Striking off a business entity, such as a Limited Liability Partnership (LLP) or a Private Limited Company, is a formal procedure under the Ministry of Corporate Affairs (MCA) in India. This process legally dissolves the entity, removing its name from the official register, and is applicable when the entity is no longer operational or intends to cease its business activities. Understanding the detailed procedures and legal provisions is critical for compliance and to avoid future liabilities.
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Closing a business, whether it’s a private limited company or a Limited Liability Partnership (LLP), involves a series of legal and compliance steps to ensure the process is smooth and compliant with Indian regulations. This guide outlines the key procedures, documentation, and regulatory requirements for closing a company or LLP in India.Why Businesses Choose to CloseBusinesses may choose to close for several reasons, including financial difficulties, changes in market conditions, business rest
