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 liaSection 63, 64 and 65 of LLbilities of thP Act 2008 governs the process for winding up of the LLP. It is the process where all the assets of the business are disposed off to meet thee same and surplus any, is distributed among the owners.

How do you close an LLP?
The following procedure can be followed for closing a LLP by filing Form 24:

  1. Step 1: Cease Commercial Activity. …
  2. Step 2: Close Bank Account(s) …
  3. Step 3: Prepare Affidavits & Declaration. …
  4. Step 4: Prepare Documents. …
  5. Step 5: File Any Pending Documents. …
  6. Step 6: Obtain Chartered Accountant Certificate. …
  7. Step 7: File LLP Form 24.

Can a newly incorporated LLP be closed?

An LLP can strike off its business by adopting any of the following two ways: Declaring LLP as Non-functioning: When ana LLP is not carrying the business for one or more years or it wants to close down its business, it can make an application to the registrar to declare the LLP as defunct and remove its name.

Which is the last step to end LLP?

LLPs can be voluntarily wound-up by passing a resolution with the consent of at least 3/4th of the total number of partners. A replica of the resolution should be filed with the Registrar on Form 1 within the 30 days of passing the resolution.

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