Section 62 of LLP Act, 2008 : Section 62: Provisions For Facilitating Reconstruction Or Amalgamation Of Limited Liability Partnerships

Explanation using Example

Imagine a scenario where two limited liability partnerships (LLPs), "Tech Innovations LLP" and "Creative Solutions LLP," decide to amalgamate to form a new entity, "TechCreative LLP." They propose a scheme where "Tech Innovations LLP" will transfer all its assets and liabilities to "Creative Solutions LLP," which will then be renamed "TechCreative LLP."

To proceed with this plan, they apply to the Tribunal under Section 60 of the Limited Liability Partnership Act, 2008, seeking approval for the compromise or arrangement necessary for the amalgamation. The Tribunal reviews the proposal and ensures that:

• The scheme is not prejudicial to the interests of the par...

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