CLOSURE OF PUBLIC LIMITED COMPANY

CLOSURE OF PUBLIC LIMITED COMPANY

EVERY LLP INCORPORATED UNDER THE PARTNERSHIP ACT, 1932 HAVE SOME OBJECTIVES. IN CASE WHERE A LLP HAS NOT BEEN SUCCESSFUL IN ACHIEVING ITS OBJECTIVES DUE TO ANY REASON THAN SUCH LP CAN VOLUNTARILY BE CLOSED BY THE DESIGNATED PARTNERS OF THE LLP.

DETAILS AND PROCEDURE WHICH ARE REQUIRED TO CLOSE A LIMITED LIABILITY PARTNERSHIP:-

  1. CALL A BOARD MEETING TO PASS A RESOLUTION FOR THE PURPOSE OF STRIKE-OFF OF LLP.
  2. LLP MUST PAY OFF ALL OF ITS LIABILITIES AFTER PASSING THE RESOLUTION.
  3. FILING OF E-FORM LLP 24 (FORM FOR STRIKING OF NAME OF THE LLP) WITH THE REGISTRAR ACCOMPANYING WITH PRESCRIBED FEE.
  4. HOWEVER, E-FORM LLP 24 INCLUDES:-

    A. STATEMENT OF ACCOUNT WHICH ARE CERTIFIED BY CHARTERED

    B. ACCOUNTANT AND SHOULD NOT BE OLDER THAN 30 DAYS FROM THE DATE OF ITS APPLICATION.

    C. STATEMENT OF ACCOUNT of LLP SHOULD GIVE TRUE & FAIR VIEW.

    D. STATEMENT OF ACCOUNT SHOWS NIL ASSETS AND LIABILITIES AT THE TIME OF FINAL APPLICATION.

    E. ACKNOWLEDGEMENT OF INCOME TAX RETURN.

     F. COPY OF INITIAL LIMITED LIABILITY PARTNERSHIP AGREEMENT.

     G. BANK CLOSURE CERTIFICATE.

     H. INDEMNITY BOND.

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