CLOSURE
Closure of LLP
Packages Inclusion
-
Fast Track registration process .
-
Expert guidance and continued advisory services.
-
Seamless and personalized consultation with full transparency .
2000+ Businesses incorporated since
Trusted by
25,000+
world-class brands and organizations of all sizes












Overview
Closing your Limited Liability Partnership (LLP) in India, like navigating any significant crossroads, requires a clear understanding of your options and the road ahead. Fear not, for diverse possibilities exist, each tailored to your LLP’s unique circumstances. Company Avenue Advisory (CAA) stands beside you as a trusted guide, illuminating the path towards a smooth and compliant dissolution.
Unveiling the Choices:
Two primary avenues beckon when deciding to wind down your LLP:
1. Voluntary Winding Up:
This established route applies to solvent LLPs capable of settling all outstanding debts and liabilities. It follows a meticulously defined legal procedure outlined by the Limited Liability Partnership Act, 2008, ensuring a thorough dissolution process.
2. Striking Off the Name:
This streamlined option caters to dormant LLPs, those that haven’t commenced business or haven’t filed annual returns for a specific period. The Ministry of Corporate Affairs (MCA) offers the “Fast Track Exit” scheme, a significantly accelerated path to closure for such cases.
Picking the Right Path:
Choosing the most suitable route hinges on your LLP’s specific context:
● Financial Standing: Voluntary winding up becomes mandatory for LLPs burdened with debts or liabilities. If you’re debt-free, striking off the name might be a faster and simpler option.
● Operational Activity: Actively operating LLPs require winding up, while dormant ones qualify for strike off.
● Compliance Status: Consistent compliance with filing requirements facilitates strike off, while discrepancies necessitate winding up.
Unraveling Voluntary Winding Up:
Voluntary winding up involves a multi-step journey:
1. Board Resolution: Initiating the process commences with a formal resolution passed at a partners’ meeting, appointing a Liquidator to oversee the dissolution.
2. Creditor Notice: Transparency reigns supreme as creditors are informed about the winding up and invited to submit their claims within a designated timeframe.
3. Asset Realisation: To settle liabilities, the Liquidator skillfully navigates the terrain of asset disposal and outstanding receivables collection.
4. Debt Payment: With meticulous attention to priority and capital contributions, creditors and partners receive their rightful dues.
5. Final Statement and ROC Filing: Once all claims and liabilities are settled, a comprehensive final statement is filed with the ROC, marking the completion of the financial chapter.
6. Name Removal: Upon ROC approval, the curtain closes on your LLP’s journey, its name formally removed from the register, signifying its dissolution.
Fast Track Exit for Non-Active LLPs:
Dormant LLPs can bypass the winding-up formalities and embrace the speedier “Fast Track Exit” scheme:
1. Form 24 Submission: This crucial document, along with requisite documents and fees, paves the way for your formal application to the ROC.
2. Public Notice: Transparency remains paramount as a notice inviting objections is published in two newspapers and the LLP’s registered office, ensuring stakeholders are informed.
3. Objection Period: A 30-day window opens for potential objections from stakeholders, allowing for any concerns to be addressed.
4. Name Removal: If no objections surface, the ROC grants its approval, officially removing the LLP’s name from the register, marking its closure.
How it works
Experience effortless financial management with our streamlined process. Simply onboard, submit documents securely, and ensuring a seamless and efficient accounting partnership.
Get In Touch
Fill the form or Chat with one of our executive to get all the details.
Chat now
Provide Necessary Documents
Submit all necessary documents required for company registration.
Documents needed
Track Your Work
Get your work done in in 10-15 working days
Choose Your Plan
Your Financial Peace, Priced Right
Ultimate Startup Package
Our Ultimate Startup Package Service Include
Rs.21999/
/Including Govt. Fees
Dapibus sodales torquent vel hac vulputate ornare nam, magna rutrum sagittis libero nostra.
-
Pvt Ltd Company Registration -
MSME Registration -
Startup Registration -
GST Registration -
Trademarks Application -
Reply to Trademarks objection -
COI/MOA/AOA -
PAN/TAN / ESI PF -
2 DSC + 2 DIN
Get started
*Fee is inclusive of Government Fee, Out of Pocket Expenses, Professional Fee and GST.
Ultimate Small Business Package
Our Ultimate Small Business Package Service Include
Rs.23999/
/Including Govt. Fees
Dapibus sodales torquent vel hac vulputate ornare nam, magna rutrum sagittis libero nostra.
-
Pvt Ltd Company Registration -
MSME Registration -
Startup Registration -
GST Registration -
Trademarks Application -
Reply to Trademarks objection -
COI/MOA/AOA -
PAN/TAN / ESI PF -
2 DSC + 2 DIN
Get started
*Fee is inclusive of Government Fee, Out of Pocket Expenses, Professional Fee and GST.
Ultimate Enterprise Package
Our Ultimate Enterprise Package Service Include
Rs.25999/
/Including Govt. Fees
Dapibus sodales torquent vel hac vulputate ornare nam, magna rutrum sagittis libero nostra.
-
Pvt Ltd Company Registration -
MSME Registration -
Startup Registration -
GST Registration -
Trademarks Application -
Reply to Trademarks objection -
COI/MOA/AOA -
PAN/TAN / ESI PF -
2 DSC + 2 DIN
Get started
*Fee is inclusive of Government Fee, Out of Pocket Expenses, Professional Fee and GST.
Common Questions
Most Popular Questions
What is the procedure for closing down an LLP (Limited Liability Partnership) in India?
The procedure involves obtaining partners’ consent, settling debts and liabilities, filing necessary forms with the Registrar of Companies (RoC), and obtaining RoC approval
Who is eligible to apply for closure of an LLP in India?
LLPs that have ceased operations and have no liabilities or assets, or those that have completed their objectives, are eligible for closure.
What are the consequences of not closing down an LLP properly?
Failure to close down an LLP properly may result in penalties, legal liabilities, and continued compliance obligations, even if the LLP is no longer active.
Can an LLP be closed down voluntarily?
Yes, an LLP can be closed down voluntarily by following the prescribed procedure for closure as per the Limited Liability Partnership Act, 2008.
What documents are required for closing down an LLP in India?
Documents such as board resolution, consent of partners, statement of accounts, indemnity bond, and Form 24 are required for closure.
How long does it take to complete the closure process for an LLP?
The closure process typically takes around 3 to 6 months, depending on various factors such as the completeness of documentation and RoC processing time.
The closure process typically takes around 3 to 6 months, depending on various factors such as the completeness of documentation and RoC processing time.
Can Avenue Advisory assist with the closure of LLPs in India?
Yes, Avenue Advisory provides expert assistance for the closure process, including filing applications, preparing documents, and liaising with regulatory authorities.
How does Avenue Advisory ensure compliance with the LLP closure procedure?
Avenue Advisory ensures compliance by guiding clients through the process, preparing accurate documents, and facilitating timely filings with the RoC.
What are the benefits of outsourcing the closure process to Avenue Advisory?
Outsourcing to Avenue Advisory ensures efficiency, accuracy, and peace of mind, allowing LLPs to close down smoothly while adhering to all legal requirements.
Make your business stand out with our personalized accounting services.
Elevate your business with our tailored accounting solutions, uniquely designed to make your financial management stand out. Experience personalized services that go beyond numbers to drive your success.
Get Expert guidance
Why choose us
4 Seamless Steps to Your Success
Get what you need with Company Avenue Advisory’s hassle-free process. Follow these four simple steps and let us handle the rest:
STEP 1: Get Started (FREE!)
Share your needs and questions through our Quick Enquiry Form. Connect with a friendly advisor for a personalized call within 24 hours. Receive a clear quote without any obligation – it’s all about understanding your goals!
STEP 2: Find Your Perfect Path
Our dedicated advisors listen to your needs and help you explore options. We make things clear and answer any questions you have along the way. Get expert guidance and feel confident about your next steps.
STEP 3: Get it Done Simply
Access our streamlined platform for easy document management. We provide a simple questionnaire and checklist to ensure everything’s covered. Relax knowing we’re here to guide you every step of the way.
STEP 4: Pay Actual Fee and Enjoy Peace of Mind
Receive a transparent and fixed fee before you proceed – no surprises! Focus on achieving your goals knowing everything is handled efficiently and ethically. Trust our expertise and enjoy the journey towards your success.