Winding Up Of Llp

Ø Winding Up of LLP

An LLP being an artificial person which comes into existence through legal proceedings cannot die a natural death & hence can cease to exist Through Legal proceedings

Dissolution is an event wherein the name of LLP is removed from the register of LLP’s and the fact is notified. Dissolution puts an end to the existence of a LLP.

PROCEDURE

When partners decide amongst themselves to stop and close the LLP. LLPs can be wound-up in the following steps:

LLPs can be wound-up voluntarily by passing a resolution with the approval of at least 3/4th of the total number of partners. If the LLP has lenders, secured or unsecured, then the approval of the lenders would also be required for winding up of the LLP by adopting the following procedure

1.     Passing of Resolution ( Attached as an Annexure –A)

2.     Consent letter from designated partners. ( Attached as an Annexure –B)

3.     Approval of Creditors (NOC). ( Attached as an Annexure –C)

4.     Prepare a statement of Accounts. (Attached as an Annexure –D)

5.     Affidavit. (Attached as an Annexure –E)

6.      Indemnity Bond. ( Attached as an Annexure –F)

7.     Application filing for closure of LLP. (Eform-24)

 

 

 

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