Tribunal power to supervise compromises may direct modifications or order winding up if an arrangement cannot be worked. The Tribunal, after sanctioning a compromise or arrangement for a limited liability partnership, may supervise its implementation and give directions or make modifications necessary for its proper working; if the Tribunal concludes the arrangement cannot be worked satisfactorily with or without modifications, it may on its own motion or on application order the winding up of the LLP, with such an order deemed to be an order under the Act's winding up provisions.
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.
Tribunal power to supervise compromises may direct modifications or order winding up if an arrangement cannot be worked.
The Tribunal, after sanctioning a compromise or arrangement for a limited liability partnership, may supervise its implementation and give directions or make modifications necessary for its proper working; if the Tribunal concludes the arrangement cannot be worked satisfactorily with or without modifications, it may on its own motion or on application order the winding up of the LLP, with such an order deemed to be an order under the Act's winding up provisions.
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