Clause 64 - Circumstances in which limited liability partnership may be wound up by Tribunal - Limited Liability Partnership Bill, 2008

Circumstances in which limited liability partnership may be wound up by Tribunal. 64. A limited liability partnership may be wound up by the Tribunal,- (a) if the limited liability partnership decides that limited liability partnership be wound up by the Tribunal; (b) if, for a period of more than six months, the number of partners of the limited liability partnership is reduced below two; (c) if the limited liability partnership is unable to pay its debts; (d) if the limited liability partnership has acted against, the interests of the sovereignty and integrity of India, the security of the State or public order; (e) if the limited liability partnership 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 (f) if the Tribunal is of the opinion that it is just and equitable that the limited liability partnership be wound up.