Compulsory Winding Up steps of Limited Liability Partnership Winding up procedure steps of Limited Liability Partnership
Voluntary Winding up
The partners may between them decide to stop and wind up the operation of LLP.
Compulsory Winding Up
A LLP may be compulsory wind up by Tribunal-
1. If LLP decide that LLP wound up by Tribunal.
2. If more than six month partners reduce by minimum number of below two.
3. If LLP is unable to pay its debt.
4. If LLP has acted against the sovereiginity and integrity of India.
5. If the LLP has failed to file with registrar statement of annual return,solvency, accounts for any five consecutive years.
6. If the Tribunal has opinion that it just equitable grounds that LLP hasbeing wound up.