Contact

LLP Closure

Get professional advice from our experts to close your inactive/inoperative Limited Liability Partnership (LLP).

FILE NOW...
LlpClosure
LlpClosure
Easy & Hassle Free Online Process
LlpClosure
Advisory Session From Experts
LlpClosure
Dedicated Expert & Account Manager

What is Limited Liability Partnership (LLP) Closure?

When the things do not work out properly a business may have to be shut down. When existence of the LLP as a legal entity comes to an end it is known as the Closure of the LLP. A business may be required to be closed due to various reasons, like non-operation, closure of business, recurring losses, the passing of the key managerial person, the dispute among promoters, un-ability to pay debts of the LLP, etc.

What are the reasons to close the LLP?

A business may be required to be closed due to various reasons, like non-operation, closure of business, recurring losses, the passing of the key managerial person, If the LLP is Registered for any specified project and it has been completed, the dispute among promoters, un-ability to pay debts of the LLP, etc.

When we can apply for LLP closure?

In case the LLP wants to close down its business or where it is not carrying on any business operations for the period of one year or more, it can make an application to the Registrar of Companies for declaring the company as defunct and removing the name of the LLP from its register of LLP’s. As per Rule 37 of LLP Rules if a LLP wants to strike off it should not carrying on any business operations for the period of one year or more.

Which form is required to be filed with ROC for making application under fast track exit mode?

An application is required to be made in e-Form 24 to the Registrar of Companies for Striking off the name of the LLP under Rule 37(1)(b) and 37(1A) of LLP Rules.

Documents Required For Limited Liability Partnership (LLP) Closure:-

  • Id Proof and Address Proof;
  • Copy of latest Income Tax Return
  • Authority Letter signed by each designated partner.
  • Copy of Affidavit and Indemnity Bond signed by the designated partners;
  • Statement of account disclosing nil assets and nil liabilities;
  • Copy of the initial limited liability partnership agreement;
  • Consent by each partner to make application;
  • Bank Account closure certificate

Process Involved

  • STEP-1

Close the Bank Account of the LLP

  • STEP-2

Sell all the assets, if any and pay off all the liabilities of the LLP, if any

  • STEP-3

Take the written consent of all partners for strike off the LLP

  • STEP-4

Drafting of all the requisite documents for closure of LLP

  • STEP-5

Filing of form 24 with the Registrar.

LlpClosure
GET IN TOUCH

Get Expert’s recommendation about whether or not it is the right time for you to expand on your own?

With just one phone call, our professionals will discuss all of your needs.

CONTACT US NOW

FAQs

A defunct LLP can make an application to the Registrar with the consent of all partners of the LLP for striking off its name from the register. A defunct LLP refers to an LLP that has never started business or is not carrying any business for the immediate past one year and has no assets and liabilities.

Following LLP are eligible to Close their LLP:-
1 LLP is inoperative from the date of incorporation or inactive for a period of at least one year
2 LLP does not have any assets / liabilities as on the date of application.
3 Closure of current account of the LLP has been done
4 LLP Obtain the consent of the parties i.e. any other authority, creditors and partners.

Following Documents required for closing the LLP :-
  • Id Proof and Address Proof;
  • Statement of account disclosing nil assets and nil liabilities;
  • Copy of latest Income Tax Return
  • Copy of the initial limited liability partnership agreement;
  • Copy of Affidavit and Indemnity Bond signed by the designated partners;
  • Consent by each partner to make application;
  • Authority Letter signed by each designated partner.
  • Bank Account closure certificate

No, The LLP can be closed if the LLP is inoperative from the date of incorporation or inactive for a period of at least one year immediately preceding the filing of the application.

Other Business Services

Proprietorship Registration
Learn More
Import Export Code IEC
Learn More
Private Limited Company Registration
Learn More

Copyright © 2023 Vaims Solutions Pvt. Ltd. All Rights Reserved