Winding up a Limited Liability Partnership (LLP) in India offers several benefits. Firstly, it helps partners avoid accumulating further liabilities by closing a non-performing or insolvent business. Secondly, it allows for a systematic distribution of the LLP's assets, ensuring that debts are settled, and any remaining resources are fairly divided among the partners. Additionally, it provides a clean break from the business, preventing any future legal or financial complications. Finally, winding up ensures compliance with legal requirements, safeguarding the partners from penalties or legal action for non-compliance.

To wind up an LLP in India, several documents are required throughout the process

• Resolution for Winding Up : A certified copy of the resolution passed by the partners to wind up the LLP.
• Statement of Accounts : A statement of accounts showing the LLP's financial position, prepared up to the date of the resolution.
• Affidavit of Solvency : An affidavit signed by the majority of the partners stating that the LLP has no debts or that it can pay its debts within one year.
• Consent of Creditors : If the LLP has debts, written consent from the creditors for the winding-up process.
• Appointment of Liquidator : A document appointing a liquidator, including their consent and details.
• Final Accounts and Liquidator's Report : The final accounts and a detailed report prepared by the liquidator, outlining how the assets were disposed of and how the winding-up was conducted.
• Application to Tribunal (if applicable) : A formal application to the National Company Law Tribunal (NCLT) for dissolution, including supporting documents like the liquidator’s report.
• Dissolution Order : The order from the NCLT confirming the dissolution of the LLP.
• Form 24 : The prescribed form under the LLP Act, 2008, filed with the Registrar to remove the LLP’s name from the register.

These documents must be prepared and submitted at various stages of the winding-up process to ensure legal compliance and proper closure of the LLP.

At SS Auditors and Taxes Co., we provide comprehensive support throughout the winding-up process of your LLP in India, ensuring a smooth and legally compliant closure. Our services include

• Advisory Services : We guide you through the initial decision-making process, helping you understand the implications and benefits of winding up your LLP.
• Documentation Assistance : We assist in preparing all necessary documents, including the resolution for winding up, statement of accounts, affidavit of solvency, and consent from creditors.
• Liaison with Authorities : Our team manages the filing process with the Registrar of Companies and, if required, prepares and submits applications to the National Company Law Tribunal (NCLT) on your behalf.
• Liquidator Appointment and Support : We help appoint a qualified liquidator and provide ongoing support to ensure the liquidation process is conducted efficiently and in compliance with legal requirements.
• Final Accounts and Reporting : We assist the liquidator in preparing the final accounts and report, ensuring all assets are appropriately distributed, and debts are settled.
• Filing Form 24 : We handle the submission of Form 24 and other necessary documents to remove the LLP's name from the register, completing the winding-up process.
• Post-Winding-Up Compliance : We offer post-winding-up support to address any residual compliance issues or queries, ensuring a clean exit from the business.

Our expert team at SS Auditors and Taxes Co. is committed to providing you with seamless and hassle-free assistance, ensuring that your LLP is wound up efficiently and in full accordance with Indian laws.