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Unlike Company closure, it is mandatory for an LLP to file certain compulsory returns, no matter, the business is operating or not. Penalties and legal action are imposed under the LLP Act to the designated partners for non-filing of due returns on time. LLP continues to exist until there is a formal closure of LLP. LLP must be inactive since one year or does not possess any liability or assets on the date of filing for the closure of LLP. With the consent of all the partners of LLP, an application must be made to the registrar for removing the name from the register of companies. If the LLP possess the assets and bank balance, it can not be removed from the register.
Once, the application for closure of LLP is filed, the process takes 3 to 6 months to completely remove the name from the register of companies. Once approved, the ministry puts up the application for the general public for about one month and later issue an order regarding name removal from the register. The notice of removal is published in the official gazette later by the ministry of corporate affairs. It is mandatory for all the partner to consent for the closure and provide executed affidavits and indemnity stated under LLP guidelines.
The LPP stands for Limited Liability Partnership it is a better version of a general partnership firm. It is governed by limited liability partnership act 2008.
Minimun 2 Partners are required to start a LPP. There are no limit on the mximum number of in a LPP.
Unilike a private ltd company no minimum capital required to start a LPP.
A legal proof of LPP is certificate incorporation as well as LPP agreement.
LPP agreement is similar to a partnership deed where all the rights, liabilities and share of profit and loss are mentioned/drafted.
Name allotment as desired by you is wholly a discretionary power of ROC. Normally ROC is allot your desired business name if it is unique and not resemblinding with any existing company/LPP.
Yes, DSC of an authorised director is required while in corporating an LPP.
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No, You don't need to be a physically present for the process.E-startupindia is an online catering platform all you need is internet connection in your phone/desktop and required document with and we can get the job done no matters even you are present at remotest location of the india.