LLP Strike off with inactive bank accounts Archives

A Complete Guide on LLP Strike off with inactive bank accounts Introduction LLP (Limited Liability Partnership) is a popular form of business entity in India that offers the benefits of both a partnership and a company. LLPs are regulated by the LLP Act, 2008 and are required to comply with various regulations and rules. However, some LLPs may become inactive or non-operational due to various reasons such as financial difficulties, change in business plans, or personal reasons. In such cases, it is important to apply for LLP strike off with inactive bank accounts to avoid penalties and legal issues. LLP Strike Off with inactive Bank Accounts LLP strike off refers to the process of closing down an LLP by removing its name from the Register of Limited Liability Partnerships maintained by the Ministry of Corporate Affairs (MCA). Striking Off an LLP can be voluntary or initiated by the Registrar of Companies (ROC). LLP strike off with inactive bank accounts means that the Limited Liability Partnership has no active bank accounts and the bank accounts have not been operational for a specified period. What are the steps to apply for LLP Strike Off with Inactive Bank Accounts? The process of applying for LLP strike off with inactive bank accounts involves the following steps: Step 1: Prepare the necessary documents The first step is to prepare the necessary documents required for LLP strike off with the bank accounts that are inactive. These documents include the following: Application for strike off in Form 24 Statement of accounts in Form 8 Consent of all partners in Form 17 Copy of resolution passed by partners for LLP closure Copy of latest ITR filed with the Income Tax Department Affidavit signed by all partners declaring that the LLP has no assets and liabilities NOC from the concerned regulatory authority if the LLP is regulated by any regulatory authority Step 2: File the application with the ROC Once the necessary documents are prepared, the next step is to file the application for LLP strike off with inactive bank accounts with the ROC. The application can be filed online on the MCA website or through a professional such as a chartered accountant or a company secretary. Step 3: Wait for approval from the ROC After the application is filed, the ROC will review the application and may request additional information or documents if required. Once the ROC is satisfied that all the requirements have been met, it will issue a notice in the Official Gazette and on its website stating that the LLP has been struck off from the Register of LLPs. Conclusion In conclusion, Striking off is a legal process that involves preparing the necessary documents, filing the application with the ROC, and waiting for approval. It is important to ensure that all the statutory dues are cleared before applying for Strike of a Limited Liability Partnership with inactive bank accounts to avoid penalties and legal consequences. By following the process and requirements laid down by the LLP Act, 2008, LLP closure can be a smooth and hassle-free process. It is also recommended to seek the guidance of a professional such as a chartered accountant or a company secretary to ensure that all the requirements are met and the process is completed correctly.