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Limited liability partnership may be wound up by which one of the following
Question



Limited liability partnership may be wound up by which one of the following

A.

Voluntarily

B.

By the Registrar, if the firm fails to file annual return in the prescribed form with the Registrar of Companies within 60 days of closer of the financial year

C.

By the tribunal established under the Companies Act, 2013

D.

Either voluntarily or by the tribunal established under the Companies Act, 2013

Correct option is D


There are two types of winding up of a Limited Liability Partnership (LLP):
1. Voluntary Winding Up A voluntary winding up can be initiated by the LLP itself by passing a resolution for winding up the LLP with the consent of at least two-thirds of the total number of partners
2. Compulsory Winding Up: A compulsory winding up can be initiated by the National Company Law Tribunal (NCLT) on the application of the LLP itself, the partners, the creditors, or any other interested party.

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