Part 20

Registers and Books to be maintained by the Liquidator.

251. (1) The Liquidator shall maintain the following Registers and Books either in physical or digital format or both physical and digital:-

 (a) Register of Liquidations in Form No. 87;

 (b) Central Cash Book in Form No. 87A;

 (c) LLP’s Cash Book in Form No. 87B;

 (d) General Ledger in Form No. 87C;

 (e) Cashier’s Cash Book in Form No. 87D;

 (f) Bank Ledger in Form No. 87E;

 (g) Register of Assets in Form No. 87F;

 (h) Investment Register in Form No. 87G;

  (i) Register of Book Debts and Outstanding in Form No. 87H;

  (j) Tenants Ledger in Form No. 87-I;

 (k) Suits Register in Form No. 87J;

  (l) Decree Register in Form No. 87K;

(m) Sales Register in Form No. 87L;

 (n) Register of Claims and Distributable sums in Form No. 87M;

 (o) partners Register/ Ledger in Form No. 87N;

 (p) Distributable sums Paid Register in Form No. 87-O;

 (q) Commission Register in Form No. 87P;

 (r) Suspense Register in Form No. 87Q;

 (s) Documents Register in Form No. 87R;

 (t) Books Register in Form No. 87S;

 (u) Register of unclaimed distributable sums and undistributed assets, deposited into the LLPs liquidation account in Form No. 87T;

 (v) A Record Book for each LLP in which shall be entered all minutes of proceedings and the resolutions passed at any meeting of the creditors or partners or of the Committee of Inspection, the substance of all orders passed by the Tribunal in the liquidation proceedings, and all such matters other than matters of account as may be necessary to furnish a correct view of the administration of the LLP’s affairs; and

(w) any other register as may be prescribed by the Tribunal or the Central Government from time to time.

(2) In maintaining the registers and books mentioned in sub-rule (1), the Liquidator shall follow the instructions contained in the respective forms prescribed for the said books and registers and with such variations as may be necessary for the purpose of maintaining in the computer system or in digital format and the Central Government may review the Registers and modify the same from time to time.

(3) The Liquidator shall, in addition to the Registers and Books under sub-rule (1), maintain such books as may be necessary for the proper and efficient working of his office such as Petty Cash Register, Correspondence Register, Dispatch Register, Daily Register of Money Orders and Cheques received, and so on, and shall also keep the necessary files of correspondence and of proceedings in respect of each LLP under liquidation in his charge.

(4) Where the accounts of the LLP are incomplete, the Liquidator shall, with all convenient speed, as soon as the order for winding up is made, have them completed and brought up-to-date and audited by the partners and officers of the LLP in liquidation.

(5) (i) Where the Liquidator is authorised to carry on the business of the LLP, he shall keep separate books of account in respect of such business and such books shall, as far as possible, be in conformity with the books already kept by the LLP in the course of its business and the Liquidator shall incorporate in the Central Cash Book and in the LLP’s Cash Book, the total weekly amounts of the receipts and payments on such trading account.

(ii) The trading account shall from time to time not less than once in every month, be verified by affidavit.

(6) The Liquidator shall also keep a counterfoil Receipt Book in triplicate in Form No.88, the leaves of which shall be machine numbered serially, from which shall be issued all receipts for payment made to the Liquidator. The duplicate and the triplicate shall bear the same number as the original.

(7) The Liquidator shall keep proper vouchers for all payments made or expenses incurred by him. The vouchers shall be serially numbered.