Sanction of compromise requires a liquidator's affidavit confirming benefit to the LLP and possible directed notice by the tribunal. Application for sanction of a compromise must be accompanied by a copy of the proposed compromise and an affidavit of the liquidator stating reasons and satisfaction that the proposed compromise is beneficial to the LLP; the Tribunal may direct notice to the Committee of Inspection and other persons.
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.
Sanction of compromise requires a liquidator's affidavit confirming benefit to the LLP and possible directed notice by the tribunal.
Application for sanction of a compromise must be accompanied by a copy of the proposed compromise and an affidavit of the liquidator stating reasons and satisfaction that the proposed compromise is beneficial to the LLP; the Tribunal may direct notice to the Committee of Inspection and other persons.
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