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LLP dissolve
LLP created in April 2019 there is no business conducted by LLp since incorporation, no form filled by LLP except form 3, how to dissolve the LLP
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| There are two ways to dissolve an LLP in India: 1. Strike Off (Fast Track Exit — FTE) under Rule 37 of LLP Rules: - Available if LLP has not commenced business OR has been inactive for 1 year or more - Steps: Pass resolution of all partners to strike off → File Form 24 on MCA portal with: affidavit by designated partners, indemnity bond, statement of accounts (nil assets & liabilities), consent of all partners, NOC from regulatory authorities if applicable - The Registrar strikes off the LLP name from the register - This is the simpler and faster method — no court involvement 2. Winding Up by Tribunal (Compulsory Winding Up): Under Section 64 of the LLP Act, the Tribunal can order winding up in specific circumstances (just and equitable, unable to pay debts, etc.). This involves a liquidator, settling creditor claims, and court process — applicable for LLPs with liabilities/disputes. 3. Voluntary Winding Up: Not yet fully notified under the LLP Act as of 2022 — most voluntary closures use the Strike Off / Form 24 route. 4. Pre-conditions for Strike Off: - All pending annual filings (Form 8 and Form 11) must be filed and up to date - All taxes, dues, and liabilities must be cleared - Bank accounts closed - GST registration cancelled - No pending litigation 5. Timeline: Strike off via Form 24 typically takes 3-6 months after filing, subject to Registrar processing time. 6. After Strike Off: Partners are released from ongoing compliance obligations. However, personal liabilities (if any) survive the LLP's dissolution. |
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