Simplification in Incorporation process of LLP

Introduced by: LLP (Second Amendment) Rules, 2018.

Relevant date : 18^th September 2018

Purpose:

-A initiative of ease of doing business

-To simplified the procedure of the incorporation of the LLP

-To launched another major reform by way of process re-engineering of Incorporation of LLP.

Provisions of LLP(Second Amendment) Rules, 2018.

• The effective date of the rules is 2^nd October, 2018
• Introduction of a web service titled “RUN-LLP (Reserve Unique Name- Limited Liability Partnership) by replacing form-1 (Application for reservation or change of name).
• Introduction of new integrated form FiLLiP, it a form for incorporation of Limited Liabilty Partnership replacing the form 2
• Form FiLLiP therein combining three services

1. Name reservation,

2. Allotment of Designated Partner Indentification No.

3. Incorporation of LLP.

• Change in the processing of Forms

The form which would be submitted using-

1. RUN Service,

2. FiLLiP,

3. FORM-17,

4. FORM-18,

5. FORM-5

Would be processed at a centralized location of Registrar called CRC for and on behalf of Registrar.

• The Centralized registration process is likely to bring down the processing time to D+1 days akin to Companies Incorporation forms.

RUN-LLP:

• It is a simple and easy to use web service for reserving a name for a new LLP or change of name of any existing LLP.
• It is replaced the existing form-1
• In RUN-LLP there are only 4 fields for reservation of name.
• This is a post login service,
• Existing user would need to login into their account on MCA,
• New Users required to create new account first before using the service.

Fields in the RUN-LLP

1. it’s a new request or resubmission,

2. SRN No. then prefill,

3. Proposed name 1,& 2

4. Auto check

5. Comments, then Submit.

Form FiLLiP

1. New Field

Whether name is already approved by ROC is introduction to accommodate names approved through RUN-LLP and reservation of name through FiLLiP.

2. Type of Incorporation whether New Incorporation or Conversion of a Company into LLP;

3. No of the designated partner/Partner in tabular format along with their relevant details.

4. Each category of designated Partner/Partner divided into two parts, one having the DIN/DPIN and another not having the DIN/DPIN.

5. In case of body corporate designated partners/ Body corporate partners, need to be entered in the column for “not having DIN/DPIN.

6. In case body corporate partners details of their nominee shall also be provided

7. In case of Individual/ nominee of the body corporate not having DIN/DPIN, all the relevant details pertaining to DIN/DPIN allotment shall be entered in the relevant section.

8. Maximum two DIN shall be allocated through FiLLiP.

9. In case FiLLiP is getting field for name reservation, user need to enter Proposed name,

10. Relevant attachments

11. In case of none of the designated partners having the DIN/DPIN , the form also be signed by providing the PAN details of the Designated Partner.