Section 55 Limited Liability Partnership Act, 2008 Explained: Procedure for winding up | Nyaya

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What does Section 55 of Limited Liability Partnership Act, 2008 say?

The Tribunal shall, on an application made by the Registrar or any other person, order the winding up of a limited liability partnership in the following manner: (a) the Tribunal shall appoint a liquidator to wind up the limited liability partnership; (b) the liquidator shall take possession of the assets of the limited liability partnership; (c) the liquidator shall distribute the assets of the limited liability partnership among the members in accordance with the provisions of this Act; (d) the liquidator shall file a return of the winding up with the Registrar.

Indian StandardSection 55, Limited Liability Partnership Act, 2008

Bluebook (21st ed.)Limited Liability Partnership Act, 2008, § 55 (India)

Court Pleading StandardSection 55 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 55 Limited Liability Partnership Act, 2008

What is Section 55 of Limited Liability Partnership Act, 2008?

Section 55 of the Limited Liability Partnership Act, 2008 (Limited Liability Partnership Act, 2008) defines and regulates "Procedure for winding up". The section states: The Tribunal shall, on an application made by the Registrar or any other person, order the winding up of a limited liability partnership in the following manner: (a) the Tribunal s...

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