Compliance for LLP

Reason to Close the Winding-up LLP (Limited Liability Partnership) in India –

  • Some Startups just started with the idea but after the testing their ideas there is no profitability so they want to close the LLP.
  • There is no business activity for a long time.
  • Partners are not willing to continue the business or partnership.
  • If the LLP is Registered for any specified project and it has been completed. LLP has become bankrupt.
  • Only one partner is remained after the death of the partner and wants to close the business.
  • Powers to enter into all types of legal contracts.

So above are the main reason for the Close an LLP in India. If any entrepreneur facing these issue after the registration then they are tried to close winding-up LLP so at least they can’t afford the legal penalties or compliance every year. Even they have to bear the huge professional for the maintenance through the chartered accountants or company secretary so the best is always close to an LLP if you face above any kind of the reason.

FAQs

When existence of the Company as a legal entity comes to an end it is known as the Closure of OPC.
It is necessary to file Closure with the ROC as ROC or MCA data base need to be updated and the LLP is free from all its legal compliances as it is officially closed. Even though business of the company is closed, unless closure documents are filed and approved by the ROC, company is not legally closed and the LLP needs to file all the regular returns.
FTE is a company closure scheme initiated by MCA for easy and faster closure of LLP.
Any LLP which has been inoperative for more than 1 year or incorporated for more than One year and have no business can apply for Closure under FTE scheme. Form 11 & Form 8 filing need to be up to date, otherwise the closure of LLP may be rejected by ROC
Application for Striking off of the LLP, Partners Meeting Resolution for closure, Consent of Partners, Partners' Affidavit, Indemnity Bond, Statement of Assets and Liabilities.
The Form has to filled be filed with ROC office within 30 days from the date of Signing of the Statement of Assets and Liabilities.

Testimonials

I have received the company incorporation documents and extremely pleased to see the way documents are arranged. The service provided exceeded all the expectations. It’s been a great experience to work with to get this done. I would definitely give five stars to process and the way dealt with the customer. I would promise to recommend my friends if something they would need that serve. Thumbs up for the services and I would like to say WOW!!!! Thanks!!

SANTOSH KUMAR SINGH

DIRECTOR , AGROMISSION TECHNOLOGY INDIA LIMITED

I am writing to convey my appreciation to the staff at Group for the services rendered to obtain the incorporation of my company in India. I found the professionalism of the staff at Group, a pleasure to work with. As a foreigner to India, they took the time to explain the documentation and assisted in every question I raised. I was pleased that Group made a case for my business name and that I received the name that I wanted. I was completely satisfied with their service and strongly recommend them to anybody desirous of starting a business in India

PRAVISH KUMAR

DIRECTOR ,ORNIC HEALTHCARE PRIVATE LIMITED