LLP Winding Up - Fast Filing with MCA

Winding up of LLP Services in Purnea, Bihar

Limited Liability Partnership (LLP), a legal form available worldwide, is now introduced in India and is governed by the Limited Liability Partnership Act 2008, with effect from April 1, 2009, LLP is a corporate business vehicle that provides both the benefits of a company and partnership firm i.e. limited liability and allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement.

Firstly you have to submit the application with the required fee and affidavit with the consent of all the partners of the LLP. Also, for winding up an LLP, you need to submit an IT return and statement of accounts from the date of application. At Avyud Consultancy, we execute legal assignments every month for multiple companies and LLPs by leveraging our technical capabilities and the expertise of our team of legal professionals.

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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