Winding Up of LLP (Sections 60-65): Termination process upon dissolution. Modes: Voluntary (member consent), compulsory (Tribunal order for fraud/illegality). Procedure: Appoint liquidator, realize assets, pay liabilities, distribute remainder to members. Member liability during winding: Members liable for pre-winding debts; personal liability ceases post-incorporation unless statutory breach. Creditor protection: Winding up protects creditors by ensuring systematic asset realization. For accountants, winding up procedures affect financial statement presentation and member distributions.