Close Limited Liability Partnership

Close Limited Liability Partnership

Close Limited Liability Partnership

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What is 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?

Close Limited Liability Partnership

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 its 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.

Our Packages

Close LLP with Form 24
₹ 11800
  • Package Includes
  • Form 24
  • Document Preparation
  • Income Tax NOC
Close LLP with Compliance
₹ 23600
  • Package Includes
  • Form 24
  • Document Preparation
  • Form 8 and Form 11
  • Penalty for Late filing EXTRA
  • Income Tax NOC
Fast Track Closure
₹ 17700
  • Package Includes
  • Form 24
  • Document Preparation
  • Income Tax NOC
  • Fast Track Service

Documents Required for Close Limited Liability Partnership

  • Affidavit from all partners declaring that they are the designated partners of LLP and they are not disqualified under the act
  • Application to ROC for Closure
  • Consent of Creditors for the closure
  • Indemnity bond for pending tax dues
  • Statement of Accounts showing no balances left in llp
  • Application stating closure of Bank Account
  • Resolution passed by partners in meeting for closure of LLP
  • Consent of partners for closure of LLP

Process Involved

Step 1

1

Partners Meeting

Step 2

2

Preparation of Documents

Step 3

3

Filing of forms

Step 4

4

Tax Dues

Step 5

5

Approval of Forms

Step 6

6

Name Strike Off

FAQ'S