Just and equitable winding up: Central Government may petition the Tribunal to wind up an LLP after investigation findings. When an LLP is liable to be wound up and a report under section 49 shows it is expedient to wind up because of the circumstances in clause (c)(i) or (c)(ii) of section 43(3), the Central Government may, through an authorised person, present a petition to the Tribunal for winding up on the just and equitable ground, unless the LLP is already being wound up by the Tribunal.