Overview

Defunct limited liability partnership carrying no business have the option to approach the registrar to strike off the name of the LLP in accordance with Section-75 of Limited Liability Partnership Act, 2008 read with Limited Liability Partnership (Amendment) Rules, 2017. It is better to move for closure of the LLP if there is no business to save the penalty cost that may arise due to non-compliance of annual return i.e. Form – 8 and Form – 11.

Prerequisite

• LLP closure must be filed to the ROC at least completion of one year from the date of incorporation.
• Annual returns of the LLP must be filed before proceeding for the closure of LLP.
• Bank account of the LLP must be closed.
• There should be no creditors, otherwise NOC from the creditors is required
• There must be no business in the LLP

Process for Closure of Limited Liability Partnership Firm

On completion of documents mentioned in the prerequisite, then affidavit and declaration to be prepared.

Statement of accounts disclosing NIL assets and liabilities, certified by the practicing Chartered Accountant up to a date not earlier than thirty days of the date of filing of Form 24 must be obtained.

Filing of LLP Form 24 with the MCA to strike off name of LLP

Time taken for Closure of Limited Liability Partnership Firm

The whole process will require approximately ten day to file Form - 24 and approval depends upon the department.

Checklist of Documents Required for Closure of Limited Liability Partnership Firm

• Indemnity bond.
• ITR acknowledgement of LLP.
• Statement of Profit and Loss.
• Affidavit.
• Authorization letter for striking of LLP.