Startups can windup their business and close their LLP in case of one of the following reasons:
There are two types of winding up of LLP
If LLP operations are not active, and founder wants to avoid the responsibility of compliances, then he can chose to voluntary windup the LLP.
Yes, LLP needs to surrender its other registration first before applying for voluntary shut down.
LLP needs inoperative from the date of incorporation or inactive for a period of at least one year.
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