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Appointment and removal of LLP Liquidator

Rule 10 - Rule - LLP - Rule 10 - 10. . (1) The LLP shall within thirty days of - (a) passing of resolution of voluntary winding up under rule 5, where LLP has no creditors, or (b) filing of notice intimating the decision of winding up pursuant to sub .....

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ator. (2) Where the creditors have given consent under clause (b) or (c) of sub-rule (3) of rule 8, the appointment of LLP Liquidator under this rule shall be effective only after it is approved by two-thirds of the creditors in value of the LLP: Pro .....

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d to the LLP Liquidator. (3) If the creditors and the partners of the LLP nominate different LLP Liquidators, the LLP Liquidator nominated by creditors shall be the LLP Liquidator but where the creditors neither approve the LLP Liquidator nominated b .....

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quidator on such remuneration as may be determined by it. (5) The Tribunal may, on cause being shown, remove an LLP liquidator and appoint any other LLP liquidator in place of the removed LLP liquidator. (6) The Tribunal may also appoint or remove an .....

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ation in the Form No 6 disclosing conflict of interest or lack of independence in respect of his appointment, if any, with the LLP or the creditors, as the case may be, and such obligation shall continue throughout the term of his or its appointment. .....

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