CS Executive · Setting Up of Business, Industrial and Labour Laws · Limited Liability Partnership
The Tribunal sanctions a compromise for Lotus Services LLP on 10 March. Which statement about filing the order is correct?
The LLP must file the Tribunal's order with the Registrar within thirty days of the order, and the compromise or arrangement has effect only after it is so filed. Sanction alone does not make it operative.
- AThe order must be filed with the Registrar within thirty days and takes effect only after it is filedCorrect
- BThe order takes effect on 10 March and filing is merely a record
- CThe order must be filed within ninety days and takes effect on sanction
- DNo filing is needed if all partners agreed
Explanation
Section 60(3) requires the LLP to file the order with the Registrar within thirty days of making it, and the order has effect only after it is filed. Hence effect on sanction date is wrong.
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