The issue highlights mandatory annual return filing for LLPs. The key takeaway is that delayed filing attracts heavy daily penalties, making timely compliance essential.
Clarifies that Form PAS-6 must be filed once ISIN is obtained, even if no shares are in demat form. Highlights the strict applicability under Rule 9A/9B and the importance of compliance.
The framework permits liquidation only where the company has not defaulted on debts and can pay liabilities. It ensures a clean and fraud-free exit for solvent entities under a regulated process.
