As LLP is a separate legal entity, it is created by following a legal proceeding hence when it comes to its closure there is a proper legal procedure to be followed.
An LLP may be closed through winding-up or through striking off its name from Register of LLP. The winding-up may be a costly or time-consuming affair for many LLPs as it includes approval from Tribunals and involvement of Liquidators. Therefore, the LLP that has been non-operative since its formation or for more than a year, may proceed the easy way of exit i.e. Strike-off. The LLP will be declared struck-off after the publication of notice by Ministry. Once it is struck-off, the LLP cease to be in existence in eyes of law.