Legal Dev | Closing / Winding Up LLP Company Service in India

Closing a Limited Liability Partnership (LLP)

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.

In the case of winding up the LLP all the assets of the business are disposed of to meet the liabilities of the same and surplus any, is distributed among the owners. The LLP Act 2008 provides for following two modes for winding up the LLP i.e.: Voluntary Winding up - Under this, the partners may between themselves decide to stop and wound up the operations of the LLP.

And Compulsory Winding up - A limited liability partnership may be compulsorily wound up by the Tribunal, —

  • if the limited liability partnership decides that limited liability partnership be wound up by the Tribunal;
  • if, for a period of more than six months, the number of partners of the limited liability partnership is reduced below two;
  • if the limited liability partnership is unable to pay its debts;
  • if the limited liability partnership has acted against the interests of the sovereignty and integrity of India, the security of the State or public order;
  • if the limited liability partnership has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years; or
  • if the Tribunal is of the opinion that it is just and equitable that the limited liability partnership be wound up.
Closing LLP

Documents Required For close LLP

  • Latest Financial Statements

  • Latest Bank Statement

  • Signatures on Some Documents and Affidavits provided by us.

Let's Clear All The Doubts !

FAQ
  • What are the two ways to close an LLP?

    There are two ways to close a LLP: 1) Declaring the LLP as Defunct-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. 2) Winding up of LLP-It is the process where all the assets of the business are disposed of to meet the liabilities of the same and surplus any, is distributed among the owners. The LLP Act 2008 provides for following two modes for winding up the LLP i.e.: ◦ Voluntary winding up ◦ Compulsory winding up

  • What is compulsory winding up of LLP?

    A limited liability partnership may be compulsorily wound up by the Tribunal, — ◦ if the limited liability partnership decides that limited liability partnership be wound up by the Tribunal; if, for a period of more than six months, the number of partners of the limited liability partnership is reduced below two; if the limited liability partnership is unable to pay its debts; ◦ if the limited liability partnership has acted against the interests of the sovereignty and integrity of India, the security of the State or public order; ◦ if the limited liability partnership has made a default in filing with the Registrar the Statement of Account and Solvency or annual return for any five consecutive financial years; or ◦ if the Tribunal is of the opinion that it is just and equitable that the limited liability partnership be wound up.

  • Within how many days one has to file the closure documents with ROC?

    The Form has to filled be filed with ROC office within 30 days from the date of Signing of the Statement of Assets and Liabilities.

  • Is ROC filing is required for closing an LLP?

    "Yes, it is necessary to file Closure with the ROC as ROC or MCA data base need to be updated and the LLP is free from all its legal compliances as it is officially closed. Even though business of the company is closed, unless closure documents are filed and approved by the ROC, company is not legally closed and the LLP needs to file all the regular returns."

  • Is there any fast and easy way to close an LLP?

    Under Fast Track Exit Scheme initiated by MCA one can easily close an LLP.

Popular Services

Private Limited Company Registration | Partnership Firm Registration | One Person Company Registration | USA Company Registration | Nidhi Company Registration | NBFC Company Registration | Public Limited Company Registration | Trust Registration | Proprietorship Firm Registration | Chit Fund Company Registration | Startup India Registration | GST Registration | MSME-Registration.aspx | FSSAI Registration | ESI Registration | GST Registration Cancellation | RERA Registration | Accounting & Bookkeeping | Annual Filing with ROC | Business Tax Filing | Company Annual Filing | Income Tax Return | Trademark Copyright Registration | Permanent Patent | Trademark Renewal | Close One Person Company | Convert LLP to Private Limited Company | Convert Private Limited Company to LLP | Convert Sole Proprietorship to Partnership | Dissolve Partnership |

Popular Searches

Agriculture Income | Business Tax Filing | Private Limited Company Registration | One Person Private Limited Company Registration | Partnership Firm Registration | LLP Registration | USA Company Registration | Indian Subsidiary | Micro Finance Company Registration | Digital Signature Certificate | Tan Registration | Drug License Registration | Property Registration | Property Verification | Website Privacy Policy | Addition of Director | Change in Director | Directors Remuneration Income | Income Tax Return Filing for Companies | Trademark Objection | ISO 9001 2015 Quality Management System | Halal Certification | WHO GMP Certification | GDP Certification | CE Mark Certification | ISO 45001:2018 Certificate | ISO 22000 Certification | ISO 27001:2013 (Information Security Management System) | Current Account Opening | HACCP Certification | Loan |