Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Duties of Liquidator.

Rule 41 - Rule - LLP - Rule 41 - 41. (1) Subject to sanction by the Tribunal, the Liquidator in a winding up by the Tribunal shall perform all or any of the following duties: (a) to carry on the business of the LLP as may be necessary for the beneficial winding up of the LLP; (b) to do all acts and to execute, in the name and on behalf of the LLP, all deeds, receipts, and other documents, and for that purpose, to use, when necessary, the LLP's seal, if any; (c) to take custody of property, a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

(f) to prove rank and claim in the insolvency of any partner for any balance against his estate, and to receive distributable sums in the insolvency, in respect of that balance, as a separate debt due from the insolvent, and rateably with the other separate creditors; (g) to draw, accept, make and endorse any bill of exchange, hundi or promissory note in the name and on behalf of the LLP, with the same effect with respect to the liability of the LLP as if the bill, hundi, or note had been drawn, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

money, be deemed to be due to the Liquidator himself; (i) to apply to the Tribunal for such orders or directions as may be necessary for the winding up of the LLP; (j) to appoint security guards or security agency from the panel maintained by the Liquidator, to protect the property and assets of the LLP taken into his custody, in consultation with secured creditors or after giving them notice; (k) to make out an inventory of the assets, books and records either by the Liquidator himself or by t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

sale of the assets of the LLP, within fifteen days from the date of receiving valuation report ; (n) to apply to the Tribunal for an order directing any person who, in his opinion, is competent to furnish a statement of the affairs under rule 28 and such person shall be served a notice by the liquidator to submit and verify the statement of affairs by the LLP; (o) to carry out investigation into the affairs of the LLP relating to fraudulent conduct or business, misfeasance etc, either himself o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

inding up order; (p) to call any person for recording any statement for the purpose of investigating the affairs of the LLP being wound up and it shall be the duty of every such person to attend to the liquidator at such time and place as the liquidator may appoint and give the liquidator all information which he may require and answer all such questions relating to winding up of LLP as may be put to him by the liquidator; (q) to maintain a separate bank account for each LLP under his charge for .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

idder shall, in response to advertisement referred to in clause (m) of sub-rule (1), deposit, his offer in the manner as may be specified by the Tribunal with the Liquidator or Provisional Liquidator, as the case may be, within forty-five days from the date of the advertisement and the liquidator or Provisional Liquidator shall permit inspection of property and assets in respect of which bids were invited: Provided that such bid may be withdrawn within three days before the last day of closing o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version