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Unpaid and Undistributed Assets Account.

Rule 60 - LLP - 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 sum payable to any creditor or creditors, he shall transfer, within five days of such money being due, in a separate special bank account known as the "Distributable Sum Account of M/s . ________ LLP (in liquidation)". (b) any money representing assets refundable to any partner or partners, he shall transfer, withi .....

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uidator 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 be known as the "LLP Liquidation Account". (3) The liquidator or the LLP liquidator, as the case may be, shall, on the dissolution of the LLP, pay into the "LLP Liquidation Account" any money representing unpaid distributable sums or undistributed assets in his hands at the date of dissolution. (4) The li .....

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I. (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), and such receipt shall be an effectual discharge of the liquidator or the LLP Liquidator in respect thereof. (6) Where a LLP is being wound up voluntarily, the LLP Liquidator shall, when filing a statement in pursuance of sub-rule (1) of rule 56, indicate the sum of money which is payable under sub-rules (2) and (3) of this .....

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