Close Limited Liability Partnership

CLOSURE OF LLP

Procedure for closure of Limited Liability Partnership (LLP) 

• Once you decide the Close a LLP in India then you have to pass a resolution by the at least 3/4th of the Partners.
• After the passing a resolution you have to file form 1 with the resolution copy within the 30 days.
• In the third step llp have to make a declaration that llp have no debt liability or if have any then it will be have sufficient amount so they can paid within the 1 year from the commencement of the winding up. Its has prepared by the majority of the partners (minimum 2) .
• In the fourth step the above forms and affidavit has been submitted to the registrar within 15 days of the resolution along with the forms and a statement saying that such winding up is not being done to defraud anyone, form no .4 and a report of the value of the assets of the LLP.
• In the fifth step if you have the creditors in your llp then you have to obtain the consent from the creditors and it’s given by at least ⅔ of the unpaid creditors
• File the consent from the creditors with the appropriate timelines. You have to provide advertisement also in the local newspaper within 14 days from the receiving creditors consent and finally prepare the finalisation of the accounts and submit along with the form 9. So once form 9 has been filed, all the formalities has been completed.

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