Closure of LLP

Strike off.

Get everything relating to partnership, RIP.

Benefits

Multiple gains.

  • To avoid compliance and filing responsibilities for the LLP’s which are not active.
  • To avoid fines and penalty for late filing, it is better to officially Wind Up LLP’s which are inactive.
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Procedure

Collection of information. Submission. Approval.

  • Arranging the Documents
  • Close the bank account if available and arrange to provide closure certificate.
  • To Get NIL statement of accounts from CA & prepare documents as required to be attached for filing.
  • To Filing of LLP Form 24 within 30 days from date for which the NIL statement is givenby the CA.
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Documents required

The books of accounts and company documents

  • PAN Card
  • LLP Agreement along with any modifications made therein
  • Address Proof of firm
  • Accounting Information
  • NOC from Creditors
  • Statement of assets and liabilities of the LLP certified as true and correct by auditor/chartered accountant in practice.
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FAQs

No, one year must have lapsed before closing a LLP voluntarily.

No, all overdue returns in Form 8 and Form 11 up to the end of the financial year in which limited liability partnership ceased to carry on its business is required to be completed.

Any LLP which  has ceased to operate  / one which has not commenced business since incorporation can apply for strike off. In either case,  period of one year from the date of incorporation shall be required.

Yes, required Form for strike off is expected to be filed within 30 days from the date .

You have to  wait for a period of one year from the date of the last transaction becoming opting for the standard LLP closure procedure.

Yes, LLP which has not carried on any operation since incorporation is not required to fulfil the criteria of one year.

No,  liquidator is not required, and there is no need to make an application to Tribunal while closing an LLP in India.

Form 24 LLP is required to be filed to close LLP.

make an application for the surrender of the PAN card.

The procedure to dissolve LLP is :

1)The applicant needs to file online LLP form 24 with MCA, with the required documents.

2)NOC has to be obtained from the regulatory authority governing the LLP e.g. SEBI or RBI.

3)The registrar shall publish the content of the application filed by the LLP on its website for a period of One Month for information to the general public and receive the representation on the same.

4)Upon expiry of the period specified above, where no reply or representation is received, the Registrar on satisfying himself for sufficient cause for the closure of the LLP may pass an order to strike-off the name of the LLP from the Register of the Limited Liability Partnership.

The procedure of striking off requires the filing of the prescribed form along with the documents as listed in the next FAQ. The Registrar shall further file publish the application of striking off on the website of MCA for a period of 1 month for receiving any representation from the general public. The application once approved will affect the change of status of LLP as “Stuck off (defunct)” in the register and master data of LLP.

The business carried under Limited Liability Partnership organization can be closed at the will of Partners by any of the following ways:

Declare LLP as defunct; or

Voluntary winding-up of the LLP; or

Compulsory winding-up of the LLP (initiated by Tribunal)

The name of Limited Liability Partnership can be applied for strike off by way of declaring it as defunct for a period of one year or more. This is the easiest way to close the LLP as there is no involvement or requirement of the Liquidator or Tribunal. To choose this mode, few conditions are required to be fulfilled (prescribed below).

The LLP which has not commenced any business under its name since its incorporation or the LLP which has ceased to operate can make an application under this route. In both cases, a period of one year shall be passed since the incorporation.

No, the appointment of a liquidator or an application before Tribunal is not required to be made. The appointment of a liquidator is applicable in case of Dissolution of the LLP through voluntary or compulsory winding up only.

The Limited Liability Partnership requires to first close its books of accounts after distribution of assets and payment of the liabilities. The statement shall be duly certified by the chartered accountant in practice. The care should be taken that the application of striking off of the LLP shall be made within 30 days from the date of the statement prepared.

If the Limited Liability Partnership is yet operative, the Partners shall wait for a period of one year to be completed since the last transaction in the name of LLP to opt for this method of closure of LLP. However, if Partners do not wish to continue LLP for a longer period, they can alternatively opt the winding-up procedure with the help of Liquidator

Yes, application of the surrender of PAN Card is required to be made. This service is not included in our package.

The payment of stamp duty and notary on the affidavit and indemnity bond will be required to be completed by the client form their concerned state or city.

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