The Ministry of Corporate Affairs has introduced the Limited Liability Partnership (Amendment) Rules, 2017 whereby the defunct Limited Liability Partnerships can apply for striking-off their names from the register of names.
A Limited Liability Partnership which has ceased to carry on its business operations for the period of one year or more can apply for striking-off (removal) of its name from the records of Registrar by filing an application to the Registrar of Companies (ROC) in the prescribed Form 24.
It is very important for a LLP making the application to the registrar for striking-off its name to file its overdue Statement of Accounts (Form 8) and Annual Return (Form 11) till the end of financial year in which the LLP has ceased to carry on its business or commercial operations.
Highlights of Filing LLP Form 24
LLPs that never commenced business operations or have ceased commercial activity only are required to file Form 24.
Any bank account opened in the name of the LLP must be closed and a letter evidencing closure of the bank account in the name of the LLP must be obtained from the Bank.
Any overdue returns in Form 8 and Form 11 up to the end of the financial year in which the limited liability partnership ceased to carry on its business or commercial operations must be filed before filing LLP Form 24.
If the original LLP agreement has not yet been filed with MCA from the date of incorporation of LLP or upon any amendments made to it, the LLP must file the same before filing LLP Form 24.
THE FORM 24 SHALL BE FILED WITH THE FOLLOWING ATTACHMENTS:
- A Statement of Account disclosing nil assets and nil liabilities, certified by a Chartered Accountant in practice made up to a date not earlier than 30 days of the date of filing of Form 24.
- An affidavit individually by the designated partner.
- A copy of the acknowledgement of the latest Income-tax return filed where the LLP has carried out any business and has filed such return.
- Copy of the initial LLP agreement, if entered into and not filed, along with changes thereof in cases where the LLP has not commenced business or commercial operations since its incorporation.
- Consent by each partner to make the application
- Indemnity Bond- jointly or severally by Designated Partners
- Authority Letter signed by each designated partner
- Address and ID proofs of the Designated Partners.
Procedure To Get Limited Liability Partnership Struck-Off From The Register Of Companies
Cessation of Activities
- Board Meeting
- Publication of Notice
- Discharge Liabilities
- Notice of Dissolution