How to Start a CLOSE INACTIVE LLP (FORM 24)

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Close Inactive LLP (Form 24)

Close Inactive LLP (Form 24) – An Overview

Closing an Inactive LLP through Form 24 is the legal process of voluntarily striking off the name of a Limited Liability Partnership (LLP) from the records maintained by the Registrar of Companies (ROC). An LLP that has ceased business operations, has no outstanding liabilities, and satisfies the prescribed eligibility conditions may apply for closure by filing Form 24 under the provisions of the Limited Liability Partnership Act, 2008.

The Form 24 process enables inactive LLPs to discontinue their legal existence while avoiding future compliance obligations, annual filing requirements, and penalties associated with maintaining an inactive entity. Before filing the application, the LLP must settle all liabilities, close its bank account (where applicable), obtain the consent of all partners, and complete the necessary statutory compliances.

Upon successful verification of the application, the Registrar of Companies strikes off the LLP's name from the register, and the LLP is legally dissolved.

At CAANYTIME, we provide complete assistance for the closure of inactive LLPs through Form 24, including eligibility assessment, document preparation, ROC filing, compliance review, and end-to-end professional support.

Benefits of Closing an Inactive LLP (Form 24)

Eliminates Future Compliance Burden

Avoids annual LLP filings and recurring statutory compliance requirements.

Reduces Operational Costs

Eliminates expenses associated with maintaining an inactive LLP.

Legal Closure of LLP

Provides a legally recognized process for dissolving an inactive LLP.

Avoids Future Penalties

Prevents late filing fees and penalties arising from non-compliance.

Simplifies Business Exit

Offers an efficient exit option for LLPs that are no longer operational.

Ensures Regulatory Compliance

The closure process is completed in accordance with the LLP Act, 2008.

Peace of Mind

Provides formal closure of the LLP after completion of the strike-off process.

Who Can Apply for LLP Closure through Form 24?

This service is suitable for:

  • Limited Liability Partnerships (LLPs)
  • Inactive LLPs
  • LLPs Not Carrying on Business
  • LLPs with No Outstanding Liabilities
  • Startup LLPs that Have Discontinued Operations
  • Professional Service LLPs
  • Family-Owned LLPs
  • Small Business LLPs
  • LLPs Seeking Voluntary Closure

Note: The LLP must satisfy the eligibility conditions prescribed under the LLP Act, 2008 before filing Form 24.

Documents Required for Closing an Inactive LLP (Form 24)

The following documents are generally required:

  • LLP Incorporation Certificate
  • LLP Agreement
  • PAN of the LLP
  • Statement of Accounts Certified by a Chartered Accountant
  • Affidavit from Designated Partners
  • Consent of All Partners
  • Identity & Address Proof of Partners
  • Digital Signature Certificate (DSC)
  • Bank Account Closure Proof (where applicable)
  • Income Tax Return Acknowledgement (if applicable)
  • Other Supporting Documents

Procedure for Closing an Inactive LLP (Form 24)

Step 1: Eligibility Assessment

Our experts verify whether the LLP satisfies the prescribed conditions for voluntary closure.

Step 2: Compliance Review

The LLP's statutory filings, liabilities, and compliance status are reviewed.

Step 3: Preparation of Documents

Affidavits, partner consents, statement of accounts, and other required documents are prepared.

Step 4: Preparation & Filing of Form 24

Form 24 along with the prescribed supporting documents is prepared and filed with the Registrar of Companies.

Step 5: ROC Verification

The Registrar examines the application and may seek additional information or clarification, if required.

Step 6: Strike Off of LLP

Upon successful verification, the Registrar removes the LLP's name from the register and approves the closure.

Step 7: LLP Dissolution

The LLP is legally dissolved, and its future statutory compliance obligations come to an end.

Why Choose CAANYTIME for Closing an Inactive LLP?

At CAANYTIME, we provide complete assistance for LLP closure through Form 24 with accurate documentation, timely ROC filing, and complete legal compliance.

Our services include:

  • Eligibility Assessment
  • Compliance Status Review
  • Documentation Preparation
  • Statement of Accounts Assistance
  • Form 24 Filing
  • ROC Compliance Support
  • Query Resolution Assistance
  • Dedicated LLP Compliance Expert