Unpaid and Undistributed Assets Account.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....senting distributable sum payable to any creditor or creditors, he shall transfer, within five days of such money being due, in a separate special bank account known as the "Distributable Sum Account of M/s . ________ LLP (in liquidation)". (b) any money representing assets refundable to any partner or partners, he shall transfer, within five days of such money being due, in a separate sp....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g unpaid distributable sums or undistributed assets in his hands at the date of dissolution. (4) The liquidator or the LLP liquidator, as the case may be, shall, when making any payment referred to in sub-rules (2) and (3), furnish to the Registrar, a statement in the form as specified in these rules prescribed setting forth, in respect of all sums included in such payment, the nature of the su....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of this rule, as the case may be. (7) Any person claiming to be entitled to any money paid into the "LLP Liquidation Account" paid in pursuance of this rule may apply to the Tribunal for an order for payment thereof, and the Tribunal, if satisfied that the person claiming is entitled, may make an order for the payment to that person of the sum due: Provided that before making such an order,....