But for availing the exemption, LLP needs to file its accounts with the ROC (Registrar of Companies) which contain a statement of account and solvency by the partners to acknowledge the partners’ responsibilities for complying with all the requirements.
Designated Partner in an LLP A Designated Partner is a partner, Who has a Director Identification Number He can be an individual as well as a nominee of a body corporate In an LLP there has to be a minimum of 2 designated partners At least one of the designated partner should be a resident of India A designated partner has the same liability as that of other partners in an LLP.
This implies that in the case of any dues against the Limited Liability Partnership, the partners are not liable to pay off the same from the proceeds of their personal estate.
Application required A detailed application for Striking of the LLP A copy of the detailed application is required to be made in eform 24 to the ROC (Registrar of Companies) stating the full details of LLP and reason for closing the LLP.