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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Rule 237 mandates tribunal approval for LLP property sales during winding-up, ensuring legal compliance in dissolution.</h1> Under Rule 237 of the Limited Liability Partnership (Winding up and Dissolution) Rules, 2010, any sale of property belonging to a Limited Liability Partnership (LLP) undergoing winding-up by the Tribunal requires prior sanction from the Tribunal. Additionally, each sale must be confirmed by the Tribunal, which may issue a confirmation order or otherwise within sixty days following the filing of the liquidator's or provisional liquidator's report. This ensures that the sale process adheres to legal oversight and regulatory compliance during the dissolution proceedings.
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