Section 60(9) in The Limited Liability Partnership (Winding up and Dissolution) Rules, 2010
(9)Any liquidator or LLP liquidator, as the case may be, retaining any money which should have been paid by him into the "LLP Liquidation Account" under this rule shall -(a)pay interest on the amount so retained at the rate of twelve per cent per annum and also pay such penalty as may be determined by the Tribunal:Provided that the Central Government may, in any proper case remit either in part or in whole the amount of interest which the liquidator is required to pay under this clause;(b)be liable to pay any expenses occasioned by reason of his default; and(c)where the winding up is by the Tribunal, also be liable to have all or such part of his remuneration, as the Tribunal may consider just, to be disallowed, and to be removed from his office by the Tribunal.
