C-PACE to Facilitate Voluntary LLP Closures Under New Rules Effective August 27, 2024
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- By Chetan Kulasri
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- Last Updated on 7 August, 2024
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Notification G.S.R. 475(E), Dated 05.08.2024
The Hon’ble Finance Minister, in her budget speech, had announced that the services of the Centre for Processing Accelerated Corporate Exit (C-PACE) would be extended to facilitate the voluntary closure of LLPs. Accordingly, the Ministry of Corporate Affairs (MCA) has notified the Limited Liability Partnership (Amendment) Rules, 2024. Under these amended rules, effective from the 27th August 2024, the application for voluntary closure of LLPs will now be approved by C-PACE instead of the Registrar.
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