Enter LLP & Designated Partner Details
Fill in the details below to generate Indemnity Bond for Closure of LLP.
Document Preview
Indemnity Bond for Closure of LLP
INDEMNITY BOND
For Closure of Limited Liability Partnership
To,
The Registrar of Companies,
________________
We, the Designated Partner(s) of:
LLP Name: ________________
LLPIN: ________________
Designated Partner 1: ________________
DPIN: ________________
Designated Partner 2: ________________
DPIN: ________________
We undertake to pay and settle all lawful claims arising after the striking off of the name of the LLP.
Signatures
Indemnity Bond for Closure of LLP
LLP Strike-Off Documentation for Indian Limited Liability Partnerships
Introduction
An Indemnity Bond for Closure of LLP is a statutory document executed by the designated partners when applying for voluntary strike-off of a Limited Liability Partnership from the Register of LLPs. Under the Limited Liability Partnership Act, 2008 and the LLP Rules, when designated partners apply for removal of an LLP's name through Form 24 (Application for Striking Off), they must execute an indemnity bond undertaking personal responsibility for any claims or liabilities that may arise after the LLP's name has been struck off.
This bond serves as a legal guarantee wherein the designated partners acknowledge that the LLP has been inoperative, has no assets or liabilities, and is not intending to carry on any business or commercial activity. The indemnity bond protects creditors and any other persons who may have legitimate claims against the LLP. The document must be executed on appropriate stamp paper, sworn before a Notary Public, and witnessed by two independent persons. This indemnity bond is submitted along with Form 24 and other requisite documents to the Registrar of Companies.
Benefits of Using a Standard Format
Utilising a professionally drafted indemnity bond format ensures that all statutory requirements under the Limited Liability Partnership Act, 2008 and the LLP Rules are properly addressed. A ready-to-use template saves valuable time during the LLP closure process, reduces the risk of procedural errors, and provides a consistent framework for documenting the designated partners' indemnification undertaking.
Standardised formats facilitate smoother ROC filings and help avoid rejection due to incomplete documentation.
Relevance to LLP Closure
The indemnity bond is an essential component of the LLP strike-off procedure. After LLP Registration, if an LLP becomes defunct or has remained inoperative since incorporation, the designated partners may apply for voluntary removal of the LLP's name from the register.
Prior to filing, LLPs must ensure that all statutory obligations including GST Registration cancellation (if registered), income tax filings, and closure of bank accounts have been completed. The indemnity bond ensures that designated partners remain accountable for any undisclosed liabilities even after the LLP ceases to exist.
Indemnity Bond for Closure of LLP – Sample Format
INDEMNITY BOND
To,
The Registrar of Companies,
__________________________________________ (Name of ROC Office)
We, the Designated Partner(s) of:
LLP Name: __________________________________________
LLPIN: __________________________________________
Date of Incorporation: __________________________________________
Registered Office Address: __________________________________________
incorporated under the Limited Liability Partnership Act, 2008, do hereby solemnly declare that:
1. We, the undersigned, are Designated Partners of the above-named LLP:
(a) Name: __________________________ Son/Daughter of __________________________
DPIN: __________________________
(b) Name: __________________________ Son/Daughter of __________________________
DPIN: __________________________
2. We have made affidavits dated __________________________, duly sworn before a Notary Public, affirming that the LLP has no assets and no liabilities as on the date of this application.
3. The LLP has been inoperative since __________________________ / has not carried on business since its incorporation, and the LLP does not intend to carry on any business or commercial activity. Accordingly, the LLP is defunct, and we request the Registrar of Companies to strike off the name of the LLP from the Register of LLPs in terms of the Limited Liability Partnership Act, 2008 and the rules made thereunder.
4. In view of the above, we do hereby undertake and indemnify in writing:
(a) To pay and settle all lawful claims arising in future after the striking off of the name of the LLP from the Register of LLPs;
(b) To indemnify any person for any losses that may arise pursuant to the striking off of the name of the LLP;
(c) To settle all lawful claims and liabilities which have not come to our notice up to this stage, and if any such claim arises or is observed even after the name of the LLP has been struck off.
Designated Partner 1:
Signature: __________________________
Name: __________________________
DPIN: __________________________
Designation: Designated Partner
Address: __________________________
Designated Partner 2:
Signature: __________________________
Name: __________________________
DPIN: __________________________
Designation: Designated Partner
Address: __________________________
Date: __________________________
Place: __________________________
WITNESSES:
Witness 1:
Signature: __________________________
Name: __________________________
Father's Name: __________________________
Address: __________________________
Occupation: __________________________
Witness 2:
Signature: __________________________
Name: __________________________
Father's Name: __________________________
Address: __________________________
Occupation: __________________________
Frequently Asked Questions
1. Why is the indemnity bond for closure of LLP prepared?
The indemnity bond for closure of LLP is prepared to provide legal and financial protection to creditors and any persons who may have legitimate claims against the LLP. By executing this bond, designated partners undertake personal responsibility to pay and settle all lawful claims that may arise after the LLP's name has been struck off from the register. It serves as a safeguard ensuring accountability for undisclosed liabilities.
2. What is the format for the preparation of an indemnity bond for the closure of LLP?
The indemnity bond format should include: name and address of the Registrar of Companies, LLP name and LLPIN, date of incorporation, registered office address, names and DPINs of all designated partners, declaration confirming nil assets and liabilities, confirmation of inoperative status, date from which the LLP has been inactive, indemnity undertaking clauses, signatures of all designated partners with their addresses, date and place of execution, and signatures of two witnesses with their complete particulars.
3. What are the documents required to attach with LLP Form 24 (application for LLP strike off) for closure of LLP?
The following documents are typically required to be attached with LLP Form 24 for strike-off: Indemnity Bond executed by all designated partners on appropriate stamp paper, Affidavit confirming nil assets and liabilities sworn before a Notary Public, Statement of Account (not older than thirty days), ITR Acknowledgement of the LLP (if filed), Statement of Assets and Liabilities, and Authority Letter for filing the strike-off application. Additional documents may be required based on ROC requirements.
4. Where can I download the ROC board resolution formats?
ROC board resolution formats and other statutory document templates can be downloaded from professional service provider websites that offer ready-to-use legal and compliance formats. These templates are designed to meet the requirements of the Companies Act, 2013, the Limited Liability Partnership Act, 2008, and the rules made thereunder. Ensure that the formats are updated and compliant with the latest statutory requirements before use.