Closure of Limited Liability Partnership
A business may be required to be closed due to various reasons, like non-operation, closure of business, recurring losses, the passing of the key managerial person, the dispute among promoters, un-ability to pay debts of the LLP, etc. Closing or winding up of an LLP is a challenging task, where the designated partners and all partners must first decide on the best method available under the LLP Act, 2008 to wind up the LLP.
Closure of Private Limited Company
Closing the company has become comparatively easier now. Fast track exit mode has come to the rescue if one wishes to close the company and strike of its name from the register of companies.