Jayanta Bandyopadhyay 03 September 2024
In the year 2016, we had incorportated one LLP but post incorporation, no commercial activity got started. No bank account- no audit-no return.
Now we want to make closure of LLP thru C-PACE (MCA).
My query is that Deed mentions about winding up per section 60 of LLP Act. - which is compromise.
My reading is that it should have been Section 64.
Kindly guide.
T. Kalaiselvan, Advocate (Advocate) 03 September 2024
If a majority of creditors or partners agree to the compromise or arrangement, it becomes binding on all parties.
Now you can decide what can be done.
Jayanta Bandyopadhyay 03 September 2024
Sir
Remain thankful
In our case, there is no compromise. Post incorporation, no action was taken. Here partners are opting for voluntary closure thru MCA [ not clear about tribunal].
My view is Section 64 and not 60.
As our Deed has only reference to Section 60, should we amend partnership Deed and proceed for closures.
Kindly guide.
Regards
T. Kalaiselvan, Advocate (Advocate) 03 September 2024
You can get your existing deed properly scrutinized by an experienced consultant and take a second opinion before taking any hasty step.
Real Soul.... (LEGAL) 04 September 2024
You should amend the agreement to the extent of correction of error by replacing the section 60 to section 64,and then you can invoke the relevant clasue to close the partnership .
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