The Ministry of Corporate Affairs vide notification dated 04 March, 2022 has issued the Limited Liability Partnership(Second Amendment) Rules, 2022. The amendment provides revised process for insolvency resolution process of LLPs.
It is clarified that Statement of Account & Solvency shall be signed on behalf of the Limited Liability Partnership by designated partners. Once the corporate insolvency process is initiated, Statement of Account & Solvency shall be signed on behalf of the LLP by administrator of Limited Liability Partnership, interim resolution professional, resolution professional or liquidator.
