Winding Up Services

Winding Up & Closure Services — LLP and Company Dissolution in India

Winding up is the legal process of closing an LLP or Company by settling liabilities, liquidating assets, and distributing the remaining balance to partners or shareholders. Once completed, the entity is formally dissolved and removed from ROC records.

At Thrive Tax Solutions, we provide end-to-end winding up and liquidation services for LLPs and Companies, ensuring full compliance with applicable laws and a smooth closure process.

📘 What is Winding Up?

Winding up refers to the formal process of ending business operations, appointing a liquidator, settling debts, and ultimately dissolving the entity as a legal person.

  • During winding up, the entity continues to exist legally
  • After dissolution, the entity ceases to exist

⚖ Applicable Laws

  • LLP Act, 2008
  • Companies Act, 2013
  • Insolvency & Bankruptcy Code (IBC), 2016
  • LLP (Winding Up & Dissolution) Rules, 2012

🔄 Modes of Winding Up

LLP Winding Up

  • Voluntary Winding Up (by partners)
  • Voluntary Liquidation under IBC
  • Winding Up by Tribunal (NCLT)

Company Winding Up

  • Voluntary Winding Up (members or creditors)
  • Compulsory Winding Up by Tribunal
  • Court-Supervised Winding Up

📝 Voluntary Winding Up (Brief Process)

  1. Declaration of solvency
  2. Passing partner/shareholder resolution
  3. Appointment of liquidator
  4. Settlement of creditors
  5. Asset liquidation & distribution
  6. Final report & dissolution filing with ROC

🏛 Winding Up by Tribunal (NCLT)

  • Inability to pay debts
  • Non-compliance with ROC filings
  • Fraud or unlawful activities
  • Reduction in minimum partners/members
  • Just & equitable grounds

👤 Role of Liquidator

  • Takes control of entity affairs
  • Verifies claims of creditors
  • Liquidates assets
  • Distributes proceeds
  • Files final dissolution application

⏱ Timeline (Indicative)

  • Preparation & filings: 2–3 months
  • Liquidation & closure: 6–12 months
  • (Depends on complexity and creditor involvement)

🛠 Our Services Include

  • Eligibility & closure advisory
  • Drafting resolutions & declarations
  • Liquidator coordination
  • ROC / NCLT filings
  • Final dissolution & compliance closure

⭐ Why Choose Thrive Tax Solutions?

  • Expertise in LLP & Company closures
  • Complete legal & ROC compliance
  • Transparent, structured process
  • End-to-end professional support
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