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Close an LLP

Closing an LLP needs to start with the filing of a resolution and this needs to be done within 30 days after the company has stopped operating. After this resolution has been filed, each of the partners need to declare that there is no debts to be paid and if there is, that will be paid within a stipulated time of one year. Not later than 15 days after the resolution has been passed, an LLP has to submit valid document proofs stating an evaluation of accounts last closed till the last day of the closure of the LLP. It has to be then attested by at least two partners. A report validating the assets of the LLP is another important aspect to be prepared.

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VcourTs will file the Form 24 with the Registrar of Companies and this should be declared by the partners. Indemnity bonds along with affidavits that state that the information is true should be submitted.

The Registrar will publish a notice on the website that will state the substance of application for one month. After the period of one month, the Registrar, will legally close or dissolve the LLP by publishing a notice, in the Official Gazette.