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of <h1>Section 62 of LLP Act 2008: Tribunal Sanctions for LLP Reconstruction or Amalgamation; Key Provisions and Compliance Requirements</h1> Section 62 of the Limited Liability Partnership Act, 2008, addresses the reconstruction or amalgamation of limited liability partnerships (LLPs). When a compromise or arrangement for reconstruction or amalgamation is proposed, the Tribunal may sanction it, facilitating the transfer of undertakings, properties, or liabilities between LLPs. The Tribunal can order the continuation of legal proceedings, dissolution without winding up, and provisions for dissenting parties. The Tribunal requires reports ensuring no prejudicial conduct before approving amalgamations involving LLPs under winding up. Orders must be registered within 30 days, with penalties for non-compliance. LLPs cannot amalgamate with companies.
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