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How to wind up a LLP company in India


08-Sep-2023 (In Corporate Law)
I want to close my company which is a LLP firm where both my partners stopped supporting me long time back and they also told me to wind up the firm so I had to stop the business. both the partners are busy with their jobs and now they are telling me that they will file a fraud case on me. Please let me know what to do?
Answers (2)

Answer #1
820 votes
You file company wind up petition before court, before they file anything against you . Once you file a wind up petition you can show the loss and other transactions related to the company which will discharge your liability to pay the amount to your partners. Hence, contact lawyer.
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Advocate Rajesh K.S

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Answer #2
951 votes
You can initiate proceedings for dissolution of the LLP. You will need a resolution signed by all partners and then you can proceed to dissolve the LLP. You can also try to get in new partners in place of the old and retain the LLP.
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