The government will soon come out with rules for winding up limited liability partnership (LLP) firms that can be either voluntary or under orders of a tribunal. We have written to Parliament asking if the winding-up rules can now be notified. A response is expected soon a corporate affairs ministry official said. The rules, which are in line with the provisions of the new Companies Bill, provide for an easier, simpler and less cumbersome procedure for wrapping up and dissolving LLPs, the official said.
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