LIMITED LIABILITY PARTNERSHIP:
Limited Liability Partnership (LLP) Act came into force for most part, on 31st March, 2009 followed by its Rules on 1st April, 2009.
It is hybrid form which incorporates benefits of both partnership and companies. It has the following features:
Small Entrepreneurs can opt for LLP
CHANGE OF NAME OF LLP
A Limited Liability Partnership (LLP) registered in India maybe required to change its name due to business reasons or on the directions of the Central Government. Central Government can order for change of LLP name, if the name of the LLP is deemed to be undesirable or identical with or too nearly resembling the name of an existing LLP.
In such a case, the LLP must comply with the directions of the Central Government. Failure to comply could attract a penalty of Rs.10,000 to Rs.5,00,000 for the LLP and the designated partner could be fined Rs.10,000 to Rs.100,000, in case of order to change name by Central Government.
Procedure for Change of Name of LLP
Firstly, LLP is required to file Form 1 for Change of Name of LLP.
With the filing of Form 1 Company shall receive the Name Approval Certificate.
Secondly, LLP is required to file Form 5 for Change of Name of LLP.
On obtaining name approval from the MCA, confirming availability of name, notice of change in form 5 can be filed with the ROC within 30 days.
With this LLP shall receive fresh Certificate of Incorporation with the New Name of the Limited Liability Partnership.
Please refer all the relevant section, rules, notifications, amendments as applicable. The Author is not responsible for any losses incurred.
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