LLP Closure
The LLP which is not carrying on any business operation since incorporation or ceases to carry on the business for a period of one year or more can apply with the ROC to strike off the name of the LLP.
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LLP Closure
The LLP which is not carrying on any business operation since incorporation or ceases to carry on the business for a period of one year or more can apply with the ROC to strike off the name of the LLP. There could be several reasons for the closure of LLP which can range from voluntary winding up to compulsory winding up.
Preliminary Requirement :-
- All the outstanding liabilities of the LLP are to be paid off.
- All the bank accounts of the LLP are to be closed together
- All due Returns in Form 8 and Form 11 up to the end of the financial year in which the limited liability partnership ceased to carry on its business has been filed.
- Also the latest income tax return should be filed before applying for closure of the LLP.
Procedure for LLP Closure :-
Pass an ordinary resolution in Board of Designated Partner/partners meeting.
There should be no business activity from the day when resolution is passed
There is no business Activity for one year
Declaration by designated partner/partner stating there is no debt pending on company and the required forms are filed
File a statement of Account
Filing of form 24 on MCA V3 along with necessary attachment