Section 58(2) in The Limited Liability Partnership (Winding up and Dissolution) Rules, 2010
(2)If any LLP Liquidator at any time retains for more than ten days a sum exceeding fifty thousand rupees or such other amount as the Tribunal may, on the application of the LLP Liquidator, authorize him to retain, then, unless he explains the retention to the satisfaction of the Tribunal, he shall-(a)pay interest on the amount so retained in excess, at the rate of twelve per cent per annum and also pay such penalty as may be determined by the Tribunal;(b)be liable to pay any expenses occasioned by reason of his default; and(c)be liable to have all or such part of his remuneration, as the Tribunal may consider just, disallowed or may also be removed from his office.
