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+91 8600544422Online Closure of LLP
Strike Off of a LLP is a process of closure of a LLP by removing its name from the Register of LLPs, which is maintained by the Registrar of Companies (ROC). Once the LLP is struck off, it loses its existence and shall not be eligible to carry out further business operations.
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Online Closure of LLP
A registered LLP may face difficulties in carrying out its business operation due to adverse business conditions or lack of finance. Due to such business conditions, the partners may lose interest and intention to carry out further business activities. The government has given an option for voluntary closure of LLP, using which an LLP may apply to strike off or remove its name from the register, which is maintained by the ROC. It is one of the easier, faster, and less economical methods of Closing an LLP.
Which LLP can apply for Voluntary Closure?
Any LLP which is not carrying on any business or operation for the last 1 (one) year or more can file an application to the Registrar of Companies (ROC) for strike off or removal of its name from the register of LLP’s maintained by ROC.
Advantages Of Voluntary Online Closure of LLP
Easy exit opportunity for Entrepreneur’s
The process of closing an LLP by way of strike off is easy and convenient for entrepreneurs. The process of application for closure can be done online and further the Registrar will close the LLP if there is no objection from Regulators within 10-12 months of time.
Avoid requirement of yearly Compliances
An LLP has to file annual returns and other documents every year to the Registrar of Companies (ROC) and other regulatory authorities. In a case, the LLP is not doing any business or does not foresee any business in the coming years, then it can proceed towards closure of the LLP in order to avoid the cost of yearly compliances.
Avoid burden of Penalties
When an LLP does not comply with the requirement of filing a financial statement, annual return, or any other statutory forms, a heavy monetary penalty and additional government fees may be imposed on the LLP and its partners. Therefore, to avoid such consequences, closure of the LLP is always a better option.
Minimum Requirements for Voluntary Closure of LLP
LLP has not conducted any business for a period of 1 year or more
Consent of all the Partners of LLP
Consent of all the Creditors of LLP (if any)
LLP should not have any Assets or Liabilities
Bank account of LLP (if any) shall be closed
Digital Signature of the Designated Partner
DIN/DPIN of Designated Partner must be Approved
LLP has filed Annual returns and Statement of Accounts & Solvency up to the year it has conducted business.
What Is Included In Our Online Closure of LLP package?
Consultation on process of Closure of LLP
Preparation of Affidavit, Indemnity Bond and other documents for Closure of LLP
Preparation of Statement of Accounts, Statement of litigation and other documents duly certified by a Professional (CA/CS/CMA)
Filling of Form 24 with MCA along with Professional Certification
Payment of applicable government fees to the respective ROC
Acknowledgement number
Follow up with ROC/MCA after filing for closure of LLP
Process of Online Closure of LLP
Collection of required Information and Documents
In the first step, we shall collect the required information and documents required as per the checklist. We shall verify and confirm the documents and information provided.
Preparing the documents for Closure of LLP
In the next step, we shall prepare various documents, forms, resolutions, and statements required for the application of removal of the name of LLP.
Submission of Form 24 along with the government fees to ROC
After preparation of all the required documents, an application for removal of name of the LLP shall be submitted to the Registrar of Companies (ROC) in Form 24 which shall be signed by the designated partner and shall be certified by a professional by paying the requisite fees for approval purposes and an Acknowledgement Number (SRN) shall be generated.
Closure of LLP by ROC within few months
After filing an application for strike off by the LLP, the ROC shall publish a public notice inviting objections to the proposed strike off from the general public and regulatory authorities. If there are no objections received within a specified time from the general public or government authorities, the ROC can proceed to strike off or remove the name of the LLP from its records.
Documents Required in Online Closure of LLP
Incorporation documents of LLP such as Certificate of Incorporation, PAN, TAN etc.
LLP Agreement and Supplementary Agreement
Digital Signature Certificate (DSC) of Designated Partners
Details of Change in Partners from the date of Incorporation (if any)
Copies of Financial Statement, Auditor report, Income Tax Return (ITR) of the LLP previously filed.
KYC documents of partners and designated partner of LLP such as PAN and Aadhaar Card.
Any other documents as may be required
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