Application for Striking off (Closure) (Form 24)
Are you looking for a way to close your Application for Striking off (Closure) (Form 24) for an LLP? If your Limited Liability Partnership has stopped doing business and you no longer want to continue its operations, you can legally shut it down by filing Form 24 with the Ministry of Corporate Affairs (MCA). This process allows partners to apply for the removal of the LLP’s name from the official government records. Before filing the form, the LLP must ensure that it has no outstanding liabilities, no pending compliances, and that all accounts are properly settled. Once approved, the LLP is officially closed, helping partners avoid future filing requirements, penalties, and compliance issues. This option is commonly used by LLPs that are inactive or have completed their business objectives, and filing Form 24 ensures a proper legal closure while keeping the partners free from any future regulatory obligations.
Need to Apply for LLP Striking Off?
Overview of LLP Closure through Form 24
If your LLP has stopped operations and you want to close it permanently, Application for Striking off (Closure) (Form 24) is the official way to do it. Filing this form notifies the Registrar to remove the LLP from the official register, and once approved, the LLP is legally dissolved and cannot carry on any business. Before applying, the LLP must have no pending liabilities, all partners must agree to the closure, and bank accounts should be properly closed. Additionally, any assets of the LLP should be distributed among the partners, and all statutory compliances, such as income tax filings, should be completed. This ensures a smooth shutdown and helps partners avoid future compliance requirements, penalties, or legal disputes.
Form 24 is suitable for LLPs that are inactive or have completed their business objectives. Active LLPs should first settle all debts, contracts, and obligations before filing. Once the application is approved, the closure is final—the LLP cannot be revived or operate under the same name—giving partners full legal protection and removing the LLP permanently from the Ministry of Corporate Affairs records. Filing Form 24 also provides clarity to creditors, authorities, and stakeholders that the LLP has been formally closed, helping maintain transparency and credibility for the partners involved.
Requirements for Filing Form 24
Closing an LLP through Form 24 requires careful preparation to ensure the process is smooth and legally compliant. TheApplication for Striking off (Closure) (Form 24) must have completely stopped all business operations, with no ongoing contracts, transactions, or pending projects. All outstanding liabilities, including loans, debts, statutory dues, and any other financial obligations, must be fully cleared. The LLP’s bank accounts should be closed, and any remaining assets properly distributed among the partners. Consent from all partners is essential, and all pending income tax returns, GST filings, or other statutory compliances must be completed before submission. Additionally, the LLP should maintain proper records of past transactions and approvals, as the Registrar may review these documents during the striking off process. Fulfilling all these requirements ensures that the application is accepted without delays, protects partners from future legal or financial issues, and provides a clean and formal closure of the LLP.
Step-by-Step Process to File Form 24 for LLP Closure
The required documents are prepared, including partner declarations, affidavits, indemnity bonds, and the statement of accounts showing no assets or liabilities. The LLP’s bank account must also be closed before proceeding.
Form 24 is prepared with all the necessary details of the LLP, partners, and closure information. Supporting documents are attached to ensure the application is complete and accurate.
The form is digitally signed by a Designated Partner using a valid Digital Signature Certificate (DSC) and then submitted online to the Ministry of Corporate Affairs portal.
After submission, the registrar reviews the application and documents. Once everything is verified, the application is approved, and the LLP’s name is officially struck off from the government register, completing the closure process.
Documents Required for LLP Form 24
Filing Form 24 to close an LLP requires submitting certain key documents to support the application and ensure smooth approval by the Registrar. These documents confirm that the LLP has no pending liabilities, all partners agree to the closure, and all statutory compliances have been completed. Providing complete and accurate documents can help avoid delays and speed up the striking off process.
Required Documents:
Application for Striking Off – signed by all partners.
Affidavit from Partners – stating that the LLP has no outstanding liabilities.
Indemnity Bond – signed by all partners.
Copy of LLP Agreement – the original agreement outlining partner roles and contributions.
Statement of Accounts – showing NIL assets and liabilities.
Bank Account Closure Proof – confirmation that all LLP accounts are closed.
Copy of Latest Income Tax Return – if applicable.
Other Statutory Approvals or Clearances – if required depending on the business activity.
Government Fees and Filing Cost for LLP Form 24 Closure
When filing Application for Striking off (Closure) (Form 24) for LLP closure, a government fee must be paid at the time of submitting the application. This fee is fixed and is paid online through the Ministry of Corporate Affairs filing system. Paying the correct fee and submitting accurate details helps ensure the application is processed without delays.
Government Fees Details:
₹500 Government Filing Fee – This is the fixed fee for submitting Form 24 for LLP striking off.
No Additional Government Charges – Normally, there are no extra fees for filing this form.
Resubmission May Delay Approval – If incorrect information or incomplete documents are submitted, the Registrar may ask for resubmission.
Professional Fees May Apply – If you take help from a consultant or professional, additional service charges may be applicable.
Paying the correct government fee and submitting the form properly helps ensure a smooth and faster closure process for the LLP.
Important Points to Remember Before Filing Form 24
Complete all pending statutory filings before applying for LLP closure.
Ensure the LLP is not carrying on any business activities.
Close the LLP’s bank account before filing Form 24.
Clear all liabilities, loans, and outstanding dues of the LLP.
File all applicable Income Tax Returns and complete tax compliance.
Prepare a statement of accounts showing NIL assets and liabilities.
Obtain consent from all partners for the LLP closure.
Attach all required documents such as affidavits, indemnity bonds, and declarations.
Verify that all information in Form 24 is accurate before submission.
Proper preparation helps avoid rejection or resubmission of the application.
FAQs on Application for Striking Off LLP (Form 24)
Form 24 is used to apply for striking off the name of an LLP that is not carrying on business.
No, the LLP must clear all liabilities before filing Form 24.
Yes, the LLP bank account should be closed before submitting the application.
Form 24 must be digitally signed by a Designated Partner of the LLP.