Overview
A Limited Liability Partnership (LLP) is a preferred business structure in India because it combines the flexibility of a partnership with the limited liability of a company. However, when an LLP stops operating, faces financial difficulties, or its partners no longer wish to continue, it must be legally closed through a winding-up process. Winding up ensures that the LLP’s legal existence is formally brought to an end and all its liabilities are settled.
In India, an LLP can be wound up either voluntarily by its partners or compulsorily by the National Company Law Tribunal (NCLT). Voluntary winding up occurs when the partners mutually decide to close the business, while compulsory winding up is ordered by the Tribunal in cases such as insolvency, fraud, or failure to file annual returns for five consecutive years. Proper closure prevents future penalties and compliance burdens.
Winding up is not just about stopping business operations—it involves legal procedures governed by the Limited Liability Partnership Act, 2008 and the LLP (Winding Up and Dissolution) Rules, 2012. It requires submitting several declarations, clearances, and forms to the Registrar of Companies (ROC) to ensure lawful dissolution.
At BizGlobal, we simplify the entire winding-up process for LLPs. From drafting resolutions and preparing the statement of accounts to filing the required forms and liaising with the ROC, our team handles every step with accuracy and care. Whether your LLP is inactive or facing compliance issues, BizGlobal ensures a quick, compliant, and stress-free closure.
