Strike Off LLP
Senixa Legal helps you to wind off your LLP and stop complying with routine compliances. Prices starting from INR 8999/- only.
Step 1
Complete 1 simple form & Submit Documents
Strike Off LLP
Limited Liability Partnership means an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its name.
The Limited liability partnership is a separate legal entity, is liable to the full extent of its assets but the liability of the partners is limited to their agreed contribution in the LLP.
Limited liability partnership Strike Off
In case the Limited Liability Partnership wants to close down its business or where it is not carrying on any business operations for one year or more, it can make an application to the Registrar for declaring the LLP as defunct and removing the name of the LLP from its register of LLP.
A Limited liability partnership needs to be closed down / LLP Strike off can be done on the following conditions:
1. Limited Liability Partnership is inoperative from the date of incorporation or inactive for at least one year
2. Limited Liability Partnership does not have any assets/liabilities as of the date of application.
3. Closure of the current account of the Limited Liability Partnership has been done
Limited Liability Partnership Obtain the consent of the parties i.e any other authority, creditors, and partners.
Reasons why a Limited Liability Partnership may close its business / Reasons for LLP Strike off?
• The statutory compliance of maintaining an LLP is higher than the cost of winding up. If the LLP is dormant it’s better to wind up than fulfill the compliance.
• To avoid fines and penalty for late filing, it is better to officially Wind Up LLP’s which are inactive.
When the LLP has incorporated a Certificate of Incorporation is issued by the Registrar of Companies which acknowledges the existence of the LLP. Once the name of the Limited Liability Partnership is entered into the registrar it cannot be removed unless the LLP applies for strike off or it is processed by law. When the LLP fails to commence its business or fails to submit yearly returns, the registrar may SUO motto strike off the LLP.
Steps to Close an LLP in India
Fill Simple Checklist
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Name Approval
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently the approval of name for your Private Limited Company. You may suggest up to three names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your Private Limited Company in Part A of SPICe Plus form.
Registration
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
FAQs On LLP Strike off
What is Defunct LLP?
A defunct LLP indicates an LLP that has not started any business or is not carrying on any business for the immediate past one year and has no assets and liabilities.
How to close a Defunct LLP?
A defunct LLP can be closed by making an application to the Registrar with the consent of all partners of the LLP for striking off its name from the register.
What is the use of E-Form 24?
E-Form 24 is used for making an application to the Registrar of Companies for striking off the name of the LLP.
How much time will it take to strike off the LLP?
Normally, it takes 6 months to 1 year to remove the name of the LLP from the registrar records.
My LLP has done a little business in the last year, can it be closed?
The LLP can be closed if the LLP is inoperative from the date of incorporation or inactive for a period of at least one year immediately preceding the filing of the application.
Is it mandatory to have the consent of all the partners to close an LLP?
Yes. Consent of all the partners is required to file the application for closure an LLP
Will I get the certificate of closure or the Striking of an LLP from the ROC?
No. Registrar will not issue a certificate for the closure of LLP. After the scrutiny of the application, the Registrar will approve the application form. The status of LLP will be changed to ‘under the process of striking off’.
Have some queries?
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