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Set up a sole Winding Up - LLP

  • Take your first step towards winding up your Business. A LLP not commenced its business within one year from the date of incorporation/inactive for two years.
proprietorship

Register Winding Up - LLP Firm Online through Compliance Gurukul

You can easily complete Winding Up - LLP firm registration online through Compliance Gurukul. For a sole Winding Up - LLP registration, only the PAN & Aadhaar card of the business owner is required. We can help you obtain the following registrations in less than 15 days:

  • GST Registration
  • Zero-Balance Business Current Account with Compliance Gurukul Software

Once, you have registered for the Winding Up - LLP firm registration online on Compliance Gurukul, please follow the steps below and upload the following documents by logging into Compliance Gurukul Software.

  • Step 1: Login to Compliance Gurukul Software using the email address for payment.
  • Step 2: Go to Services Tab & Select Winding Up - LLP Engagement
  • Step 3: Upload your PAN & Aadhar Card Copy
  • Step 4: An Compliance Gurukul Registration Expert will file the registration application with GST Department and Bank for Current Account.
  • Step 5: Access to Compliance Gurukul Software is for GST invoicing, GST filing and other services.

Winding up of an LLP

Winding up a Limited Liability Partnership (LLP) involves legally dissolving the entity by settling its debts, liquidating its assets, and distributing the remaining assets to the partners. This process can be initiated voluntarily by the partners or compulsorily by a tribunal for various reasons such as insolvency, inactivity, or breach of laws. Navigating the complexities of winding up requires a thorough understanding of legal procedures, compliance requirements, and financial management. LLP members need to approach this process methodically to ensure a smooth dissolution of LLP firm, safeguarding the interests of all parties involved.

What is the Winding up of LLP?

Winding up of a Limited Liability Partnership (LLP) refers to the formal process of closing down the LLP's operations, disposing of its assets, and settling its liabilities. This process is undertaken when an LLP ceases its business activities and dissolves as a legal entity.

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Document requirement For Winding Up - LLP

  • Company PAN Scan Copy
  • Director's Pan
  • Bank Account Closure Letter
  • Bank Statement
  • GSTR-10 Filed Acknowledgement

Timelines

A sole Winding Up - LLP firm registration can normally be done in India through Compliance Gurukul in max 2 weeks. However, the timelines for registration will vary from case to case, depending on the government and bank processing timelines.

Winding Up - LLP FAQ's

Winding up an LLP means legally closing the partnership and liquidating its assets. It involves settling debts, distributing remaining assets, and ending the LLPs operations organizationally. The partners can do it voluntarily or through a court order in specific situations.

Winding up an LLP can occur due to various reasons, such as completion of the LLPs objectives, financial difficulties, insolvency, or unanimous decision of the partners

The compulsory winding up of an LLP can be initiated by the Tribunal based on certain grounds, and it involves filing a winding-up petition, appointing a provisional liquidator, conducting investigations, and settling debts.

The designated partners are responsible for facilitating the winding up, cooperating with the liquidator, preserving and providing necessary records, and ensuring compliance with legal requirements.

Winding up may result in the dissolution of the LLP, ceasing its operations, and distributing the remaining assets to settle the debts and obligations to the creditors. The partners may have liability, if any, based on their contributions.

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