Statement of Accounts disclosing Nil assets and Nil liabilities [sub-clause (a) of clause (II) of sub-rule (1A) to rule 37.
Refer rule 37 for the same
37(1) Where a limited liability partnership is not carrying on any business or operation - (a) for a period of two years or more and the Registrar has reasonable cause to believe the same, for the purpose of taking suo motu action for striking off the name of the LLP; or (b) for a period of one year or more and has made an application in Form 24 to the Registrar, with the consent of all partners of the limited liability partnership for striking off its name from the register, the Registrar shall send a notice to the limited liability partnership and all its partners, of his intention to strike off the name of the limited liability partnership from the register and requesting them to send their representations along with copies of the relevant documents, if any, within a period of one month from the date of the notice: Provided that no such notice by Registrar shall be required under clause (b): Provided further that where the limited liability partnership is regulated under a special law, the application for removal of its name shall be accompanied by approval of the regulatory body constituted or established under that law.
(2) A notice issued under sub-rule (1) or contents of an application made by the LLP shall also be placed on the website of the Ministry of Corporate Affairs for the information of the general public for a period of one month.
(3) At the expiry of the time mentioned in the notice under sub-rule (1), or one month under sub-rule (2) above, the Registrar may, by an order, unless cause to the contrary is shown by the limited liability partnership, or the Registrar is satisfied that the name should not be struck off from the register, strike its name off the register, and shall publish notice thereof in the Official Gazette, and on the publication in the Official Gazette of this notice, the limited liability partnership shall stand dissolved.
(4) The Registrar, before passing an order under sub-rule (3), shall , where he has sufficient cause to believe that the limited liability partnership has any asset or liability, satisfy himself that sufficient provision has been made for the realization of all amount due to the limited liability partnership and for the payment or discharge of its liabilities and obligations by the limited liability partnership within a reasonable time and, if necessary, obtain necessary undertakings from the designated partner or partner or other persons in charge of the management of the limited liability partnership: Provided that notwithstanding the undertakings referred to in this subrule, the assets of the limited liability partnership shall be made available for the payment or discharge of all its liabilities and obligations even after the date of the order removing the name of the limited liability partnership from the register.
(5) The liability, if any, of every designated partner of the limited liability partnership dissolved under sub-rule (3), shall continue and may be enforced as if the limited liability partnership had not been dissolved.
(6) Nothing in this rule shall affect the power of the Tribunal to wind up a limited liability partnership the name of which has been struck off the register. Explanation.- In computing the period of 30 days from the date of order, the requisite time for obtaining a certified copy of order shall be excluded.
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Dear members,
the newly incorporated company wants to have two shareholders holding shares in 80:20 ratio, wants to change shareholding in the company to 50: 50 ratio
PLEASE ADVICE HOW TO GO AHEAD.
Dear members,
If a company is converted into LLP, what about the Reserves and surplus outstanding in its balance sheet? Whether they become part of Balance Sheet of LLP after conversion or something else to be done?
kindly advice.
Dear members,
In the rules, it is mentioned that :
where the member of the reporting company is a body corporate (whether incorporated or registered in India or abroad), other than a limited liability partnership,
what does it mean, whether it means that if an LLP is a member of a reporting company and holding more than 10%, then it has to be ignored??
pls clarify, it will be very helpful for me, as I have one same case.
thanks
Dear Members
For foreign Director Passport copy with father's name is mandatory. But in China passport are issued without father name. Can anyone guide me what other options can be used while the formation of Pvt Ltd Company with One Chinese Director?
Regards
Dear All
Please advice
if a reporting company is a wholly-owned subsidiary
Then when filing the BEN 2 which point is to be select
whether I have to tick
1.For a declaration of holding reporting company
or
2 For a declaration of Significant Beneficial Ownership under Section 90
I am confused
Because everyone has a different view.
Dear members
when one partner of LLP is Indian and other is Foreign National Residing abroad, how the LLP agreement is signed? if we get signed the agreement first from Indian partner and then send to Foreign National by courier to his address and he signs there in abroad and then sends back to us for filing, will it be ok? whether the signing of Foreign partner is required to be notarized & apostilled? any other way?
Thank You.
Dear All,
One of my clients has executed LLP agreement before incorporation certificate received by LLP.
And has paid 15000 stamp duty.
Can we file Form-3 LLP now with old franking challan?
Thanks in advance.
Dear Folks,
Application for striking off name of Limited Liability Partnership (LLP) shall be file in form 24:
Form 3 Need to be file before closure of LLP:
1. Now, due to some dispute between partners, they want to dissolve LLP is it possible as incorporation has been done just 2 months back?-LLP shall be closed after one year of its Incorporation when its get failed to start an operation and form 3 is pre-requsite for filing of form 24 for LLPM Closure.
2. Or whether any of one can resign and another can be added?
If we go for option 2, first we have to file the initial agreement and then only we can change the agreement, am I correct?-Yes right need to be file Form 3 for Initial agreement then file again form 3 & 4 for partners change.
More, LLP act or rules doesn’t provide any exemptions regarding the filing of LLP agreement in form LLP-3 but when you will do pre-scrutinty of form 24 popup will come for the filing of form 3.
In case of change in LLP agreement due to appointment or cessation of designated partner(s)/ partner(s), eForm 4 (Notice of appointment, cessation, change in name/ address/ designation of a designated partner or partner and consent to become a partner/ designated partner) should be filed together at the time of filing of eForm 3.
The Stamp Duty payable of LLP Agreement is a State subject and same may be paid as per the State Stamp Act. Till the time specific Stamp Duty is prescribed in respective Stamp Act, the Stamp duty on LLP Agreement may be paid as per the stamp duty payable on partnership agreement in view of the Finance Bill, 2009.
https://blogs.compliancecalendar.in/step-wise-procedure-and-checklist-to-close-llp-by-cs-tanuj-saxena-2141