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CS Executive · Setting Up of Business, Industrial and Labour Laws · Limited Liability Partnership

Section 63 of the LLP Act, 2008 deals with how a limited liability partnership may be wound up. Which statement matches it?

An LLP's winding up may be either voluntary or by the Tribunal, and an LLP so wound up may be dissolved. The Act does not limit winding up to the Tribunal or to the Registrar.

  1. AWinding up may be voluntary or by the Tribunal, and an LLP so wound up may be dissolvedCorrect
  2. BWinding up may only be by the Registrar, after which dissolution is compulsory
  3. CWinding up may be by the Tribunal only, and an LLP can never be voluntarily wound up
  4. DWinding up is done by the partners alone, and the LLP continues to exist afterwards

Explanation

Section 63 states that the winding up of an LLP may be either voluntary or by the Tribunal, and that an LLP so wound up may be dissolved. The other options add modes or conditions not in that section.

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