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Inability to pay debts.

Rule 25 - Rule - LLP - Rule 25 - PART IV WINDING UP BY THE TRIBUNAL 25. For the purposes of clause (c) of section 64, an LLP shall be deemed to be unable to pay its debts- (a) if a creditor, by assignment or otherwise, to whom the LLP is indebted for an amount exceeding one lakh rupees then due, has served on the LLP, by causing it to be delivered at its registered office, by registered post or otherwise, a demand requiring the LLP to pay the amount so due and the LLP has failed to pay the such .....

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