Ajay, Sanjay & Vijay LLP was formed in 2012. It was observed that the LLP filed Statement of account & Solvency for year ended 31st March, 2013, 31st March 2014, 31st March, 2015 and 31st March, 2016 while filing

A limited liability partnership may be wound up by the Tribunal- if the limited liability partnership decides that limited liability partnership be wound up by the Tribunal; if, for a period of more than six months, the number of partners of the limited liability partnership is reduced below two; if the limited liability partnership is unable to pay its debts; if the limited liability partnership has acted against the interests of the sovereignty and integrity of India, the security of the State or public order; if the limited liability partnership has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years; or if the Tribunal is of the opinion that it is just and equitable that the limited liability partnership be wound up. In the given case there are two circumstances which can be considered for a period of more than six months, the number of partners of the limited liability partnership is reduced below two;- In this case Sanjay and Vijay resigned only on 31st July, 2018, period of six months has not passed since, hence this is not a ground for winding up. if the limited liability partnership has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years- There is no such period of default in filing of Statement of Account and Solvency or annual return with the Registrar, hence this is not a valid ground for winding up. Hence, there is no sustainable ground for winding up the LLP by the tribunal.