411 LLPs to Be Struck Off: Here’s What You Need to Know
Overview of the Notice
The Ministry of Corporate Affairs (MCA), through its Centre for Processing Accelerated Corporate Exit (C-PACE), has released a critical notice dated November 8, 2024. This notice concerns 411 Limited Liability Partnerships (LLPs) that have applied for their names to be struck off the official register. This process is governed under Section 75 of the Limited Liability Partnership Act, 2008, and Rule 37 of the LLP Rules, 2009.
The names of these LLPs are now publicly listed on the MCA website for a one-month review period, during which objections can be raised.
Details of the Process
- Application Submission:
These 411 LLPs submitted their applications via Form LLP-24, requesting the removal of their names from the Register. - Public Notice:
The list is now available for public viewing on the MCA website in compliance with sub-rule (2) of Rule 37. - Objection Period:
Any objections to the removal must be submitted within the one-month window. If no valid objections are raised, the listed LLPs will:- Be struck off the Register.
- Have their dissolution published in the Official Gazette.
Implications of the Striking-Off
When an LLP is struck off:
- It ceases to exist as a legal entity.
- The partners lose liability protection associated with the LLP structure.
- The remaining liabilities or dues must still be settled as per applicable laws.
To view the complete list, click here.
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