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As an LLP is a separate legal entity formed through a legal process, its closure must also follow a prescribed legal procedure.
An LLP can be closed either through winding-up or by striking off its name from the Register of LLPs. Winding-up is often a lengthy and costly process, involving tribunal approvals and the appointment of liquidators. Therefore, for LLPs that have been non-operational since incorporation or for over a year, the preferred and simpler route is strike-off. After the Ministry publishes a notice, the LLP will be officially struck off and will cease to exist in the eyes of the law.
The cost of statutory compliance for maintaining an LLP often exceeds the cost of winding it up. If the LLP is inactive or dormant, it is more practical to close it rather than continue meeting ongoing compliance requirements.
Every LLP registered in India is required to file its annual returns and statement of accounts for each financial year, regardless of its revenue, profit, or business activity. Even if the LLP has not opened a bank account or commenced operations, it must still complete the following annual filings to remain compliant and avoid penalties.
All partners are required to submit their and the firm’s PAN number as identity proof.
If the registered office place is rented, rent agreement and one utility bill (electricity bill, water bill, property tax bill, gas receipt etc.) have to be submitted. Also, NOC from landlord will be submitted.
The financial statement of the LLP with Copy of acknowledgment of latest INCOME TAX RETURN.
NoC for strike-off to be obtained from secured creditors, if any
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The LLP must discontinue its operations for a minimum period of 1 year
The LLP must be fully complied with Annual Compliance requirement and more
The LLP must close all the bank accounts opened in the name of the LLP
Procedure to Dissolve an LLP:
File LLP Form 24 online with the MCA along with the required documents.
Obtain a No Objection Certificate (NOC) from the relevant regulatory authority (e.g., SEBI, RBI), if applicable.
The Registrar will publish the application details on the MCA website for one month to invite public objections or representations.
If no objections are received within the specified period, and the Registrar is satisfied, an order will be issued to strike off the LLP’s name from the Register.
The striking-off process involves filing the prescribed form along with the required documents (as listed in the next FAQ). The Registrar will publish the application on the MCA website for one month to invite any public representations. Once approved, the LLP’s status will be updated as “Struck Off (Defunct)” in the official register and master data.
A Limited Liability Partnership (LLP) can be closed by the partners through one of the following methods:
Declaring the LLP as defunct
Voluntary winding-up
Compulsory winding-up initiated by the Tribunal
An LLP can apply for strike-off by declaring itself defunct for one year or more. This is the simplest closure method, as it does not require a Liquidator or Tribunal. However, certain conditions must be met to opt for this mode (outlined below).
An LLP that has either not started any business since incorporation or has ceased operations can apply for strike-off through this route, provided at least one year has passed since its incorporation.
No, appointing a liquidator or applying to the Tribunal is not required. Liquidator appointment is only necessary for voluntary or compulsory winding-up of the LLP.
No, appointing a liquidator or applying to the Tribunal is not required. Liquidator appointment is only necessary for voluntary or compulsory winding-up of the LLP.
If the LLP is still active, partners must wait for one year from the date of the last transaction before opting for this closure method. Alternatively, if they do not want to continue the LLP, they can choose the winding-up process with the assistance of a liquidator.
Yes, application of the surrender of PAN Card is required to be made. This service is not included in our package.
The payment of stamp duty and notary on the affidavit and indemnity bond will be required to be completed by the client form their concerned state or city.
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