Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Tribunal Can Remove Liquidator for Misconduct, Fraud, or Incompetence; Can Recover Damages for Negligence Under Rule #.</h1> The Tribunal has the authority to remove a Provisional Liquidator or Liquidator for reasons such as misconduct, fraud, professional incompetence, inability to act, or conflict of interest, provided reasons are documented. In case of a vacancy due to death, resignation, or removal, the Tribunal can reassign duties to another Liquidator. If a Liquidator is deemed responsible for causing loss or damage to a Limited Liability Partnership (LLP) through fraud or negligence, the Tribunal may recover damages from them. Before any order is passed, the Liquidator must be given a reasonable opportunity to be heard.
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