How to Close Your LLP in India?
Has your LLP been not operating for a long time? Yet you are required to pay compliance fees for so many years? Is it not profitable anymore? Well, StartupPandits can help you close your LLP down and save you from unnecessary charges and headaches.
Naturally, all may not go well for a business and one may need to take the hard decision of closing the LLP business. However, while doing this, the LLP needs to go through a range of legal formalities to ensure that the closure is as per the established formality in order to avoid any kind of future concerns.
The Legal Solutions Regarding the Closure of LLP
If you are trying to close down your LLP, the following are the valid legal solutions for the same;
Declare the LLP Defunct:
Winding-up the LLP: The winding up process of the LLP is governed by the Section 63, 64 and 65 as given in the LLP Act, 2008.
Voluntary Winding Up: This is a decision taken by the partners of the LLP when they decide to close the LLP. In order to do this, a resolution has to be arrived by at least 3/4th of the partners and the copy of the resolution must be submitted to the ROC in 30 days of passing the resolution.
LLP Form 24
LLP Form 24 has made it easier for LLPs to close down their operations. The best option for LLP closure is Form 24 and any LLP that fails to do so must pay Rs. 100/day as fine.
Fast Track Exit
MCA has initiated this FTE Scheme for effortless and quick closure of LLPs that have been defunct for at least a year or incorporated for more than a year and business is conducted. It is really important to file Form 8 and Form 11 for the acceptance of closure by the ROC.
Why Choose StartupPandits for LLP Closure in India?
If you are looking for a reliable legal and business consultant firm that can provide you with affordable and professional assistance with your LLP closure, you have reached the right place. Startuppandits has been on the forefront of providing expert and timely services to all our clients who want to close their LLPs down for years now.
As we have helped our clients with all of their closure requirements, we know each procedure and legal requirements that must be complied with to ensure effortless and comprehensive closure of your LLPs. In addition to that, we also have a team of exceptionally experienced and academically qualified professionals who can help in your LLP closure in India.
As a client-centric company, Startuppandits has also created a unique Annual Maintenance Contract scheme that can be used by the clients effectively for any of their legal compliance requirements.