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of <h1>Liquidators Must Transfer Unpaid LLP Assets to Designated Accounts Within 5 Days Under Rule 60 of 2012 Rules</h1> Rule 60 of the Limited Liability Partnership (Winding up and Dissolution) Rules, 2012, mandates that liquidators handling unpaid or undistributed assets must transfer these funds into designated bank accounts within five days. If unclaimed for six months, the funds move to a 'LLP Liquidation Account' in the Public Account of India. Upon dissolution, any remaining unpaid sums are also transferred there. Liquidators must provide the Registrar with detailed statements of these transactions. Unclaimed funds for seven years go to the Central Government's general revenue, though claims can still be made. Liquidators failing to comply face penalties, including interest, expenses, and possible removal.
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