Chapter VI - Proceedings and Procedures - Petition for Winding up, Provisional Liquidator, Winding up Order, and Statement of Affairs, (From Rule 101 to Rule 110)
Chapter VI - Proceedings and Procedures - Meetings of creditors or partners in a winding up by Tribunal and of creditors in a voluntary winding up (From Rule 168 to Rule 190)
Chapter VI - Proceedings and Procedures - Proxies in relation to meetings in winding-up by Tribunal and to meetings of creditors in a voluntary winding-up (From Rule 191 to Rule 200)
Chapter VI - Proceedings and Procedures - Monies due from partners in a winding up by the Tribunal including outstanding contribution, etc. (From Rule 206 to Rule 209)
Chapter VI - Proceedings and Procedures - Examination of person suspected of having property of LLP etc. and examination of partners, designated partners, officers etc., in connection with the fruad etc. (From Rule 210 to Rule 224)
Chapter VI - Proceedings and Procedures - Application against delinquent partners, designated partners and officers of the LLP (From Rule 225 to Rule 234)
Chapter VI - Proceedings and Procedures - Payment of unclaimed distributable sums and undistributed assets into the LLPs liquidation account in a winding up (From Rule 296 to Rule 298)
Unpaid and undistributed assets account: mandated transfer to LLP Liquidation Account with Tribunal claim mechanism for claimants. Rule 60 requires a liquidator to place distributable sums and refundable partner assets, within five days of becoming due, into designated Distributable Sum or Distributable Asset Accounts; amounts unclaimed after six months must be transferred within seven days to the Public Account of India into an LLP Liquidation Account, and unpaid or undistributed sums at dissolution must likewise be paid into that account. The liquidator must furnish prescribed statements to the Registrar when making such payments and receives a bank receipt as discharge, while claimants may apply to the Tribunal and long unclaimed funds may ultimately transfer to government revenue subject to later claims.
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.
Unpaid and undistributed assets account: mandated transfer to LLP Liquidation Account with Tribunal claim mechanism for claimants.
Rule 60 requires a liquidator to place distributable sums and refundable partner assets, within five days of becoming due, into designated Distributable Sum or Distributable Asset Accounts; amounts unclaimed after six months must be transferred within seven days to the Public Account of India into an LLP Liquidation Account, and unpaid or undistributed sums at dissolution must likewise be paid into that account. The liquidator must furnish prescribed statements to the Registrar when making such payments and receives a bank receipt as discharge, while claimants may apply to the Tribunal and long unclaimed funds may ultimately transfer to government revenue subject to later claims.
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