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Declaration of solvency in case of proposal to wind up voluntarily

Rule 7 - Rule - LLP - Rule 7 - 7. . (1) Where it is proposed to wind up an LLP voluntarily, the majority of its designated partners (being not less than two) shall make a declaration in Form No. 2 verified by an affidavit to the effect that the LLP has no debt or that it will be able to pay its debts in full within such period, as may be specified in the declaration, but not exceeding one year from the commencement of the winding up. (2) A declaration made under sub-rule (1) shall have no effect .....

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