent non filing. A limited liability partnership may be wound up by the Tribunal where the partnership decides to seek winding up; the number of partners falls below two for more than six months; the partnership is unable to pay its debts; it acts against sovereignty, integrity, security or public order; it defaults in filing the Statement of Account and Solvency or annual return for five consecutive financial years; or where the Tribunal finds it just and equitable to wind up.
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.
Winding-up grounds for limited liability partnerships include partner reduction, insolvency, public order breaches and persistent non filing.
A limited liability partnership may be wound up by the Tribunal where the partnership decides to seek winding up; the number of partners falls below two for more than six months; the partnership is unable to pay its debts; it acts against sovereignty, integrity, security or public order; it defaults in filing the Statement of Account and Solvency or annual return for five consecutive financial years; or where the Tribunal finds it just and equitable to wind up.
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