FincomIndia

LLP - Winding Up

An LLP may decide to wind up its business by two modes, either by voluntarily winding up or compulsory winding up.
From Rs 14,999/- Inc. of all taxes

Winding up is processed, where all the assets of the business are disposed off to meet the liabilities of the same and surplus any, is distributed among the owners. An LLP may decide to wind up its affairs voluntarily if the partners are of the opinion that the LLP will be able to pay its debts in full within 12 months after the commencement of the winding up. The LLP has to appoint a liquidator or provisional liquidator to wind up its affairs and file the necessary notifications required under the LLP Act. For more details, please refer to the LLP Act or seek professional advice.

An LLP may decide to opt for creditors’ voluntary winding up if its partners are of the opinion that it cannot by reason of its liabilities continue its business. The LLP will have to convene a meeting of its creditors to allow them to consider its proposal for the company to be wound up. If the creditors agree, the LLP has to appoint a liquidator or provisional liquidator to wind up its affairs and file the necessary notifications required under the LLP Act. For more details, please refer to the LLP Act or seek professional advice.

Salient Features of LLP - Winding Up

Rights and Duties

The rights and duties of partners in an LLP, will be governed by the agreement between partners and the partners have the flexibility to devise the agreement as per their choice. The duties and obligations of Designated Partners shall be as provided in the law. 8. Limited liability of the partners to the extent of their contributions in the LLP. No exposure of personal assets of the partner, except in cases of fraud.

Books of Accounts

 LLP shall maintain annual accounts. However, audit of the accounts is required only if the contribution exceeds Rs. 25 lakh or annual turnover exceeds Rs. 40 lakh. A statement of accounts and solvency shall be filed by every LLP with the Registrar of Companies (ROC) every year.

Designated Partner

The partners have the right to manage the business directly, unlike corporate shareholders. Minimum of 2 partners and no maximum limit.

Liability of Partners

One partner is not responsible or liable for another partner’s, misconduct or negligence.

Transparent And Competitive Pricing

BASIC STANDARD PREMIUM
Winding Up LLP with 2 Partners and No Transactions
Upto Four Partners and Having No Loans or Trade Dues
For All Other Entities
Rs. 20,000
Rs. 14,999
Inc. all taxes
Rs. 25,000
Rs. 19,999
Inc. all taxes
Rs. 60,000
Rs. 44,999
Inc. all taxes
Delivery Process

1. Order Confirmation

Once you confirm the order online one of our executives will get in touch with you to explain all the requirements.

2. Submission Of Documents

We have a facility to pick up documents from your door step at more than 6000 Pin Codes across India. As soon as your documents are ready, we will pick it up from your door step at a date and time as per your convenience.

3. File Documents

We will prepare and file your Documents with Registrar of Companies (ROC).

4. Hurray......It's Done

Once the request for closure of business will be accepted by the ROC, we will provide you the documents received from ROC confirming the Closure of LLP.

Frequently Asked Questions
Application for Striking off of the LLP, Partners Meeting Resolution for closure, Consent of Partners, Partners' Affidavit, Indemnity Bond, Statement of Assets and Liabilities.
It is proposed to provide the provisions and procedures required to be complied with when the affairs of an LLP are to be wound-up and dissolved, by enabling the Central Government to make rules under the LLP Act, 2008.
The filing fees for Form FTE is Rs. 1000.
The Form has to filled be filed with ROC office within 30 days from the date of Signing of the Statement of Assets and Liabilities.
FTE is a company closure scheme initiated by MCA for easy and faster closure for LLP.
If the Company fails to comply with the timelines, a fine or penalty is incurred upon the Directors from starting another Company.
It is necessary to file Closure with the ROC as ROC or MCA data base need to be updated and the LLP is free from all its legal compliances as it is officially closed. Even though business of the company is closed, unless closure documents are filed and approved by the ROC, company is not legally closed and the LLP needs to file all the regular returns.
Any LLP which has been inoperative for more than 1 year or incorporated for more than One year and have no business can apply for Closure under FTE scheme. Form 11 & Form 8 filing need to be up to date, otherwise the closure of LLP may be rejected by ROC
A minimum of two partners will be required for formation of an LLP. There will not be any limit to the maximum number of partners.

Our Presence

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FinComIndia has capability to serve at your door step at more than 6000 Pin Codes across. You have the opportunity to avail our world class services sitting at your home or office itself. This service is free of cost for all the customers. We practically cover the whole of India. Kindly check in the box above for availability of door step services in your city.

Reasons to choose FinComIndia?

PROFESSIONAL EXPERTISE

FinComIndia has a team consisting of more than 75 experts of varied domains which enables us to deliver high quality of services. All our staff is well trained and regularly updated with all relevant statutory changes.

DOOR STEP SERVICES

We pick up all the required documents right from your door step at your preferred time and date and also deliver back the original documents / certificates to your address.

NATION WIDE REACH

We have capability of providing our services across more than 6000 Pin Codes in India. This makes us the front runner in Nation wide reach.

BEST PRICE

We are upfront with our pricing with no hidden fees, Also lowest pricing through automation and technology.

Money Back Guarantee

If you are not satisfied with our work, we will refund the money after deducting the statutory fees paid and other administrative charges.

100% Customer Satisfaction

With our quality of services and professional expertise, we guarantee 100% customer satisfaction.

Giving Back to the Society

In our endeavour to give back to the society, we donate 1% of our profits to various charitable and environmental causes.