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In India, every year more than tens of thousand of LLPs get registered and majority of them do not even start their business. The Founders of these LLPs go back to their jobs or get aside leaving the business as it is.
Did you know? It may cause you (as Designated Partners) troubles from the Regulatory Department like Income Tax, Registrar of Companies and others. Yes, you read it right. It is a prudent idea to close down the LLP to get relief from litigation and at the same time saving your DPIN getting disqualified.
We at Compliance Calendar LLP have a team of Experts who can help you close your LLP hassle free. You just have to share your LLP details, assist us in complying with the Fast Track Exit Scheme for closure of LLP and leave the rest on us. We have helped plenty of LLPs in successful closure like yours.
A Limited Liability Partnership is created by law; therefore, it can be closed under the guidelines framed under statute only.
As per the section 37 of the Limited Liability Partnership Act, 2008 and the rules framed thereunder, a LLP which has been non-operational for more than 1 year and has no business can apply for closure subject to the conditions that its annual returns are filed with the Registrar of Companies along with the ITR.
Any LLP desirous to get its name struck off from the register shall file an application in the prescribed form with the ROC with the below procedures:
When the purpose of the LLP is not served and it is not able to generate profits for its partners, the existence of the LLP is closed legally by filing necessary forms to the Govt. Dept. The MCA has launched a new scheme for those who could run their LLPs due to any reason and now want to close the LLP by spending less and be relieved.
Any LLP which has been inoperative for more than 1 year from the date of its incorporation or has not done any business can apply for Closure of LLP under FTE scheme.
A LLP which is eligible under Fast Track Exit (FTE) Schemes can apply for closure by filing Form 24 with the concerned ROC with necessary documents as required under the LLP Act, 2008.
Yes, just make sure first that your DPIN is active and the LLP has already not been struck off by the ROC. You can share your LLP details and we will provide a free consultation to assist your further in this matter.
To do this, we file form 24 for the removal of your LLP name from the Register of Companies and which are non-functional over a period of time. It is the quickest and easiest way of Exit Called Fast Track Exit which saves the LLP from going into lengthy liquidation process involving Court/Tribunal Intervention.
The form filing fees of form 24 is Rs. 5,000/- and rest is all about the documentation charges and professional fees. Get in touch with us to get a free quotation from CCL. Our Compliance Manager would be more than happy to provide you all the information you may require.
We are the market experts in compliance and keep you informed with all the changes taking place in the LLP Act, 2008. We can help you with end to end services in getting your LLP closed legally and save you from any non-compliance. It is a legal process so it is prudent to assign the work to a professionally managed firm.