Section 54 Limited Liability Partnership Act, 2008 Explained: Power of Tribunal to order winding up | Nyaya

Statutory Content

What does Section 54 of Limited Liability Partnership Act, 2008 say?

The Tribunal may, on an application made by the Registrar or any other person, order the winding up of a limited liability partnership if it is satisfied that the limited liability partnership is unable to pay its debts or that the limited liability partnership has acted in a manner prejudicial to the interests of its members or creditors.

Indian StandardSection 54, Limited Liability Partnership Act, 2008

Bluebook (21st ed.)Limited Liability Partnership Act, 2008, § 54 (India)

Court Pleading StandardSection 54 of the Limited Liability Partnership Act, 2008

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

Common Questions about Section 54 Limited Liability Partnership Act, 2008

What is Section 54 of Limited Liability Partnership Act, 2008?

Section 54 of the Limited Liability Partnership Act, 2008 (Limited Liability Partnership Act, 2008) defines and regulates "Power of Tribunal to order winding up". The section states: The Tribunal may, on an application made by the Registrar or any other person, order the winding up of a limited liability partnership if it is satisfied that the limited liability...

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