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What is Closing a Limited Liability Partnership (LLP)

Limited Liability Partnership as the name suggests it provides limited liability for the partners who are part of the incorporation. In Limited Liability Partnership registration the partners can enjoy the two fold benefits of liability isolation and as well as to reap the benefits of the business agreement that was proposed during incorporation between the partners. Which provides the best of two worlds for the people who are looking for the above benefits. The main reason why people choose to go with Limited Liability Partnership is that it is a flexible incorporation where the actual partners doesn’t need to face the consequences or mistakes made by any other partners involved. This separate legal entity scenario provides partners with advantage of partnership deed along with the company benefits into one set form.

In case the Limited Liability Partnership (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.

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 for declaring the LLP as defunct and removing the name of the LLP from its register of LLP’s.

At Unilex Consultants we provide you a hassle free closure process which would be dealt by our professionals within a time frame of 30-40 working days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Advantages of closing a LLP


Compliance Free

There is no need of sticking on the track to stay compliant as the company would be dissolved anyway.

No Penalty

Once the closure is initiated there is no need of the company to be worried about being in a state to pay the penalty fee for the unaddressed causes.

Appropriate Business

If the business which you have chosen is not running and generating profits, then resources can be utilized into a better one.

Documents Required for LLP Closure


Acknowledgement of latest IT returns filed

Latest financial statements

Statement of Accounts containing assets & liabilities of the Company

Consent of all the partners.

Bank Account Closure Certificates.

PAN Card of the Company.

Board resolution for closure

Consent of all the creditors.

Call Us at : 0120-4134791

OR


PACKAGES


Basic

6999/-
Inclusive all taxes

Drafting affidavits and supporting documents
Drafting Application
Statements of assets & liabilities

Premium

10999/-
Inclusive all taxes

Drafting affidavits and supporting documents
Drafting Application
Statements of assets & liabilities
Department follow up
Surrender of PAN
Surrender of TDS
Surrender of GST

Standard

8999/-
Inclusive all taxes

Drafting affidavits and supporting documents
Drafting Application
Statements of assets & liabilities
Department follow up
Surrender of PAN

Procedure to close a LLP

1

Eligibility for Strike Off

Our experts will determine, whether it is eligible for winding up under the Strike off Mode or not, this review process would get completed in 1 – 2 working days.
2

Document Preparation

Our team will prepare the necessary documents and get them notarized as required under the provisions for strike off Mode which will take approx 5-7 days.
3

Application Submission

Strike off application along with the necessary documents are submitted to the MCA, which is usually approved in about 35-40 days, subject to processing time.

Eligibility criteria for closing a 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.

FAQ’s About Closing a Limited Liability Partnership (LLP)

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    Chairman and Managing Director, Navnit Group of
    Companies, Mumbai

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    Managing Director, Sudhir Life Sciences Pvt. Ltd.
    Indore

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