Economics · Business Law
Which of the following statements is INCORRECT regarding the winding up of a Limited Liability Partnership (LLP) under the LLP Act, 2008?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1An LLP may be wound up if the number of partners is reduced below two for a period of more than six months.
- 2The winding up of a limited liability partnership can be done only by the Tribunal.✓
- 3An LLP may be wound up if it defaults in filing the Statement of Account and Solvency or Annual Return for any five consecutive financial years.
- 4An LLP may be wound up if the Tribunal is of the opinion that it is just and equitable to do so.
Correct answer
The winding up of a limited liability partnership can be done only by the Tribunal.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Preparing for Economics?
Practice full-length Economics mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Business Law MCQs →Want more practice questions on Business Law?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Business Law