Procedure For Striking Off Limited Liability Partnership(LLP)

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Procedure For Striking Off Limited Liability PartnershipLLP E-form 24 is required to be filed for striking off the name of the LLP under clause b of sub rule 1 of Rule 37 of LLP Rules 2008. Winding up of an LLP may be voluntarily or compulsorily. Voluntary Winding up o The partners may decide to stop and wound up the operations of the LLP voluntarily. Compulsory winding up o The Limited Liability Partnership may be wound up by the order of a Tribunal or court. o If the company is unable to pay its debts. o If there is no business activity for the continuous period of 1 year or more. o If the company has acted against the interest of the sovereignty and integrity of India the security of the state. o If the company has made a default in filing of statement of Account and solvency or annual return with the Registrar for any five consecutive financial years. Section 63 64 and 65 of LLP Act 2008 governs the process for Winding up of LLP. DOCUMENTS REQUIRED TO WIND UP LLP  Board Resolution  Affidavits from the Designated Partners  Consent of the creditors  Report regarding the current valuation of the assets of the LLP by a recognized valuer.  Statement of Accounts  Statement of Assets liabilities Debts etc.  Indemnity Bond from the Designated Partners  Authorization to make an Application  Application of Closure  Consent of the Designated Partners to strike off the LLP PROCEDURE TO WIND UP LLP o An application to the ROC in eform 24 along with consent of all partners for striking off the name of the LLP. o The LLP must pass a resolution in favor of at least ¾th of its total number of partners. o The majority of the designated partners shall make a declaration in the form of affidavit that LLP does not have any dues towards Income Tax Sales Tax etc. and there is no

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litigation pending against the LLP and the information furnished is true to the best of my knowledge and belief. o Then the registrar will send a notice to the LLP o The Registrar shall publish a notice on its website for a period of one month for the general public. o If no reply is received within the prescribed period registrar may strike off the name of LLP as it deem fit. This article is about Limited Liability Partnership for More Information Please visit our website: efilingportal