Winding up LLP is the process in that case your LLP is not carrying any business operations for a period of one year or more for that if you want to close its business, then the procedure for closure of llp happens. An application can be made to the Registration for declaring the LLP as defunct and removing the name of the LLP from its register of trademark. In some other way if partners decided between themselves to wind up the operations of the business. In compulsory winding up an LLP may be compulsorily wound up by the order of the tribunal. There are certain circumstances for the LLP compulsory winding up. Eg. when An LLP is unable to pay off its debts, where the number of partners of the limited liability partnership is reduced below two and it continues for the period of more than six months. Then its required the process for winding up of an LLP, a resolution for winding up of LLP must be passed and filed with the Registrar within 30 days of passing of the resolution. On the date of passing of a resolution of winding up of LLP, the voluntary winding up shall be deemed to commence. Filing Buzz.com can help you in Closing a llp quickly and easily.
Services Included In Our Package for closing a LLP?
- Directors affidavit for dues
- Indemnity bond
- Board resolutions creation
- Statement of account preparation
- Registration Fees
Reasons For closure of LLP
- LLP wants to be wind up.
- Avoid Compliance responsibilities
- If there are less than two partners in LLP for a period of more than 6 months.
- If LLP is not in a position to pay its debts.
- If LLP has not filed with the registrar, the statement of Accounts and solvency or annual returns of LLP for any 5 consecutive financial years.
- If the Tribunal is of the option that it is just and equitable that the LLP should be wound up.
Procedure For Closing a Limited Liability Partnership.
- Step-1 You need to submit indemnity bonds and an affidavit stating that the information is true to the knowledge of all the partners along with the main application. Then Our experts will file form 24 with the ROC along with the declaration from the partners. (4 working days)
- Step-2 After completing the first steps, the Registrar will publish a notice on its website containing the substance of the application for a period of one month. (30 days)
- Step-3 After 30 days, the registrar will remove your LLP name from the register and publish a notice in the Official Gazette, thereby legally closing/dissolving the LLP.(10 days)
- Step-4 We shall then, send your documents to you via Courier.
- Step-5 And at the Lastly, You can now legally close your LLP firm.