LLP Closure
Consult our experts for end-to-end assistance in closing an inactive or inoperative Limited Liability Partnership (LLP).
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Step-by-Step LLP Closure Process
From document collection to final approval — every step made simple and transparent.
Closure of LLP Bank Accounts
All bank accounts held in the name of the LLP must be properly closed before initiating the closure process.
Settlement of Assets and Liabilities
Dispose of any existing assets and clear all outstanding liabilities to ensure the LLP has no financial obligations.
Partner Consent for Strike-Off
Obtain written consent from all partners approving the strike-off and closure of the LLP.
Preparation of Closure Documents
Draft all necessary affidavits, declarations, and supporting documents required for LLP closure.
Filing of Form LLP-24
Submit Form LLP-24 with the Registrar of Companies to officially apply for the strike-off of the LLP.
LLP closure refers to the legal process of bringing an LLP’s existence to an end. When a business is no longer viable or operational, the LLP may be formally closed to remove its name from the register. Closure may become necessary due to reasons such as prolonged inactivity, continuous financial losses, internal disputes, inability to repay debts, or the demise of a key partner or managerial person.
Reasons for Closing an LLP
An LLP may be closed for various business and operational reasons, including non-operation for an extended period, completion of a specific project for which the LLP was formed, persistent losses, disputes among partners, inability to meet financial obligations, or strategic decisions to discontinue the business.
When Can an LLP Apply for Closure?
An LLP can apply for closure when it has ceased business operations or has not carried out any business activity for one year or more. In such cases, an application may be made to the Registrar of Companies to declare the LLP as defunct and strike its name off the register, in accordance with Rule 37 of the LLP Rules.
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