Winding up an LLP in India requires a systematic legal process governed by the Limited Liability Partnership Act, 2008. Whether due to business closure, insolvency, or other reasons, LLPs must follow regulatory compliance, including filing an application with partner consent, IT returns, and a statement of accounts. At Avyud Consultancy, we simplify the winding-up process with expert legal assistance, ensuring seamless documentation, statutory compliance, and hassle-free closure. Our experienced professionals handle procedural formalities efficiently, saving you time and effort. Trust Avyud Consultancy for a smooth LLP dissolution with complete legal accuracy. Contact us today!
Winding up of LLP Services in Purnea, Bihar
Contact Us for Winding up of LLP Services in Purnea
How to Close LLP
A Limited Liability Partnership can be closed down by declaring the LLP as defunct. 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.
Procedure of A Members’ Voluntary Winding Up
The following procedure should be adopted in case of Members
- Procedure for A Members’ Voluntary Winding Up
- Holding of the General Meeting
- Appointment of Liquidators
- Notice to the Registrar
- Powers of the Board etc.
- Reconstruction in Winding up
- Holding of the General Meeting at the end of the First Year
- Final Meeting of the Members
- Notice to the Registrar and Official Liquidator
- Report of the Official Liquidator to the National Company Law Tribunal
- Duty to Call for the Creditors’ Meeting
- Provisions as to Annual and Final Meeting in case of Insolvency
Procedure for winding up of LLP
File E-Form 24 with the RoC along with the following documents:
- Copy of detailed application.
- Copy of authority to make the application.
- Copy of consent of all the partners
- Copy of consent of all the creditors
- Copy of affidavit for each of the designated partners
- Copy of the undertaking/ indemnity bond for striking off the name
- Statement of assets and liabilities duly certified as true and correct by auditor/chartered accountant in practice
- Copy of acknowledgment of latest Income tax return
- Attested (by CA) copies of PAN and address proof of all designated partners/partners
- A paragraph of the reason for which the LLP is proposed to be shut down
Once all the documents are executed, the same are filed with the Registrar in e-form 24. The Registrar will keep the application open for a period of one month to check if there are any objections and once it is satisfied, an order will be issued to strike off the name of the LLP from its records and complete the process.
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FAQs for Winding up of LLP Services
What are The Option for Close an LLP?
- Declaring the LLP as Defunct
- Winding up of LLP
What is The Procedure of LLP Strike-Off?
- The process of dissolving LLP is:
- Applicant has to file LLP Form 24 online with MCA along with required documents.
- NOC has to be obtained from the regulatory authority governing the LLP. SEBI or RBI.
- The Registrar shall publish the contents of the application filed by the LLP on his website for a period of one month for the information of the general public and shall receive representations thereon.
- On the expiry of the period specified above, where no reply or representation is received, the Registrar may, on satisfying himself for sufficient cause for winding up the LLP, pass an order to remove the name of the LLP from the register. limited liability partnership.
When is LLP Declared as Defunct?
If the LLP company has not been operating for a one year, then it can be declared as defunct. In this case, form 24 should be filed for closure of LLP.
What is The Procedure of LLP Strike-Off?
The process of dissolving LLP is:
- The applicant has to file LLP Form 24 online with MCA along with the required documents.
- NOC has to be obtained from the regulatory authority governing the LLP. SEBI or RBI.
- The Registrar shall publish the contents of the application filed by the LLP on his website for a period of one month for the information of the general public and shall receive representations thereon.
- On the expiry of the period specified above, where no reply or representation is received, the Registrar may, on satisfying himself for sufficient cause for winding up the LLP, pass an order to remove the name of the LLP from the register. limited liability partnership.
How-to Wind-up LLP?
In order to initiate the process of winding up the LLP a resolution for winding up, the LLP should be passed and the resolution for the same should be filed with the Registrar within 30 days of passing. The date of passing of the resolution for winding up of LLP shall be deemed to have commenced on the date of voluntary winding up.
Can Foreigners Incorporate LLP?
Yes, the LLP Act 2008 allows foreign nationals including foreign companies and LLPs to incorporate LLP in India provided at least one designated partner is a resident of India. However, the LLP/Partners will have to comply with all relevant foreign exchange laws/rules/regulations/guidelines.
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