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of <h1>Liquidator Must Obtain Tribunal Approval to Compromise Claims in LLP Winding Up Under Rule 235 of 2010 Rules.</h1> In the context of winding up a Limited Liability Partnership (LLP), the Liquidator is prohibited from compromising or abandoning any claim against a person without obtaining the sanction of the Tribunal. This requires providing notice to the concerned person as directed by the Tribunal. This rule is established under the Limited Liability Partnership (Winding up and Dissolution) Rules, 2010, specifically Rule 235, ensuring that any decision to compromise or abandon claims is subject to judicial oversight.
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