Close down a Limited Liability Partnership (LLP) without hassles

If an LLP has become inactive or dormant, it can be wound up to avoid annual compliance formalities and penalty for non-compliance.

Great Solution can help you liquidate your LLP in a quick and hassle-free manner.

simple & transparent pricing

Basic

All inclusive of government fees

₹ 10999/-

  • Closing of Limited  Liability  Partnership having Two Directors

Economical

All inclusive of government fees

₹11999/-

  • Closing of Limited  Liability  Partnership having Three Directors.

Money Saver

All inclusive of government fees

₹13999/-

  • Closing of Limited  Liability  Partnership having Four Directors

How to Close an LLP

 If an LLP is not carrying on any business operations for the period of one year or more, closure of an LLP can be initiated voluntarily. Towards this end, the LLP must pass a resolution in favour of closure with the approval of at least three-fourths of the total number of Partners. In case there are secured or unsecured loans on LLP, the approval of the lenders is also a must for its winding up.

The liquidation process of LLP

Voluntary Wrapping up

To begin the process for closure, a resolution must be passed declaring the LLP as defunct, and filed with the Registrar of Companies (RoC), requesting for removal of the name of the LLP from RoC register. The liquidation process shall be deemed to commence from the date of passing of resolution for winding up a company voluntarily and filing up eForm 24 for striking off the name of LLP under clause (b) of sub rule 1 of Rule 37 of LLP Rules 2008.  

An LLP can also be dissolved with the approval of 3/4th of the Partners. For this, a greater part of the designated partners will have to make a declaration that the LLP has no debts or that it can pay all its debts in full within a period of not more than one year from the start of liquidation. Further, the Partners must undertake that the LLP is not being wound up with an intention to deceive any person or institution. This declaration must be accompanied by a statement of assets and liabilities until the most recent practicable date right before making the winding up resolution.

The process for winding up a LLP is no longer cumbersome; with the introduction of LLP Form 24, it has been made easy and simple.  The Ministry of Corporate Affairs (MCA) has introduced the Limited Liability Partnership (Amendment) Rules, 2017 with effect from 20th May, 2017. This amendment makes it possible to easily close a LLP by applying to the RoC for striking off the name of LLP.

Winding up by RoC

RoC has the power to strike off any defunct LLP after satisfying himself of the need to do so. In this case, the registrar has to send a notice to the LLP announcing his intention to do so and asking it to send their representation within one month from the date of the notice. As per the procedure, such notice or content of the application made by the LLP shall be published on the RoC website for a period of one month for the information of the general public. If the concerned LLP files no reply to the notice within the mentioned period, the RoC can, on its own, strike off the name of LLP.

Wrapping up by a Tribunal

An LLP can be shut down by a Tribunal due to the following reason/s:

  • The LLP volunteers to be wound up.
  • There are less than two Partners in the LLP for a period of more than 6 months.
  • The LLP is not in a position to fulfil its loan obligations.
  • The LLP is running in contravention of the interests of the sovereignty and integrity of India, the security of State or public order.
  • The LLP has not filed with the RoC Statement of Accounts and Solvency or LLP Annual Returns for any five consecutive financial years.
  • The Tribunal is of the opinion that it is just and equitable that the LLP should be wound up.

Why Great Solution

No more compliances

We will help you close down your LLP if it is not active. This way, you will avoid compliance responsibilities that as a legal entity and a juristic person, you are required to maintain as long as you are into operation.

No more fines

Winding up your inactive LLP will help you avoid fines and penalty that you will attract if you do not maintain procedural compliances on time. Legal liquidation will also prevent possible debarment of the Partners from starting another LLP or Company in the event of defaulting on compliances.

Ease and smooth process

We will provide you with a relatively simple and easy to complete ways to wind up your dormant LLP. The MCA too has simplified the process for liquidation of an LLP. You will sail seamlessly through the entire process.

Save on costs

We will help you wind up your LLP at low costs. It will be far lower than the penalty that a non-compliant LLP could attract for failing to maintain mandatory filings every year.

Easy Process

The MCA has taken various initiatives to simplify the process for liquidation or winding up of LLP. We will let you close down your business without going through any complex procedural requirements.

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Contact Information

+91 96547 28811

Head Office
Great Solution,126 Hari Nagar, Ashram,
Near Ashirward Hospital, New Delhi 110014
info@greatsolution.in

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