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Home Acts & Rules LLP Rule Limited Liability Partnership (Winding up and Dissolution) Rules, 2012

Limited Liability Partnership (Winding up and Dissolution) Rules, 2012

 
Rule 1 : Short title and commencement
Rule 2 : Definitions
Rule 3 : Forms
Rule 4 : Modes of winding up
Rule 5 : Circumstances in which LLP may be wound up voluntarily
Rule 6 : Commencement of voluntary winding up and filing up of statement of affairs
Rule 7 : Declaration of solvency in case of proposal to wind up voluntarily
Rule 8 : Meeting of creditors
Rule 9 : Publication of resolution to wind up voluntarily
Rule 10 : Appointment and removal of LLP Liquidator
Rule 11 : Filling up of vacancy in office of LLP Liquidator.
Rule 12 : Notice of appointment of LLP Liquidator to be given to Registrar.
Rule 13 : Designated partner's and other partner's power to cease on appointment of LLP Liquidator
Rule 14 : Duties of LLP Liquidator.
Rule 15 : Audit of the LLP liquidator's Account
Rule 16 : Appointment of committees
Rule 17 : LLP Liquidator to submit report on progress of winding up
Rule 18 : Report of LLP Liquidator to Tribunal for examination of persons
Rule 19 : Dissolution of LLP.
Rule 20 : LLP Liquidator to accept contribution, etc., as consideration for sale of property of LLP
Rule 21 : Distribution of property of LLP
Rule 22 : Arrangement between LLP and creditors
Rule 23 : Application to Tribunal
Rule 24 : Costs of voluntary winding up
Rule 25 : Inability to pay debts.
Rule 26 : Petition for winding up.
Rule 27 : Powers of Tribunal.
Rule 28 : Directions for filing statement of affairs.
Rule 29 : 'Liquidators' and their appointments.
Rule 30 : Removal and replacement of liquidator, etc.
Rule 31 : Winding up order to be communicated to the liquidator and the Registrar
Rule 32 : Winding up to operate in favour of all creditors and partners.
Rule 33 : Jurisdiction of Tribunal.
Rule 34 : Submission of report by Liquidator.
Rule 35 : Directions of Tribunal on report of Liquidator etc.
Rule 36 : Custody of LLP's properties.
Rule 37 : Partners, officers, employees, etc. to discover and deliver property, books, etc. and to cooperate with Liquidator.
Rule 38 : Application of assets.
Rule 39 : Committee of inspection.
Rule 40 : Submission of periodical reports, etc. to the Tribunal.
Rule 41 : Duties of Liquidator.
Rule 42 : Provision for assistance to Liquidator.
Rule 43 : Exercise and control of Liquidator's powers and duties.
Rule 44 : Books to be kept by Liquidator.
Rule 45 : Audit of Liquidator's accounts.
Rule 46 : Payment of debts due by partner.
Rule 47 : Adjustment of rights of partners.
Rule 48 : Control of Central Government over official liquidator as liquidator.
Rule 49 : Inspection or investigation of books of accounts and records of the Liquidator.
Rule 50 : Debts of all descriptions to be admitted to proof.
Rule 51 : LLP Liquidator or Liquidator to exercise certain powers subject to sanction.
Rule 52 : Statement that a LLP is in liquidation.
Rule 53 : Books and papers of LLP to be evidence.
Rule 54 : Inspection of books and papers by creditors and partners.
Rule 55 : Disposal of books and papers of LLP.
Rule 56 : Information as to pending liquidations.
Rule 57 : Liquidator to make payments into public account of India in the Reserve bank of India or any designated Scheduled bank.
Rule 58 : LLP Liquidator to make payments into Scheduled Bank.
Rule 59 : Liquidator or LLP Liquidator not to deposit monies into private bank account.
Rule 60 : Unpaid and Undistributed Assets Account.
Rule 61 : Meetings to ascertain wishes of creditors or partners.
Rule 62 : LLP Liquidator or Liquidator to make returns, etc.
Rule 63 : Court, Tribunal or person, etc. before whom affidavit may be sworn.
Rule 64 : Tribunal to declare dissolution of LLP void.
Rule 65 : Commencement of winding up by Tribunal.
Rule 66 : Exclusion of certain time in computing period of limitation.
Rule 67 : Filing with Registrar and filing Fee.
Rule 68 : Jurisdiction of the Tribunal:
Rule 69 : Form of Proceedings
Rule 70 : Language of proceedings
Rule 71 : Power of the Tribunal to enlarge or abridge time
Rule 72 : Provisions of the Code to apply
Rule 73 : Saving of inherent powers of the Tribunal
Rule 74 : Power to dispense with the requirement of the rules
Rule 75 : Computation of time
Rule 76 : Registers to be kept.
Rule 77 : Serial number of proceedings.
Rule 78 : Powers, functions and duties of Registrar of the Tribunal :
Rule 79 : Inspection and copies of proceedings.
Rule 80 : Forms.
Rule 81 : Affidavits.
Rule 82 : Form of summons and service thereof.
Rule 83 : Issue of summons.
Rule 84 : Affidavit verifying petition.
Rule 85 : Enclosures to petition.
Rule 86 : Summons for direction.
Rule 87 : Advertisement of petition.
Rule 88 : Contents of advertisement.
Rule 89 : Service of petition.
Rule 90 : Notice of petition and time of service.
Rule 91 : Service on LLP.
Rule 92 : Petitioner to effect service.
Rule 93 : Affidavit of service.
Rule 94 : Procedure on default of compliance as regards advertisement and service of notice.
Rule 95 : Mode of service and service when deemed to be effected.
Rule 96 : Validity of service and of proceedings.
Rule 97 : Notice to be given by persons intending to appear at the hearing of petition.
Rule 98 : List of persons, intending to appear, to be filed.
Rule 99 : Procedure at hearing of petition.
Rule 100 : Order to be drawn up.
Rule 101 : Petition for winding-up.
Rule 102 : Admission of petition and directions as to advertisement.
Rule 103 : Petition by a contingent or prospective creditor.
Rule 104 : Copy of petition to be furnished.
Rule 105 : Advertisement of petition.
Rule 106 : Application for leave to withdraw petition.
Rule 107 : Substitution of creditor or partner for original petitioner.
Rule 108 : Procedure on substitution.
Rule 109 : Affidavit-in-opposition.
Rule 110 : Affidavit in reply.
Rule 111 : Appointment of Provisional Liquidator.
Rule 112 : Rules and procedures applicable to Provisional Liquidator.
Rule 113 : Costs, etc. of Provisional Liquidator.
Rule 114 : Notice to Liquidator of order.
Rule 115 : Contents of winding-up order and order appointing Provisional Liquidator.
Rule 116 : Order to be sent to Liquidator and form of order.
Rule 117 : Summons for directions to be taken out by the Liquidator
Rule 118 : Directions on making the winding-up order.
Rule 119 : Advertisement of the order.
Rule 120 : Form of proceedings after winding up order is made.
Rule 121 : Application for stay of winding up proceedings.
Rule 122 : Application for leave to commence or continue or transfer suits or proceedings.
Rule 123 : Notice to submit statement.
Rule 124 : Application by Liquidator appointed by Tribunal
Rule 125 : Preparation of statement of affairs.
Rule 126 : Form of the statement.
Rule 127 : Extension of time for submitting statement.
Rule 128 : Partners and Officers of LLP to attend and give information.
Rule 129 : Duty of person making or concurring in statement.
Rule 130 : Default in complying with rule 28
Rule 131 : LLP Liquidator in voluntary winding-up to submit statement.
Rule 132 : Report by Liquidator.
Rule 133 : Inspection of statement and report.
Rule 134 : Further report by Liquidator.
Rule 135 : Consideration of report(s) by the Tribunal.
Rule 136 : Summons for direction to be taken out by Liquidator
Rule 137 : Fixing a date for proving debts.
Rule 138 : Notice to creditors.
Rule 139 : Proof of debt.
Rule 140 : Mode of proof and verification thereof.
Rule 141 : Contents of proof.
Rule 142 : Workmen's wages.
Rule 143 : Value of debts.
Rule 144 : Interest.
Rule 145 : Periodical payments.
Rule 146 : Proof of debt payable at a future time.
Rule 147 : Examination of proof.
Rule 148 : Liquidator's right to summon any person in connection with the investigation.
Rule 149 : Oaths.
Rule 150 : Costs of proof.
Rule 151 : Acceptance or rejection of proof to be communicated.
Rule 152 : Appeal by creditor.
Rule 153 : Procedure where creditor appeals.
Rule 154 : Liquidator not to be personally liable for costs.
Rule 155 : Proofs and list of creditors to be filed in Tribunal.
Rule 156 : List of creditors not to be varied.
Rule 157 : Notice of filing the list and inspection of the same.
Rule 158 : Expunging of proof.
Rule 159 : Payment of subsequent interest.
Rule 160 : Provisional list of partners.
Rule 161 : Notice to be given of date of settlement of list.
Rule 162 : Settlement of the list.
Rule 163 : Certificate of final settlement of the list to be filed in Tribunal.
Rule 164 : Notice to partners.
Rule 165 : Application by Liquidator for rectification of list.
Rule 166 : Application by partner to vary the list.
Rule 167 : Liquidator not to be personally liable for costs.
Rule 168 : 'Tribunal meetings', 'Liquidator's meetings' and 'Voluntary Liquidation meetings'.
Rule 169 : Application of rules to meetings.
Rule 170 : Notice of meeting.
Rule 171 : Place and time of meeting.
Rule 172 : Notice of first or other meeting to the officers of LLP.
Rule 173 : Proof of notice.
Rule 174 : Costs of calling meetings at the instance of creditor or partner.
Rule 175 : Chairman of meeting.
Rule 176 : Resolution at creditors' meeting.
Rule 177 : Resolution of partners' meeting.
Rule 178 : Copies of resolutions to be filed.
Rule 179 : Non-receipt of notice by a creditor or partner.
Rule 180 : Adjournment.
Rule 181 : Quorum.
Rule 182 : Procedure in the absence of quorum.
Rule 183 : When creditor can vote.
Rule 184 : Cases to which creditors may not vote.
Rule 185 : When secured creditor can vote and effect of voting.
Rule 186 : Procedure when secured creditor votes without surrendering security.
Rule 187 : The procedure for voting..
Rule 188 : Admission or rejection of proofs for purposes of voting.
Rule 189 : Report of Tribunal meetings.
Rule 190 : Minutes of proceedings.
Rule 191 : Voting by proxies.
Rule 192 : Form of proxies.
Rule 193 : Proxies to Liquidator or Chairman.
Rule 194 : Use of proxies by deputy.
Rule 195 : Forms to be sent with notice.
Rule 196 : Proxies to be lodged.
Rule 197 : Holder of proxy not to vote on matter in which he is financially interested.
Rule 198 : Minor not to be appointed proxy.
Rule 199 : Filling in proxy where creditor or partner is blind or incapable.
Rule 200 : Proxy of person not acquainted with English.
Rule 201 : Attendance proceedings.
Rule 202 : Representation of creditors and partners before Tribunal.
Rule 203 : Powers of Liquidator.
Rule 204 : Liquidator to be in the position of a receiver.
Rule 205 : LLP's property to be surrendered to Liquidator on requisition.
Rule 206 : Liquidator to realize unrealized contribution etc.
Rule 207 : Service of notice of demand.
Rule 208 : Order for payment of demand.
Rule 209 : Other moneys due by partners.
Rule 210 : Application for examination of persons suspected of having property, etc.
Rule 211 : Directions at hearing of summons.
Rule 212 : Examination on commission or by interrogation.
Rule 213 : Service of the summons.
Rule 214 : Conduct of the examination.
Rule 215 : Notes of the deposition.
Rule 216 : Order for public examination of partners, designated partners, officers etc in connection with fraud etc
Rule 217 : Notice of public examination.
Rule 218 : Adjournment of public examination to Tribunal.
Rule 219 : Procedure for contumacy.
Rule 220 : Notes of Examination.
Rule 221 : Shorthand notes of examination under above rules
Rule 222 : Application by any person under examination for fraud, etc. to be exculpated.
Rule 223 : Default in attending examination.
Rule 224 : Public examination in connection with fraud etc.
Rule 225 : Applications in connection with Liability for fraudulent conduct of business or to assess damages against delinquent partners, etc.
Rule 226 : Directions at preliminary hearing of summons.
Rule 227 : Application for further directions.
Rule 228 : Application for disclaimer of onerous property.
Rule 229 : Preliminary hearing of the summons.
Rule 230 : Claimant to furnish statement of his interest.
Rule 231 : Service of notice.
Rule 232 : Order granting leave to disclaim.
Rule 233 : Disclaimer to be filed in Tribunal.
Rule 234 : Vesting of disclaimed property.
Rule 235 : No claim to be compromised or abandoned without sanction of Tribunal.
Rule 236 : Application for sanction of compromise.
Rule 237 : Sale to be subject to sanction and to confirmation by Tribunal.
Rule 238 : Procedure at sale.
Rule 239 : Expenses of sale.
Rule 240 : Declaration of distributable sum or return of assets.
Rule 241 : Notice of declaration.
Rule 242 : Form of authority to pay distributable sum.
Rule 243 : Transmission of distributable sums by post.
Rule 244 : Form of order directing return of Assets.
Rule 245 : Payment of distributable sum or return of Assets due to a deceased creditor or partner.
Rule 246 : Liquidator to apply for dissolution,
Rule 247 : Dissolution of the LLP.
Rule 248 : Liquidator to pay the balance into public account.
Rule 249 : Conclusion of winding up.
Rule 250 : Application to declare dissolution void.
Rule 251 : Registers and Books to be maintained by the Liquidator.
Rule 252 : All money to be paid into Scheduled Bank.
Rule 253 : Bills, cheques and securities to be deposited into bank.
Rule 254 : Payments into Bank
Rule 255 : Liquidator's Distributable sum Account.
Rule 256 : Fees to be credited to Central Government.
Rule 257 : Where the LLP has no available assets.
Rule 258 : Investment of moneys.
Rule 259 : Liquidator to examine the accounts for purposes of investment.
Rule 260 : Investments to be made by the Bank.
Rule 261 : Distributable sum and interest to be credited.
Rule 262 : Refund of Income-tax.
Rule 263 : Yearly Accounts to be filled.
Rule 264 : Form of accounts.
Rule 265 : Nil Account
Rule 266 : Audit of the Liquidator's accounts.
Rule 267 : Auditors certificate to be filed.
Rule 268 : Audit fees.
Rule 269 : Inspection of the account and certificate of audit.
Rule 270 : Account and auditor's report to be placed before Member.
Rule 271 : Assistance for the Liquidator.
Rule 272 : Employment of additional or special staff where official Liquidator acts as Liquidator.
Rule 273 : Apportionment of expenses of common staff where official Liquidator acts as Liquidator
Rule 274 : Application for examination
Rule 275 : Applicability of rules.
Rule 276 : Declaration of solvency
Rule 277 : Statement to be laid before meeting of creditors.
Rule 278 : Notice of appointment of LLP liquidator
Rule 279 : Security by LLP liquidator appointed by Tribunal.
Rule 280 : Limit of remuneration of LLP liquidator appointed by the Tribunal.
Rule 281 : Restriction on purchase of goods by LLP liquidator.
Rule 282 : Office of LLP liquidator vacated by his insolvency.
Rule 283 : Resignation of LLP liquidator.
Rule 284 : Duty of LLP liquidator upon resignation.
Rule 285 : Books to be kept by the LLP liquidator.
Rule 286 : Banking account of the LLP liquidator.
Rule 287 : Bills, cheques and securities to be deposited in Bank.
Rule 288 : Investment of surplus funds.
Rule 289 : Liquidator's statements under rule 56.
Rule 290 : Submission of periodical reports to the Tribunal.
Rule 291 : Notice convening final meeting and the account to be laid before the meeting.
Rule 292 : Returns to Registrar.
Rule 293 : Inspection by creditor or partner of statements filed by liquidator.
Rule 294 : Audit of the liquidators' account.
Rule 295 : Applications for stay of proceeding in the winding up
Rule 296 : Statement of payment.
Rule 297 : Unclaimed distributable sums or undistributed assets under investment.
Rule 298 : Operation and maintenance of the Account.
Rule 299 : Cost, expenses, charges or fees payable out of the assets in a winding up by the Tribunal
Rule 300 : Inspection of file.
Rule 301 : Appeal from Order of Tribunal to National Company Law Appellate Tribunal
 
 
 
 


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