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LLP

Filing a Roc Application for LLP Closure

This blog will take us into the process of closing a Limited Liability Partnership (LLP) through ROC (Registrar of Companies) applications. Discover the relevant ROC forms, applicable fees, and frequently asked questions. Explore the dissolution process, the importance of affidavits, and the potential consequences of non-compliance with ROC regulations. Gain insights into the necessity of adhering to ROC requirements for a smooth LLP closure.

In some circumstances, you may want to close your company as an ‘LLP’ instead of a corporation. This is known as’ closing an LLP’. For filing a Roc application for LLP closure, you will need to

  • Filing a company application with RoC
  • Providing a completed and signed ‘closing form’
  • Getting your business registered with RoC
  • Paying any outstanding fees
  • Ending the company

The Best Way to Close an LLP

Ideally, you would be able to close your company without going through the closing process with a “soft close” process. This is because you would prefer to pay the fees and have your business shut down by a certain date so that you can end your involvement with it. However, if you do have to go through the closing process, here are some tips that could help you with filing a Roc application for LLP closure more efficiently.

  • Be as upfront as possible with RoC about what you want to do. Be honest and straightforward and do not try to cover up any mistakes you may have made.
  • If possible, try to complete the closing with your own attorney. An attorney has the knowledge and experience to help you complete the closing and will be able to review your documents and provide you with legal advice.
  • If you are unable to complete the closing with your attorney, you can always hire a legal services provider or attend a closing with a professional.
  • If you are using a legal services provider, make sure to get a written guarantee that the services provided are accurate and up-to-date. Make sure to check the status of your company on the law firm’s website so you know where you are up-to-date.
  • When you are done with the closing, send your paperwork to the law firm so they can start the official “filing” process.
  • Make sure to keep your paperwork safe and secure. You may need to provide a copy of your paperwork to RoC in the future in case they need to start an official investigation.
  • Once the closing is complete, send your company documents to the law firm so they can officially “file” the closing.

When Can You Close Your LLP?

Typically, there are two times when you should look for filing a Roc application for LLP closure:

  • when you are no longer able to continue as the primary business owner. In this case, you will need to hire a “secondary” owner to assume 100% of your duties.
  • When you want to wind down your business, This can mean several different things. For example, you want to sell your interest to raise cash, you want to retire, or you want to close your business due to non-payment of taxes or other liabilities.

Is there a Process for LLP Closing by Filling in an Application With ROC?

In simple terms, you apply to RoC to close your company. RoC then sends you a “closure package” which includes information about the company, the required documents to be submitted with the application, and instructions on how to close the company. You can then go through the closing formalities process at your chosen law firm.

How to Close a Company With Roc

You can close a company with RoC using a “soft close” process. This means you can close your company without going through the formalities and having to pay any fees. This is ideal if you have a small company and want to complete the closing by yourself. To close a company with Roc, you will need to

  • Filing a company application with RoC
  • Providing a completed and signed ‘closing form’
  • Getting your business registered with RoC
  • Paying any outstanding fees
  • Ending the company

How Much Time Will It Take to Close an LLP

The closing time will depend on a number of things, such as:

  • The complexity of your business.
  • The number of shareholders you have
  • The state of your business
  • The law firms involved
  • The desired closing date
  • The actual date of closure

Is There a Phone App for Closing an LLP?

The best way to close a Limited Liability Partnership through an App is with services like Zolvit which allows you to consult with an attorney or use the telephone app on your computer.

Get Help for filing a Roc application for LLP closure!

When you have your paperwork in order and are ready to close your company, visit one of our offices or fill out an online form. There are many online closing forms, but you will need to fill out an online form when you are closing your company with Roc.

The online forms are available 24/7 and take only a few minutes to complete. Once you have applied with RoC and been approved, you can now get on with the business of closing your LLP. This process is known as “filling an application”. You can do this by visiting one of our offices or filling out an online form. The online forms are available 24/7 and take only a few minutes to complete. If you have any questions, feel free to contact us using the information below.

All this can be extremely complicated and time-consuming. Reach out to the experts at Vakilsearch for filing a Roc application for LLP closure handled easily and efficiently.

FAQs on ROC forms are applicable for LLP closure:

Which ROC forms are applicable for LLP closure?

The relevant forms for LLP closure include Form 11 and Form 3.

Is ROC applicable for LLP closure?

Yes, ROC (Registrar of Companies) compliance is essential for closing an LLP.

Is ROC charge mandatory for LLP closure?

Yes, ROC charges are mandatory to ensure legal compliance during LLP closure.

What is Form 11 for LLP closure?

Form 11 is a statement that LLPs need to submit for closure, declaring solvency or insolvency.

What is the ROC fee for LLP closure?

ROC fees for LLP closure vary based on factors like the LLP's financial status and other specifics.

Can we close LLP without filing Form 3?

No, filing Form 3 is crucial for the LLP closure process.

Can we close LLP without annual filing?

Regular annual filing is essential for LLPs, but it's especially critical during closure.

What is the process for the dissolution of an LLP?

The dissolution process involves filing necessary forms, settling liabilities, obtaining NOCs, and more.

What is the affidavit for LLP closure?

The affidavit confirms that all financial obligations have been settled before LLP closure.

What happens if an LLP is not closed?

Operating an inactive LLP can lead to penalties and legal complications.

What happens if ROC filing is not completed?

Non-compliance with ROC filing can result in fines, legal action, or restrictions on business activities

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