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When the LLP is incorporated a Certificate of Incorporation is issued by the Registrar of Companies which acknowledges the existence of the LLP. Once the name of the LLP is entered into registrar it cannot be removed unless the LLP applies for it or processed by law. When the LLP fails to commence its business or fails to submit yearly returns, the registrar by its own may put the name of the LLP into strike off.
In case the LLP wants to close down its business or where it is not carrying on any business operations for the period of one year or more, it can make an application to the Registrar for declaring the LLP as defunct and removing the name of the LLP from its register of LLP’s.
We at ebizfiling will make it easy for you to ensure all related compliances in relation to Strike Off of LLP.
Few points to make your
Audited accounts to show no assets and liabilities
There are no secured creditors in the LLP
Cessation of Work
The LLP does not carry any business or operation
Inactive LLP having no operations from incorporation
Inexpensive to implement
Strike off is less expensive than liquidation
No requirements of mandatory filings
Application can be made by an active LLP
Application can be made by a Dormant LLP
LLP’s name is struck off from registrar
The LLP cease to exist after strike off
Ways of Strike off
Application made by the LLP
Registrar’s power to strike off by its own
A small procedure for your
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What is Closure of LLP?
When existence of the LLP as a legal entity comes to an end it is known as the Closure of OPC.
Is there any Fast Track Exit Scheme for LLP Closure?
FTE is a LLP closure scheme initiated by MCA for easy and faster closure of LLP.
What is eligibility to Close 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. Annual Filing of the LLP need to be up to date, otherwise the closure of LLP may be rejected by ROC.
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