Winding up by Tribunal: statutory grounds include partner reduction, filing defaults, security/public order breaches, or just and equitable reasons. Winding up by Tribunal is available where a limited liability partnership elects Tribunal-directed dissolution, where membership falls below two partners ... Summary
Winding up by Tribunal: statutory grounds include partner reduction, filing defaults, security/public order breaches, or just and equitable reasons.
Winding up by Tribunal is available where a limited liability partnership elects Tribunal-directed dissolution, where membership falls below two partners for over six months, where the partnership has acted against the sovereignty and integrity of India, the security of the State or public order, where the partnership defaults in filing the Statement of Account and Solvency or annual return for five consecutive financial years, or where the Tribunal regards winding up as just and equitable; the text notes omission of the prior inability-to-pay-debts ground.
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