Winding up of LLP

[Chandramauli Dwivedi]

Respected All,

Kindly explain me Is it possible as per LLP Act & Rules  to proceed for wind up of LLP by  only one Partner, if the another partner is not taking interest in its LLP to run or winding up and he is in abroad  too.

AI Summary

Winding up an LLP unilaterally is not possible; requires three-fourths partner approval per Section 63 and relevant rules. A forum participant inquired about the possibility of winding up a Limited Liability Partnership (LLP) with only one partner's consent when the other partner is uninterested and abroad. Two responses were provided. The first suggested reviewing Section 63 of the LLP Act, 2008, along with the LLP (Winding up and Dissolution) Rules, 2010. The second response highlighted that voluntary winding up requires a resolution approved by at least three-fourths of the partners and, if applicable, creditor approval. It concluded that winding up the LLP unilaterally is not possible.