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[Cites 0, Cited by 0] [Section 256] [Entire Act]

Union of India - Subsection

Section 256(2) in The Limited Liability Partnership (Winding up and Dissolution) Rules, 2010

(2)In the cases where Liquidator is appointed in terms of rule 29, the remuneration of the Liquidator shall be approved by the Tribunal subject to a maximum remuneration of 5% of the value of the debt recovered and realization by sale of assets. The fees shall be determined in accordance with the following provisions:-
(a)where the Official Liquidator acts as a Provisional Liquidator only, such fee as the Tribunal may consider reasonable, to be paid out of the assets of the LLP or by the petitioner as the Tribunal may direct, in respect of the services of the Liquidator as Provisional Liquidator;
(b)where a winding up order is made and the official Liquidator acts as liquidator of a LLP,-
(i)upon the total assets, including unrealized or unrecovered contribution, interest on investments and rents from properties, realised or brought to credit by the Liquidator, after deducting sums on which fees are chargeable under clause (c) below and the amount spent out of the money received in carrying on the business of the LLP, upon each year's collections.
On the first Rs. 10,0000 or fraction thereof 4 per cent.
On the next Rs. 40,0000 or fraction thereof 3 per cent.
On the next Rs. 50,0000 or fraction thereof 2 per cent.
Above Rs. 10,0000 1 per cent.
(ii)On the total amount distributed as distributable sum to the creditors or return of contribution or assets to the partners;
(c)where the official Liquidator realises property for secured creditors, on the amount realised for each secured creditor -
On the first Rs. 10,0000 or fraction thereof 5 per cent.
On the next Rs. 40,0000 or fraction thereof 3 ½ per cent.
On the next Rs. 50,0000 or fraction thereof 3 per cent.
Above Rs. 1,00,0000 2 per cent.
(d)when the official Liquidator acts as trustee under a scheme of arrangement, such fee not exceeding the scale of fees under clause (b) above, as the Tribunal shall allow;
(e)when the official Liquidator performs any special duties not provided for above such fee as the Tribunal may fix on the application of the Liquidator, in addition to any other fee payable;
(f)where the official Liquidator acts as liquidator in a creditor's voluntary winding up, such fee as the Tribunal may fix, not exceeding the scale under sub-rule (2) below;
(g)where the Tribunal appoints any persons who are already liquidators in a winding-up to be additional liquidators in a winding-up of the LLP by the Tribunal, subject to the control of the official Liquidator, such fee as may be fixed by the Tribunal after taking into consideration the remuneration payable to such additional liquidators;
(h)where the Tribunal has sanctioned the reconstruction of the LLP under liquidation or a scheme of arrangement of its affairs, or where for any reason the Tribunal is of the opinion that the fees prescribed above would be insufficient. Such fee may be made as the Tribunal thinks fit.