Before initiating the closure, ensure the LLP meets these criteria: 

1. No Transactions for 1 Year: The LLP must not have carried out any business or transactions for at least one year. 

2. No Outstanding Liabilities: All debts, dues, and liabilities must be cleared. 

3. Up-to-Date Filings: All statutory filings, including annual returns and tax returns, should be submitted. 

4. Creditor Consent: If applicable, a No Objection Certificate (NOC) must be obtained from creditors. 


Closure Process

1. Partner Consent: Pass a resolution agreeing to close the LLP. 

2. Prepare Documents:

   -Affidavit and Indemnity Bond: Declaration by partners about zero liabilities.

   -Statement of Accounts: A financial statement not older than 30 days.

   -Resolution Copy: Document showing partner agreement. 

3. File Form 24: Submit Form 24 with the MCA portal along with the required documents. 

4. Approval by RoC: The Registrar of Companies will review the application. If all conditions are met, the LLP’s name will be struck off the register.


Key Notes

– The process takes 4–6 months. 

– Ensure all filings are up to date to avoid rejection. 

– LLPs with pending liabilities or active transactions cannot be closed without resolving them.

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