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Startupism provides a streamlined process for winding up or closing your Limited Liability Partnership (LLP) company online, adhering to the recent amendments made by the Ministry of Corporate Affairs (MCA) to the LLP Rules 2009. Our digital platform ensures a hassle-free experience, and we offer a range of services to support you through the LLP closure process.
Affordable Pricing: Close your limited liability partnership for just Rs. 6,399.
Why Choose Startupism for LLP Closure?
A Limited Liability Partnership (LLP) is a widely adopted business structure in India, offering numerous advantages such as flexibility, tax exemptions, legal entity status, and more. However, there are situations where business owners may decide to close their LLP. This could be due to reasons like bankruptcy, prolonged business inactivity, or non-compliance with annual requirements.
1. Declaring an LLP as Defunct:
2. Winding up LLP:
Closing an LLP involves several steps:
Step 1: Getting the Consent of Partners
Step 2: Ceasing all Business Operations
Step 3: Closing Bank Account
Step 4: Affidavits and Declaration
Step 5: Preparing Documents
Step 6: Filing Form 24
Step 7: Striking off the LLP
The necessary documents include:
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According to legal experts, there are two ways to cease the operations of a business:
Declaring insolvency.
Ceasing business activities.
No, it’s not possible. An LLP must operate for at least one year from its formation before dissolution.
No, to apply for closure, the LLP’s business operations must have ceased, and at least two years should have passed.
No, the law typically requires settling all accounts and clearing liabilities before applying for closure. Only after receiving a final statement can company partners request to strike off the LLP’s name from the registrar.
The ROC is a government office where companies are registered. Each state has its own ROC office, except for some states.
No, filing Form 24 is mandatory to close a limited liability partnership firm.
The cost of closing an LLP in India may vary by region and depends on the services hired by the applicants. Professional services can typically be found within a budget of Rs. 6000-10,000. However, it is recommended to gather complete details to avoid hidden charges.
With accurate document preparation and professional legal assistance, you can expect to complete the procedure within 15–30 days. Delays may stretch the process up to two months or more, making it advisable to hire a dedicated team assistant like Startupism.
Some steps, such as obtaining affidavits and filing Form 24, require careful attention. Therefore, the process can be complex, especially for those without legal experience.
If a business chooses not to close an LLP after one year of inactivity, it may be subject to penalties under the law.
At Startupism, we understand that turning your innovative ideas into a thriving business is no small feat. That’s why we’re here – to simplify the complex, to guide you through the process, and to empower you to succeed.