LLP Closure

Close down the LLP

WHAT IS LLP STRIKE OFF

LLP strike off is a process where all the assets of the business are disposed off to meet the liabilities of the same and surplus any, is distributed among the owners

MODES OF LLP STRIKE OFF

1) Voluntary winding up

2) Compulsory winding up

Compulsory winding up

Under mandatory striking off, the ROC shall send a notice to the LLP of his intention to strike off the name of the LLP from the register and requesting them to send their representations within a period of one month from the date of the notice in the case the LLP is not carrying on any business for a period of two preceding years. Here it is important to note that the ROC shall have reasonable cause to believe that the LLP is not doing any business in case Form 8 and Form 11 are not filed for previous two years

Voluntary winding up

Under voluntarily striking off of LLP, the LLP may make an application in e-Form 24 to the Registrar with the consent of all the partners of the LLP for striking off its name from the register.

PROCEDURE TO STRIKE OFF VOLUNTARY

CALLING OF BOARD MEETING: LLP will call the Meeting of Partners/ Designated Partners to pass a resolution for the purpose of Strike off of LLP and to authorize any Designated Partner of the LLP to file application with Registrar of Companies.


EXTINGUISHMENT OF THE LIABILITIES: After passing of resolution if there are any liabilities in the LLP. LLP will set off all the liabilities before next step.

APPLICATION TO ROC BY LLP: 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 with following below mentioned documents.
  • Statement of Accounts certified by CA. Statement should not be older than 30 days from the date of application.
  • Copy of acknowledgement of latest Income tax return- Self Explanatory
  • copy of the initial limited liability partnership agreement, if entered into and not filed, along with changes thereof
  • Bank Account Closure Certificate
  • Copy of Resolution of LLP
  • Affidavit verifying no Creditors or Liability
  • Indemnity Bond
  • an affidavit signed by the designated partners, either jointly or severally
  • Copy of Detailed Application- Mention full details of LLP plus reasons for closure
  • Copy of Authority to Make the Application- Duly signed by all the Partners
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FAQS

When LLP is not carrying on any business for a period of two preceding years ROC can initiate the procedure to strike it off. Here it is important to note that the ROC shall have reasonable cause to believe that the LLP is not doing any business in case Form 8 and Form 11 are not filed for previous two year

YES, consent of all the partners of the LLP is required for striking off its name from the register

Under voluntarily striking off of LLP, the LLP may make an application in e-Form 24 to the Registrar with the consent of all the partners of the LLP for striking off its name from the register.

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