Enumerate the circumstances in which a Limited Liability Partnership may be wound up by the Tribunal. Give your answer in respect of the provisions…
CA Intermediate · Corporate and Other Laws · MTP · May 2024
Enumerate the circumstances in which a Limited Liability Partnership may be wound up by the Tribunal. Give your answer in respect of the provisions of the Limited Liability Partnership Act, 2008.
Suggested Answer and Working Notes:
A LLP may be wound up by the Tribunal: (1) if the LLP decides that LLP be wound up by the Tribunal; (2) if, for a period of more than six months, the number of partners of the LLP is reduced below two; (3) if the LLP has acted against the interests of the sovereignty and integrity of India, the security of the State or public order; (4) if the LLP has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years; or (5) if the Tribunal is of the opinion that it is just and equitable that the LLP be wound up.
Topics: The Limited Liability Partnership Act, 2008
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