Close to lLP
LLPs are newly formed business entities in India, as a result of the LLP Act of 2018. If the yearly turnover of the LLP is less than Rs40 lakh or the capital investment is less than Rs.25 lakhs, the LLP is immune from audit.
The Limited Liability Partnership (LLP) is a basic partnership in which all partners have limited liability due to the LLP’s legal provisions and documents. An individual must follow a specified procedure to register his or her limited liability partnership (LLP). While there are benefits to forming an LLP in India, there are also some drawbacks. Many of them are also unfamiliar with the procedure for dissolving an LLP. We’re going to take a look at this now.
The procedure of winding up an LLP is governed by sections 63, 64, and 65 of the LLP Act, 2008. The winding up of a Limited Liability Partnership might be done voluntarily or by a tribunal. Let’s take a closer look at both.
Register a Company in 7 Easy Steps
Resolution
A specific resolution approving the dissolution of the partnership must be passed by all or 34% of the company's partners.
Fill out Form No. 1
Form No. 1 is filed with the Ministry of Corporate Affairs (MCA) within 30 days of the resolution being passed, together with a copy of the resolution.
Declare that you are debt-free.
At least two LLP members must declare that the LLP has no debts or liabilities. Or, if it does, it will be settled within a year of the start of the winding up process.
Form 4 & Asset Values
Within 15 days of completing the forms, the registrar must receive Form No. 4 and a report on the worth of the LLP's assets, as well as a statement stating that the LLP is not being closed to defraud anyone.
Creditor Approval
The next stage is to get the LLP's creditors' permission to close the business. At least 2/3 of the company's creditors must agree for this to happen.
Submit Form 6
An advertisement must be placed in the local newspaper within 14 days of gaining authorization from creditors. A liquidator is appointed if the LLP has assets or obligations, and his or her declaration must be filed.
Complete Form 9
Complete Form 9 Prepare and send the LLP's final account statement, along with Form 9, to complete all requirements.
Document Required
- PAN Card of Partners- In addition to the application form and indemnification that must be presented to the registrar, you must also submit PAN cards of all of the LLP’s partners and designated partners for the LLP’s closure.
- Aadhaar Card of Partners- Similar to the PAN card, the Aadhaar card of all the LLP’s partners and designated partners is another document that must be submitted for the LLP’s dissolution.
- Latest Address Proof of Partners- In addition to the two documents indicated above, the latest address proof of all LLP partners must be supplied.
- Consent letter- In order to close an LLP, you’ll need to have a consent letter signed by all of the partners.
Checklist for Closure of LLP
- Checklist for forming an LLC To be eligible for closure, you must meet certain criteria.
- The LLP that is being closed down should not have started doing business after it was formed.
- For the past year, the LLP that will be closed has not done any business.
- There are no assets or liabilities in the LLP that will be closed.
OUR PRICING PLANS
Standard
₹ 14,999
- complete company incorporation
- Certificate of incorporation (COI)
- Permanent account number (PAN)
- tax deduction account number (TAN)
- director identification number (DIN)
- digital signature certificate (DSC)
- memorandum of association (MOA)
Gold
₹ 16,999
- complete company incorporation
- Certificate of incorporation (COI)
- Permanent account number (PAN)
- tax deduction account number (TAN)
- director identification number (DIN)
- digital signature certificate (DSC)
- memorandum of association (MOA)
- articles of association (AOA)
- Bank account opening
- GST registration
- MSME / UDYAM registration
Platinum
₹ 19,999
- complete company incorporation
- Certificate of incorporation (COI)
- Permanent account number (PAN)
- tax deduction account number (TAN)
- director identification number (DIN)
- digital signature certificate (DSC)
- memorandum of association (MOA)
- articles of association (AOA)
- Bank account opening
- GST registration
- MSME / UDYAM registration
- Share certificate issue
- company commencement form filling