Purpose of the Affidavit for LLP Closure

The Affidavit for LLP Closure serves several key purposes:

1. Legal Declaration: It acts as a sworn statement where the designated partners declare the solvency of the LLP, meaning that the LLP can pay off its debts within a specified period (usually within one year from the date of the affidavit).
2. Confirmation of Compliance: The affidavit confirms that the LLP has complied with all legal and procedural requirements for closure, including settling debts, liabilities, and obligations.
3. Evidence of Intent: It provides evidence of the partners' intent to dissolve the LLP and their mutual agreement to proceed with the closure.
4. Protection Against Future Claims: It helps protect the partners from future claims by creditors or other parties by clearly stating the LLP’s financial status and the steps taken to settle all accounts.

Content of the Affidavit for LLP Closure

1. Title: titled "Affidavit for LLP Closure" or "Affidavit for Striking Off LLP."

2. Details of the LLP:

• Name of the LLP
• LLP Identification Number
• Registered office address

3. Declaration by Designated Partners:

• Names and addresses of the designated partners swearing the affidavit.
• Statement declaring that the affidavit is made in good faith and to the best of their knowledge and belief.

4. Solvency Declaration:

• A declaration that the LLP has no debts or that it is capable of paying its debts in full within a period not exceeding one year from the date of the affidavit.

5. Statement of Affairs:

• A summary of the LLP’s assets and liabilities.
• Confirmation that all liabilities have been discharged or are in the process of being discharged.

6. Compliance Confirmation:

• A statement that the LLP has complied with all relevant legal provisions and regulations, including the filing of necessary forms and payment of fees.

7. Agreement to Dissolve:

• Confirmation that all partners agree to the dissolution of the LLP.
• Details of any meetings or resolutions passed to approve the closure.

8. Indemnity Clause:

• A clause stating that the partners indemnify the Registrar of Companies and any other regulatory authority against any claims arising after the closure.

9. Signature and Verification:

• Signatures of the designated partners.
• Date and place of swearing the affidavit.
• Attestation by a Notary Public or a Magistrate.

Procedure for Filing the Affidavit for LLP Closure

1. Drafting the Affidavit :- The designated partners draft the affidavit, ensuring that all the required information is accurately provided.
2. Signing and Notarization:- The designated partners sign the affidavit in the presence of a Notary Public or Magistrate, who then attests the document.
3. Submission to the Registrar : - The notarized affidavit, along with other required documents.
4. Review by the Registrar.
5. Publication of Notice.