Creditor petition for LLP winding up seeks tribunal supervision when demand for unpaid debt is unmet. A creditor petition must identify the petitioner and authorised representative, give the LLP's incorporation, registered office, business and partner details, and specify the debt with particulars. It must allege service of a notice of demand at the LLP's registered office and failure to pay or provide adequate security, and where two-thirds in value of creditors consent, propose winding up by the Tribunal under the Limited Liability Partnership Act, 2008; if voluntary winding up exists, facts must show continuation would prejudice creditors.
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.
Creditor petition for LLP winding up seeks tribunal supervision when demand for unpaid debt is unmet.
A creditor petition must identify the petitioner and authorised representative, give the LLP's incorporation, registered office, business and partner details, and specify the debt with particulars. It must allege service of a notice of demand at the LLP's registered office and failure to pay or provide adequate security, and where two-thirds in value of creditors consent, propose winding up by the Tribunal under the Limited Liability Partnership Act, 2008; if voluntary winding up exists, facts must show continuation would prejudice creditors.
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