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Unpaid and Undistributed Assets Account.

Rule 60 - Rules - Limited Liability Partnership (Winding up and Dissolution) Rules, 2012 - Rule 60 - 60. (1) If the Liquidator or LLP Liquidator has in its hands or under his control any money representing - (a) any money representing distributable s .....

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ting assets refundable to any partner or partners, he shall transfer, within five days of such money being due, in a separate special bank account known as the "Distributable Asset Account of M/s ___________ LLP (in liquidation)". (2) If th .....

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months from the date of transfer of such amount, the Liquidator or LLP Liquidator shall, within seven days from the date of expiry of the said period of six months, transfer the said amount into the Public Account of India in a separate account to b .....

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or undistributed assets in his hands at the date of dissolution. (4) The liquidator or the LLP liquidator, as the case may be, shall, when making any payment referred to in sub-rules (2) and (3), furnish to the Registrar, a statement in the form as s .....

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nature of his claim thereto, and any other particulars specified in Part VI. (5) The liquidator or the LLP liquidator, as the case may be, shall be entitled to a receipt from the Scheduled bank for any money paid to it under sub-rules (2) and (3), a .....

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cate the sum of money which is payable under sub-rules (2) and (3) of this rule and shall, pay that sum into the accounts mentioned in sub-rule (2) or sub-rule (3) of this rule, as the case may be. (7) Any person claiming to be entitled to any money .....

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t person of the sum due: Provided that before making such an order, the Tribunal shall cause a notice to be served on Registrar, calling him to show cause within one month from the date of the service of the notice why the order should not be made. ( .....

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y money so transferred may be preferred under sub-rule (7) and shall be dealt with as if such transfer had not been made and the order, if any, for payment on the claim will be treated as an order for refund of revenue. (9) Any liquidator or LLP liqu .....

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