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Closure of LLP

The closure of a Limited Liability Partnership (LLP) requires a formal dissolution process where the partnership business is closed, liabilities are settled, and assets are distributed among the partners. The closure process starts with the partners passing a resolution to dissolve the LLP and filing the necessary documents with the Ministry of Corporate Affairs (MCA). The partners must ensure that all debts and liabilities are paid off and that the required forms, like Form 24, are filed for dissolution. Once the closure process is completed, the LLP is officially struck off from the records of the Registrar of Companies (ROC), and the business ceases to exist as a legal entity. Proper closure ensures that there are no outstanding liabilities, and the dissolution complies with the legal requirements of the LLP Act, 2008.

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