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of <h1>Rule 29: Liquidators Oversee LLP Winding Up, Must Disclose Conflicts and Provide Security; Tribunal Sets Fees and Terms.</h1> Rule 29 of the Limited Liability Partnership (Winding up and Dissolution) Rules, 2010, outlines the appointment and responsibilities of Liquidators in the winding up of LLPs by the Tribunal. A Liquidator, either an Official Liquidator or one appointed by the Tribunal from a government-maintained panel, manages the process. The panel includes experienced professionals like chartered accountants and advocates. The Central Government can remove panel members for misconduct, providing a hearing opportunity. Liquidators must furnish security and disclose conflicts of interest. Their appointment terms and fees are determined by the Tribunal, and they operate under the title 'The Liquidator' of the respective LLP.
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