Winding up of LLP

Section 63, 64 and 65 of LLP Act 2008 governs the process for winding up of the LLP It is the process where all the assets of the business are disposed off to meet the liabilities and if surplus any is distributed among the partners.

The LLP Act 2008 provides for following two modes for winding up the LLP i.e.

Voluntary winding up

Under this, the partners may between themselves decide to stop and wound up the operations of the LLP.

Compulsory winding up

A limited liability partnership may be compulsorily wound up by the Tribunal, it can be because of various reasons-:

  1. The LLP wants to be wound up .
  2. There are less than two partners for a period of more than 6 months.
  3. The LLP is not in a position to pay Debts.
  4. The LLP has not filed with the Registrar Statement of Accounts and solvency or LLP Annual returns of any 5 Consecutive Financial Years.
  5. The tribunal is of the opinion that it is just and equitable that the LLP should be wound up.
  6. The LLP has acted against the sovereignty and integrity of India.

Process For Winding Up

What you do

You just need to fill our Simple form stating the basic details of the partners and also few documents asked by our experts.

What We do

We will prepare and file your Documents with Registrar of Companies (ROC).

What you get

Once the request for closure of business will be accepted by the ROC, we will provide you the documents received from ROC confirming the Closure of LLP.

Frequently Asked Questions

What is eligibility to Close LLP?

At least a year should have passed from the date of incorporation before the LLP files for closing to the Registrar of Companies.

What is time limit to file Closure documents with ROC?

The Form has to be filed with ROC office within 30 days from the date of Signing of the Statement of Assets and Liabilities.

What happens if the company does not comply with the timelines?

If the Company fails to comply with the timelines, a fine or penalty is incurred upon the Directors from starting another Company.

Is filing an application of closing with roc a must??

Yes, it is necessary to file closing application with the Registrar as it needs to be updated and the Company is free from all legal compliances and officially closed.

Reach Us

Leave Your Message Here

Mobile *

or mail us at contact@axeurtax.com
X
CONTACT US