Comparison Between LLP and One Person Company

Venky Rathi Contact: 8802239807 LLP v/s OPC Particular Limited Liability Partnership One Person Company Minimum Members / Designated Partners Minimum 2 partners 1 Director Max. Members / Designated Partners No such Limit 1 Director Incorporation Fee Form 1(Name approval) 200 Particulars Amount Name approval 1,000 Form 2 (ROC Filing) 500 MOA 2,000 AOA 200 Form 3 (Filing of LLP Agreement) 50 INC-2 200 Stamp Duty 0.15% of Authorized Capital LLP Agreement 1000 ( 1 % of the Contribution i.e. Rs. 1,00,000) DIR-12 200 INC-22 200 Total 1,750 Total 3,800 Annual Filing Form Amount Form Amount Form 8 50 Form 23AC &ACA 200 Form 11 50 Form 20B 200 Form ADT-1 200 Winding-up Resolutions and Affidavit: Obtain a resolution for voluntary winding up of LLP along with affidavits for winding up from the partners of the LLP. LLP Liquidator: Appoint a LLP liquidator for liquidation and settlement of the LLP’s liabilities and partners’ right. Winding up Report: Pass a resolution approving the report filed by the LLP Liquidator for winding up. Dissolution of LLP: Once the tribunal is satisfied by the report and the resolution, the LLP would be dissolved by the tribunal Step 1: Convene a Board Meeting and pass a resolution for winding up and issue a Notice calling General Meeting. Step 2: Pass Special resolution in the General meeting. Step 3: Conduct a meeting of the Creditors and take approval from them for voluntary winding up of the Company. Step 4: File notice with Registrar for appointment of Liquidator Step 5: File certified copies of Special resolution passed in General Meeting with Registrar for winding up of the Company. Step 6: Wind up affairs of the Company and prepare Liquidators account of the Company and get them Audited. Venky Rathi Contact: 8802239807 Step 7: Call General Meeting Step 8: Pass a special resolution for disposal of the books and papers of the company. Step 9: Within 2 weeks of final General Meeting of the Company, file a copy of the accounts and file an application to the Tribunal for passing an order for dissolution of the company. Step 10: After satisfaction, Tribunal may pass an order dissolving the Company within 60 days. Step 11: The Company liquidator than file a copy of Order with the Registrar. Step 12: The Registrar, on receiving the copy of the order passed by the Tribunal then publishes a notice in the Official Gazette that the company is dissolved. Striking-Off the Name If Company is not carrying on the business for the period of 1 year or More. If Company is not carrying on the business for the period of 1 year or More. Procedure An application is required to be made in eForm 24 to the Registrar for Striking off the name of the LLP. After receiving the application, the Registrar publishes a notice on its websites containing the substance of the application for a period of 1 month. On the expiry of the above said period, the Registrar may, by an order will strike the name of the LLP from the register and shall publish notice in the official gazette, thereby legally closing/dissolving the LLP. An application is required to be made in Form FTE to the Registrar of Companies for Striking off the name of the LLP. After receiving the application, the Registrar publishes a notice on its websites containing the substance of the application for a period of 1 month. On the expiry of the above said period, the Registrar may, by an order will strike the name of the Company from the register and shall publish notice in the official gazette, thereby legally closing/dissolving the Company.