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)
Liquidator fees credited to Central Government: Tribunal fixes remuneration and tiered fee scales for liquidation proceeds. LLP assets must fund payment into the public account of India to the credit of the Central Government of liquidator commissions by the prescribed date. The Tribunal approves remuneration: when the Official Liquidator is provisional liquidator a reasonable fee may be ordered; when acting post-winding-up fees are set on yearly collections under a graduated scale and separately on amounts realised for secured creditors. The Tribunal may fix fees for trustee roles, special duties, additional liquidators, and where reconstruction or schemes render standard scales insufficient; remuneration under other rules is subject to Tribunal approval and a five per cent cap on recovered debts and realisations.
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.
Liquidator fees credited to Central Government: Tribunal fixes remuneration and tiered fee scales for liquidation proceeds.
LLP assets must fund payment into the public account of India to the credit of the Central Government of liquidator commissions by the prescribed date. The Tribunal approves remuneration: when the Official Liquidator is provisional liquidator a reasonable fee may be ordered; when acting post-winding-up fees are set on yearly collections under a graduated scale and separately on amounts realised for secured creditors. The Tribunal may fix fees for trustee roles, special duties, additional liquidators, and where reconstruction or schemes render standard scales insufficient; remuneration under other rules is subject to Tribunal approval and a five per cent cap on recovered debts and realisations.
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