Tribunal powers to dismiss, make interim orders, appoint provisional liquidator, or order winding up under LLP rules. The Tribunal may dismiss a winding up petition with or without costs, make interim orders, direct revival or rehabilitation under the Act, appoint a provisional Liquidator, make a winding up order with or without costs, or grant other fit orders; it must not refuse winding up solely because assets are mortgaged or absent. On just and equitable grounds the Tribunal may refuse winding up if an alternative remedy is available and petitioners act unreasonably. When appointing a Provisional Liquidator the Tribunal may limit or restrict his powers, otherwise he has the same powers and duties as a liquidator.
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.
Tribunal powers to dismiss, make interim orders, appoint provisional liquidator, or order winding up under LLP rules.
The Tribunal may dismiss a winding up petition with or without costs, make interim orders, direct revival or rehabilitation under the Act, appoint a provisional Liquidator, make a winding up order with or without costs, or grant other fit orders; it must not refuse winding up solely because assets are mortgaged or absent. On just and equitable grounds the Tribunal may refuse winding up if an alternative remedy is available and petitioners act unreasonably. When appointing a Provisional Liquidator the Tribunal may limit or restrict his powers, otherwise he has the same powers and duties as a liquidator.
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