Section 35(12) in The Limited Liability Partnership Rules, 2009
(12)(i)An arrangement for revival and rehabilitation of any LLP may be proposed,-(a)where on a demand by the creditors of the LLP representing fifty per cent or more of its outstanding amount of debt the LLP has failed to pay the debt, within thirty days of the service of the notice of demand or to secure or compound it to the reasonable satisfaction of the creditors; or(b)where a petition for winding up of a LLP is pending before the Tribunal, in terms of the directions given by the Tribunal on the winding up petition; or(c)where the liquidator has filed his report before the Tribunal, in terms of directions given by the Tribunal on the report of the Liquidator.(ii)Without prejudice to clause (i), the LLP or any creditor or partner of the LLP, or in the case of a LLP which is being wound up, the Liquidator, may make an application for sanction of the arrangement for revival and rehabilitation before the Tribunal.
