Solar Grid LLP and Wind Nova LLP were two successful businesses operating in the renewable energy sector. Solar Grid LLP specialized in solar panel…

Solar Grid LLP and Wind Nova LLP were two successful businesses operating in the renewable energy sector. Solar Grid LLP specialized in solar panel manufacturing, while Wind Nova LLP was known for its innovations in wind turbine technology. Identifying a strategic opportunity to enhance their market footprint, both LLPs decided to merge into a unified entity named Green Fusion LLP. To implement the merger, the management of both LLPs proposed a scheme of compromise and arrangement under section 60 of the Limited Liability Partnership (LLP) Act, 2008. They approached the Tribunal to sanction the scheme, which included transferring all assets, liabilities and ongoing legal proceedings of Solar Grid LLP and Wind Nova LLP to Green Fusion LLP. Following a thorough review, the Tribunal determined that the scheme facilitated reconstruction and amalgamation. It issued an order under section 62, laying out clear provisions for transition: All assets and liabilities of Solar Grid LLP and Wind Nova LLP were transferred to Green Fusion LLP.Ongoing legal proceedings involving either of the original LLPs would continue in the name of Green Fusion LLP.Both Solar Grid LLP and Wind Nova LLP would be dissolved without winding up. However, several partners from Solar Grid LLP dissented from the arrangement. The Tribunal provided tailored directions to safeguard their interests and ensure fairness. After the order was made, both LLPs had to file a certified copy of the Tribunal's order with the Registrar within 30 days for registration. Unfortunately, due to some administrative delays, this filing was not completed within the stipulated time, leading to penalties for both Green Fusion LLP and its designated partners. On the basis of above facts and by applying applicable provisions of the Limited Liability Partnership Act, 2008 and the applicable Rules therein, choose the correct answer (one out of four) of the following Multiple Choice Questions (of 2 marks each) given herein under: