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Limited Liability Partnership Company Closure in Bangalore

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The penalty for failing to file any statutory return for LLPs is Rs.100 per day, without any overall cap. Therefore, it is also best to windup dormant LLPs so that each financial year there is no need to file LLP Form 11, LLP Form 8 and Income Tax Return for the LLP to maintain compliance and escape punishment.

With an amendment to the Limited Liability Partnership Law, 2009, the Ministry of Corporate Affairs introduced LLP Form 24. The appeal for the closure of the LLP, however, is geared against particular requirements. Limited Liability Partnership (LLP) is a general business form in which there are limited duties per co-worker. An LLP is a company that supports unique legal sessions and papers. There is a pre-defined form in which your LLP can be designated or closed. There are some advantages to being in an LLP, but there are still some demerits at the same time.

The process for winding up an LLP used to be lengthy and tedious until the adoption of the Limited Liability Partnership (Amendment) Regulations (2017). However, the process has been made simple and clear with the implementation of LLP Form 24.


Partners Meeting

Convene a meeting of all the partners and obtain consent from all the partners for making an application to strike off the LLP.

Sale of Assets and Payment of Dues

If the LLP has any assets, first sell them and pay all the liabilities so that therein NIL asset and NIL Liability in the LLP

Close Bank Account

The bank account of the LLP need to close and obtain a closure certificate from the banker along with the final statement.

Statement of Account

Prepare a statement of account and get it certified by a Chartered Accountant in practice. The statement should not be older than 30 days on the date of filing form 24

Affidavits and Indemnity Bond

All the partner has to swear in an affidavit about the truthfulness of the particulars of documents and information being filed in Form 24. The partners are also required to sign an Indemnity Bond taking personal responsibility for any future liability that may arise for the LLP.

Filing of Form 24

Finally, the prescribed form 24 for striking off the LLP is filed with the ROC along with the scan copy of supporting documents, the Form 24 is filed with the DSC of partners and need Certification from CA, CS or CMA.


How to Close LLP ?

Step 1: Settlement

A clear resolution must be passed by both or 3⁄4 of the company’s shareholders, agreeing to dissolve the relationship.

Step 2: Form No. 1

Form No.1 shall be submitted with the Ministry of Corporate Affairs (MCA) with a copy of the resolution within 30 days of the resolution being passed, and

Step 3: No Declaration of Debt

At least two of the LLP’s members must announce that they do not have debts or liabilities. Or if it does, within one year from the start of winding up, it will be settled.

Step 4: Form 4 & Value of Assets

Form No. 4 along with a report of the value of LLP’s assets has to be submitted to the registrar within 15 days of filing the forms and a statement declaring that the LLP is not being closed to cheat anyone.

Step 5: Creditor Consent

The next step is to acquire consent from the creditors of the LLP, to wind up the business. For this purpose, at least ⅔’rd of company creditors have to provide consent.

Step 6 – Filing Form 6

Within 14 days of receiving consent from creditors, an advertisement has to be filed in the local newspaper. In case if the LLP has assets or liabilities, a liquidator is appointed and his/her statement needs to be filed using form 6.

Step 7: Filing Form 9

Prepare the LLP’s final account statement, and submit them along with form 9 to conclude all formalities.

Documents Required

  • Consent of all the partners
  • Bank Closure Statement
  • CA Certified Statement of Accounts
  • Copy of ITR Acknowledgement of LLP
  • LLP Agreement
  • Affidavits of all partners
  • Indemnity Bond of all partners
  • Identity and Current Address Proof of partners

Why Bizivalue ?

Registering a company offers many benefits. A registered company makes it genuine and increases the authenticity of your business.

Shields from personal liability and protects from other risks and losses.
Attracts more customers
Procures bank credits and good investment from reliable investors with ease.
Offers liability protection to protect your company’s assets
Greater capital contribution and greater stability
Increases the potential to grow big and expand
You will also get Zero Balance Current Account


The registrar of companies (RoC) across India expect applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.

If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.

No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.

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