In case when LLP has closed down their business or inoperative then LLP can be Shut Down. This Process is known as Stick off name of LLP from register. To shut Down the LLP every Director must furnish Indemnity bond and affidavit declaring that LLP hav no liability and LLP is not carring on any business since last 1 year or any other ground as may be appropriate.
Prerequisite for LLP Closing
- All compliances must be complied
- There is no liabilities in the name of the LLP
- LLP is not Carring on Business
- All Partner are agreed to close down LLP
- ITR of LLP is filed
| Documents Required for LLP Closing | Benefit of LLP Closing |
| 1. Affidavit by all partner 2. Indemnity Bond 3. Statement of Asset and Liability 4. Application for struck off |
1. Saving of penalty 2. Partner will not be defualter list 3. Saving off annual cost |