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LLP Winding Up
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About Winding up of LLP?
The formalities for winding up of a dormant LLP are relatively simple and easy to complete. A LLP that doesn’t file its compliance on time incurs fines and penalty, including debarment of the Partners from starting another LLP or Company.Hence, its best to close an inactive LLP at the earliest.
An LLP may decide to wind up its business by two modes, either by voluntarily winding up or compulsory winding up.In voluntary winding up partners may decide 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.
To close down a limited liability partnership (LLP), in voluntarily winding up the resolution to do so must be filed with the Registrar within 30 days of its passing. Once this has been done, the majority of the partners need to make a declaration to the effect that the LLP has no debts or that it is in a position to pay all debts within a specified period not exceeding one year from the date of commencement of winding up of LLP.
Step 1 : Register in our Client Login and upload the required physical copies.
Step 2: After getting the all the necessary documents, our team willl verify all the documents and prepare the necessary application and apply with the MCA for windingup of LLP.
Step 3: After submission of application the authority, will process the application. Our team will be posting upon the updates of application processing and rsponding to the notices from Ministry of Corporate Affairs.
Step 4: After Completion ofProcess, you shall receive mail confirming the closure of your LLP on your registered E-mail.
- Copy of authority to make the application duly signed by all partners
- Copy of acknowledgement of latest Income-tax Return
- Statement of Accounts disclosing Nil assets and Nil liabilities
- Affidavit signed by designated partners
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