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Close your LLP

The Ministry of Corporate Affairs has recently amended Limited Liability Partnership Rules, 2009 by introducing the Limited Liability Partnership (Amendment) Rules, 2017 with effect from 20th May, 2017. With this amendment, LLP Form 24 has been introduced by the MCA and it is now possible to easily close a LLP by making an application to the Registrar for striking off name of LLP. In this article, we look at LLP Form 24 and the procedure for striking off name of LLP in detail.

Winding up of LLP made easy!

Here’s everything you need to know:

An LLP is eligible to shut down under the following conditions:

  • The LLP must be dormant for at least a year, or inoperative as of the date of formation.
  • On the date of application, the LLP shouldn't have any assets.
  • All partners should approve the LLP winding down.
  • The LLP should have no debts or be able to pay off all of its debts.

Partners’ PAN card

Partners’ Aadhar card

Latest address proof of partners

Consent letter

When a limited liability partnership is dissolved, the following steps must be taken:

1. The Registrar or the LLP itself can file an application for striking off the name of LLP from the Register of Limited Liability Partnerships.

2. On receiving this application, the Registrar sends out a notice to all partners and all other people who have been mentioned in any documents submitted by the LLP for registration. This notice informs these people about his intention to remove the name of the LLP from the register and asks them to send their representations along with copies of relevant documents within one month from the date of notice (which should also be placed on MCA website).

3. After one month has passed without any adverse representations being received, if satisfied about striking off name of LLP, Registrar may strike off name of LLP from Register and publish a notice in Official Gazette. On publication of notice in Official Gazette, LLP stands dissolved automatically

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