Rules for winding up and dissolution The Central Government may make rules for the provisions in relation to winding up and dissolution of limited liability partnerships.

Circumstances in which limited liability partnership may be wound up by Tribunal This table simplifies the conditions under which the Tribunal can order the winding up of an LLP as per Section 64 of the LLP Act. Each provision outlines a specific scenario that triggers the Tribunal’s authority to initiate the winding-up process. Provision Circumstances

Winding up and dissolution The winding up of a limited liability partnership may be either voluntary or by the Tribunal and limited liability partnership, so wound up may be dissolved.

Provisions for facilitating reconstruction or amalgamation of limited liability partnerships (1) Where an application is made to the Tribunal under section 60 for sanctioning of a compromise or arrangement proposed between a limited liability partnership and any such persons as are mentioned in that section, and it is shown to the Tribunal that (a) compromise or arrangement has been proposed for the purposes

Power of Tribunal to enforce compromise or arrangement (1) Where the Tribunal makes an order under section 60 sanctioning a compromise or an arrangement in respect of a limited liability partnership, it (a) shall have power to supervise the carrying out of the compromise or an arrangement; and (b) may, at the time of making such order or at any

Compromise, or arrangement of limited liability partnerships (1) Where a compromise or arrangement is proposed (a) between a limited liability partnership and its creditors; or (b) between a limited liability partnership and its partners, the Tribunal may, on the application of the limited liability partnership or of any creditor or partner of the limited liability partnership, or, in the case of a limited liability partnership which is being

Foreign limited liability partnerships The Central Government may make rules for provisions in relation to establishment of place of business by foreign limited liability partnerships within India and carrying on their business therein by applying or incorporating, with such modifications, as appear appropriate, the provisions of 1[the Companies Act, 2013] or such regulatory mechanism with such composition as may be prescribed.   Amendment 1.Substituted

Registration and effect of conversion (1) The Registrar, on satisfying that a firm, private company or an unlisted public company, as the case may be, has complied with the provisions of the Second Schedule, the Third Schedule or the Fourth Schedule, as the case may be, shall, subject to the provisions of this Act and the

Conversion from unlisted public company into limited liability partnership An unlisted public company may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Fourth Schedule.   Amendment * Enforced with effect from 31-5-2009. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal |