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Winding up of a Limited Liability Partnership (LLP) is the legal process of closing down its operations and distributing its assets to settle liabilities. It results in the formal dissolution of the LLP and removal of its name from the Registrar of Companies (ROC). The winding-up process can be either voluntary or compulsory, depending on the circumstances. We provide expert assistance in executing the winding-up process efficiently and in full compliance with the law.

Why Opt for LLP Winding Up Services?

Winding up an LLP involves multiple legal formalities, including board resolutions, creditor meetings, drafting of winding-up petitions, and filing necessary forms with the ROC. Any mistakes or non-compliance can result in penalties and delays. We ensures a smooth, accurate, and hassle-free winding-up process by handling all the legal documentation and statutory requirements.

Key Benefits of LLP Winding Up

1. Complete Legal Compliance: Adherence to the provisions of the Limited Liability Partnership Act, 2008.

2. Accurate Documentation: Drafting of resolutions, statements of assets and liabilities, and necessary filings.

3. Efficient Closure: Proper settlement of liabilities and removal of the LLP’s name from the ROC.

4. Expert Assistance: Professional support throughout the winding-up process.

Types of LLP Winding Up

1. Voluntary Winding Up: Initiated by the partners of the LLP.

2. Compulsory Winding Up: Ordered by the Tribunal due to insolvency or other legal grounds.

Eligibility for LLP Winding Up

• Partners' Resolution: Consent from all or a majority of partners to initiate winding up.

• Solvency Declaration (for Voluntary Winding Up): A declaration stating that the LLP is solvent and can repay its debts.

• ROC Filings: Submission of necessary forms, such as Form 24, for the removal of the LLP’s name.

• Settlement of Liabilities: Ensure all dues and obligations are cleared before winding up.

Post-Winding Up Compliance

• Final Accounts Submission: Preparation and submission of the final statement of accounts.

• ROC Filings: Filing of the winding-up resolution and final statement with the ROC.

• Dissolution Certificate: Obtain the official certificate of dissolution from the ROC.

• Stakeholder Notification: Inform all stakeholders, including creditors and partners, about the dissolution.

Our LLP Winding Up Process

1. Consultation: Understand the reason and type of winding up.

2. Documentation: Draft resolutions, statements, and necessary petitions.

3. Filing: Submit the winding-up applications and supporting documents to the ROC.

4. Liquidation and Distribution: Settle liabilities and distribute remaining assets among partners.

5. Closure: Obtain the final dissolution certificate and update all stakeholders.

Rely on us for a seamless and legally compliant LLP winding-up process. Get in touch with our experts today!