https://www.taxtmi.com/article/detailed?id=541 Chapter XII and the Rules set out a statutory procedure for compromise, arrangement or reconstruction of LLPs: applications to the CLB must include an affidavit and the proposed scheme; the CLB directs notices, meeting procedures, valuation and voting (including proxies), and receives the chairman's report. If approved by the required value-majority and sanctioned by the CLB after disclosure and financial scrutiny, a scheme becomes binding once the sanction order is filed with the Registrar. For reconstruction or amalgamation, the CLB may order transfer of undertakings, liabilities and dissolution without winding up, and supervise implementation or order winding up if schemes cannot be worked. en-us Mon, 26 Oct 2009 00:00:00 +0530 Thu, 10 Dec 2009 18:38:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=541 Chapter XII and the Rules set out a statutory procedure for compromise, arrangement or reconstruction of LLPs: applications to the CLB must include an affidavit and the proposed scheme; the CLB directs notices, meeting procedures, valuation and voting (including proxies), and receives the chairman's report. If approved by the required value-majority and sanctioned by the CLB after disclosure and financial scrutiny, a scheme becomes binding once the sanction order is filed with the Registrar. For reconstruction or amalgamation, the CLB may order transfer of undertakings, liabilities and dissolution without winding up, and supervise implementation or order winding up if schemes cannot be worked. Articles Limited Liability Partnership - LLP Mon, 26 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=541