In case you want your LLP closure, an application to the registrar of companies in e-form 24. This form is for declaring the status of the LLP defunct and removing the name of the LLP from its register of LLP. If your business is not running since incorporation or in past 1 year, you can file the form
Closing of LLP can only be possible if the LLP has done its LLP annual compliances. Although it is not mandatory if no business done since incorporation. Before striking off LLP, closure of the existing current account of the LLP is mandatory.
LLP strike-off applications must have mandatory attachments of an affidavit and indemnity bond. ROC post satisfaction will publish LLP in the journal for public comments. Authority will allow it if there is no public opposition to the closure of LLP.
Advantages of closing LLP
After filing the LLP closure application, there is no need to do further LLP compliances.
After allowing the application for LLP closing, there will not be any penalties. No LLP compliances and penalties levied.
If the LLP business is not running well, then a new business could be set up and time invested.
Documentation for LLP closure
Latest financial statements
Statement of Accounts containing assets & liabilities of the Company
Bank Account Closure Certificates.
PAN Card of the Company.
Board resolution for closure
Acknowledgement of latest IT returns filed
Consent of all the partners
Consent of all the creditors.
The above price might vary as per the deed and amount of contribution
Trademark filing excludes government fees
Process involved in registering a Closing LLP
Eligibility for Strike Off
Eligibility for Strike Off
Requirements for striking off LLP
- The LLP apply for closure should not have any asset and liability at the time of closure.
- The LLP should not have commenced any business activity or operation since incorporation or at least one year must has been passed since last business activity or operation.
- The LLP has duly filed all the financials to the authority, till the time of its closure.
FAQs About closing a LLP
Is ROC filing mandatory before company strike off application?
Yes, it is mandatory to file LLP compliances before filing an LLP closure application.
What is the basic Eligibility criteria for closing a LLP?
The LLP must be at least one year old. Before filing an LLP strike-off application you have to complete annual ROC compliances. A gap of at least one year is to be there since the last business in LLP.
Which form is filed for LLP closure application?
Applicant needs to file E-form 24 with the Registrar of Companies for closing the LLP.
What are the reasons for closing an LLP?
If declared insolvent.
Partners are not willing to run the business.
If not active for a period of one year.
Issuance of order by the court to close the LLP.
What is the time limit to file the closure documents with registrar?
The closing document has to be filed within 30 days from the date of signing of the assets and liabilities statement.
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