Section 786

Where a limited liability partnership is liable to be wound up under this Act or any other law for the time being in force, it appears to the Commission from a report under section 781 that it is expedient to do so, the Commission may, unless the limited liability partnership is already being wound up by the court, cause to be presented to the court by any person authorised by the Commission in that behalf, a petition for the winding up of the limited liability partnership on the ground that it is just and equitable that it should be wound up.