Section 38 in The Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
38. Application of assets.
- Assets of the LLP shall be applied first for the payment of the cost including expenses, charges or fees and remuneration of the Liquidator incurred in the winding up of the LLP and thereafter be applied for the discharge of its liabilities pari passu in accordance with the provisions of the Act and the rules.
