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Close LLP

All you need to know

An LLP (Limited Liability Partnership) is a hybrid business structure that combines the benefits of limited liability, similar to a company, with the flexibility of a partnership. It can continue to exist regardless of changes in its partners, and has the ability to enter into contracts and own property in its own name. As a separate legal entity, an LLP is fully responsible for its assets, but the liability of its partners is limited to their agreed-upon contributions to the LLP.

LLP Strike Off:

If an LLP wishes to cease its operations or has not been conducting any business for over a year, it can apply to the Registrar to declare the LLP as defunct and have its name removed from the register of LLPs.

An LLP need to be closed down / LLP Strike off can be done on the following conditions:

The LLP has been inactive since its incorporation or has remained dormant for at least one year.

The LLP has no assets or liabilities as of the application date.

The LLP’s current account has been closed.

The LLP must obtain consent from relevant parties, including authorities, creditors, and partners.

Reasons why an LLP may close its business / Reasons for LLP Strike off?

The statutory compliance costs for maintaining an LLP are often higher than the expenses involved in winding it up. If the LLP is dormant, it is more cost-effective to wind it up rather than continue meeting compliance requirements. To avoid penalties and fines for late filings, it is advisable to officially wind up inactive LLPs. Upon incorporation, the Registrar of Companies issues a Certificate of Incorporation, confirming the existence of the LLP. Once the LLP’s name is registered, it cannot be removed unless the LLP applies for a strike-off or it is processed by law. If the LLP fails to commence business or neglects to file annual returns, the Registrar may initiate a strike-off process

LLP Closing Charges

Choose Your Package

Simple Prices | No Surprises

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ESSENTIAL

₹ 9999/-

  • Wind up an LLP with no transactions since incorporation
  • Preparation of Statement of Accounts
  • Preparation of Indemnity Bond
  • Preparation of Affidavits
  • Documents preparation
 
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ENHANCED

₹ 10999/-

  • Wind up an LLP with no transactions since incorporation
  • 2 Directors' DIR 3 KYC
  • Preparation of Statement of Accounts
  • Preparation of Indemnity Bond
  • Preparation of Affidavits
  • Documents preparation
Choose Plan
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ULTIMATE

₹ 22599/-

  • Wind up a company with no transactions since incorporation
  • 2 Directors' DIR 3 KYC
  • Form 8 and Form 11 Filing for 1 Financial year
  • Nil ITR filing
  • 2 DSC Application Class III Individual 2 Year Validity
  • GST Cancellation Application
  • Preparation of Statement of Accounts
  • Preparation of Indemnity Bond
  • Preparation of Affidavits
  • Documents preparation
  • Filing of GSTR-10 (Final Return)
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Easily Strike off LLP

Points to make your decision easy

An LLP can be closed by submitting an application with the MCA, typically within 3 to 6 months. There’s a fast-track exit process that allows you to complete the entire procedure online, making it quick and hassle-free.

If your LLP is inactive or dormant, it's more cost-effective to wind it up rather than continue complying with ongoing requirements like filings and audits. This will save you from unnecessary compliance costs every year.

Failing to meet compliance deadlines can lead to fines and penalties, including the disqualification of partners from starting a new LLP. To avoid these penalties, it’s best to legally close your dormant or inactive LLP.

Documents Required for LLP Strike off

How to Close an LLP in India / Closure of LLP in India?

5 Easy Steps

Simple Checklist for Private Limited Registration

A compliance manager will reach out to collect your documents and provide you with a simple checklist. Please fill it out and submit it with your documents for verification. Our expert team will review the documents you provide and proceed with the necessary steps. Throughout the process, your compliance manager will keep you informed about the progress.

 

Filing of Pending Documents

Once we have received all your documents and details, we will prepare necessary documents, such as affidavits and declarations. Additionally, we will file any pending forms and documents with the Registrar of Companies (ROC). After filing, we will obtain a certificate from a Chartered Accountant confirming that the company has no assets or liabilities.

 

 

Application for LLP Striking Off

After receiving all the required documents, we will prepare and file an LLP strike-off application in E-form 24. We will also need consent from all partners to proceed. Once all documents are submitted, the ROC will verify them, and if everything is in order, they will approve the application and strike off the LLP’s name from the registry.

FAQs On LLP Strike off

A defunct LLP refers to a limited liability partnership that has not been active for an extended period. It has not been carrying on business or operations, and often has no assets or liabilities. Such LLPs are typically not required to file annual returns and may seek closure.

To close a defunct LLP, an application for striking off the name must be filed with the Registrar of Companies (ROC). This process involves submitting various forms and obtaining consent from all partners. If the ROC approves the application, the LLP will be officially struck off the register.

E-Form 24 is used for the closure or strike-off of an LLP from the register of companies. It is a mandatory form that needs to be filed along with consent from all partners and other necessary documents for the LLP strike-off process.

The strike-off process typically takes about 3 to 6 months. The duration can vary depending on the complexity of the case and whether the necessary documents are in order.

Yes, an LLP that has done business in the past can still be closed, but it will need to meet specific criteria for closure. If the business has been dormant for a certain period and has no outstanding liabilities or assets, it may still be eligible for closure.

Yes, obtaining consent from all partners is mandatory for the closure of an LLP. Each partner must agree to the winding-up process and provide the necessary signatures on the required documents.

Yes, once the application for strike-off is approved, the ROC will issue a certificate confirming the closure or strike-off of the LLP. This certificate will serve as legal proof that the LLP is no longer registered.

Our LLP strike-off services are available across various cities in India. We provide services in major cities like Bangalore, Delhi, Mumbai, Chennai, Hyderabad, and many others.

Feel free to get in touch with us for any further queries or assistance regarding the LLP strike-off process. We are here to help!

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