Compromise, or arrangement of limited liability partnerships

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..... angement 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 wound up, of the liquidator, order a meeti .....

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..... e limited liability partnership or any other person by whom an application has been made under sub-section (1) has disclosed to the Tribunal, by affidavit or otherwise, all material facts relating to the limited liability partnership, including the latest financial position of the limited liability partnership and the pendency of any investigation proceedings in relation to the limited liability p .....

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..... ction, stay the commencement or continuation of any suit or proceeding against the limited liability partnership on such terms as the Tribunal thinks fit, until the application is finally disposed of. ************* NOTES:- 1. Substituted vide THE LIMITED LIABILITY PARTNERSHIP (AMENDMENT) ACT, 2021 dated 13-08-2021 w.e.f. 01-04-2022 before it was read as (4) If default is made in complying with sub .....

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