LLP Closure - Compliance India

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Closure of LLP

An LLP can be closed, if it has not commenced business or is not engaged in the activity of business for the last 1 year. The closure application needs to be filed with the mutual consent of all the partners of the firm.

The Ministry of Corporate Affairs has recently amended Limited Liability Partnership Rules, 2009 by introducing the Limited Liability Partnership (Amendment) Rules, 2017 with effect from 20^th May, 2017. With this amendment, LLP Form 24 has been introduced by the MCA and it is now possible to easily winding up of LLP by making an application to the Registrar for striking off name of LLP.

ComplianceIndia can help you with the simplest way to Strike of the LLP.

Reasons for Closure of the LLP

The LLP can be closed which could not commence its business operations within one year of its incorporation. Meaning thereby there is absolutely no transaction in the LLP.
There is no assets or liabilities in the LLP. All bank A/c must be closed, and the financial Statement of assets and liabilities of the LLP certified as true and correct by auditor/ chartered accountant in practice.
There should not be any litigation or tax assessment pending for the LLP with any other Authorities.
A LLP can be closed even when the LLP started its business but has been inoperative for the past one financial years.
To avoid fines and penalty for late filing, it is better to strike off LLP’s which are inactive.

How we Work?

Step 1

Fill-up our Contact Form and Submit

Step 2

Our Expert/ Legal Professional will contact you and provide brief guidance into the related context

Step 3

All Required Documents and Details to be provided as discussed with our Expert

Step 4

Once all required documents and details are received, Our Expert will prepare and verify your documents.

Step 5

Filing of E-Form 24LLP with Authority of Ministry of Corporate Affairs.

Step 6

Follow up with the authority and resolve the queries, if any.

Step 7

On Successful verification of the documents submitted in E-form 24LLP, the LLP will be Struck off from the Registrar of Companies.

Documents Required for Closure of the LLP

Application for closure to ROC

Application for Closure of LLP to ROC as per Rule 37(1)(b) of the Limited Liability Partnership Rules, 2009

Authorization Letter

Authorization to one of the Designated Partner to make application to Strike Off the Name of the LLP to ROC on behalf of the LLP

Consent of all Partners

Consent of all Designated Partners/ Partners to apply to ROC for Striking Off the LLP

Consent of all Creditors

Consent of all Creditors for closure of LLP

Indemnity bond and Affidavit of all Designated Partners

Copy of the undertaking/ indemnity bond and Affidavit signed by all Designated Partners for striking off name

Statement of Assets and Liabilities

Authorization to one of the Designated Partner to make application to Strike Off the Name of the LLP to ROC on behalf of the LLP

Resolution for LLP Closure

Resolution regarding closure of LLP which is passed in a meeting by the LLP Partners

Bank Account Closure Proof

A copy of Bank Account closure letter certified by the authorised person/ manager of the concerned Bank

Latest Income-tax filing

A copy of Acknowledgement of Income-tax filing of the latest financial year.

Identity and Address proof

Self-certified copy of PAN and Aadhaar card of all Designated Partners.

Challan of Annual filing of latest Financial Year

A copy of Challan of Annual Filing of latest Financial Year, i.e. E-Form 8 and 11 and also Challan of E-form 3LLP for filing LLP Agreement

Digital Signature Certificate (DSC)

Digital Signature Certificate of one of authorised Designated Partner of the LLP to be provided for filing E-form 24LLP

Our charges

Our charges for filing of LLP Closure starts from Rs. 1,999/-.

Frequently Asked Questions

1. Who can wind up or close down a Limited Liability Partnership?

The LLP winding up process can be done by either the LLP’s 3/4th of the total number of partners or the Registrar of Companies (ROC) in case the particular LLP is convicted of being associated with any illegal or fraudulent instance.

2. Is it mandatory to have the consent of all the partners to close an LLP?

Yes. Consent of all the partners is required to file the application for closure an LLP.

3. What is the utilization of the Form-24 in the LLP winding up process?

E-Form 24 is used for making an application to the Registrar of Companies for striking off the name of the LLP.

4. What is the easiest way of closure of LLP in India?

The name of Limited Liability Partnership can be applied for strike off by way of declaring it as defunct for a period of one year or more. This is the easiest way to close the LLP as there is no involvement or requirement of the Liquidator or Tribunal.

5. Which LLP can make an application to strike off its name from Register of Companies (LLP)?

The LLP which has not commenced any business under its name since its incorporation or the LLP which has ceased to operate can make an application under this route. In both cases, a period of one year shall be passed since the incorporation.

6. Can I proceed for strike off LLP in India if the LLP has assets and liabilities in its books of accounts?

The Limited Liability Partnership requires to first close its books of accounts after distribution of assets and payment of the liabilities. The statement shall be duly certified by the chartered accountant in practice. The care should be taken that the application of striking off of the LLP shall be made within 30 days from the date of the statement prepared.

7. In case of closure of defunct LLP, who has to sign the application?

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