LLP

Shifting of Office of LLP within the Same State

Corporate Law - A Limited Liability Partnership (LLP) can be said to be a hybrid of the Company and a partnership firm. It provides for the advantages of both. At the time of incorporation, the Limited Liability Partnership is required to submit the details of its registered office. It might be the possibility that the partners intend to […]...

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Overview of Limited Liability Partnership

Corporate Law - Article explains Nature of Limited Liability Partnership (LLP), Advantages of Limited Liability Partnership (LLP) Disadvantages of Limited Liability Partnership (LLP), Procedure for Incorporation of LLP,  Limited Liability Partnership Agreement (LLP Agreement/Deed) and Some of the Essential Clause in Limited Liability Partnership Agreeme...

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Addition & Cessation of Partner/Designated Partner in LLP

Corporate Law - The Limited Liability Partnership is governed primarily by the provisions of the Limited Partnership Act, 2008 (LLP Act, 2008) and secondary, by the clauses mentioned in the Limited Partnership Agreement. However, with respect to the addition or removal of the designated partner or partner in the Limited Liability Partnership, there is no...

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All About Limited Liability Partnership Act, 2008 (LLP Act, 2008)

Corporate Law - The concept of the Limited Liability Partnership (LLP) come to India in the year 2008. An LLP has the characteristics of both the partnership firm and company. It is the most preferred form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. LLPs [&he...

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Change of Object Clause of LLP

Corporate Law - At the time of Limited Liability Partnership (LLP) incorporation, the partners have to provide the details of the main objects that shall be carried on by the LLP. The same has to be descriptively mentioned in the agreement as well. The LLP cannot carry on any business activities which are not mentioned in the agreement. […]...

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Extend time limit for LLP Audit and LLP Filing: ICSI

Corporate Law - ICSI Request for extension of time limit for preparing the Statement of Account and Solvency and for getting the accounts audited in LLPs and subsequent filing thereof Institute of Company Secretary of India September 29, 2021 MCA: 2021 Shri Rajesh Verma, IAS Secretary Ministry of Corporate Affairs Government of India Shastri Bhawan Dr. R...

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ICAI supports Cabinet decisions to approve 30 amendments to LLP Act 2008

Corporate Law - ICAI endorses & supports Cabinet Decisions to approve the 30 amendments to LLP Act 2008 through the LLP (Amendment) Bill 2021 which will provide more traction & pace to ease of doing business policy. Cabinet approves the LLP (Amendment) Bill, 2021 for carrying out 30 amendments to the LLP Act, 2008. Cabinet approves de-criminaliza...

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Government launches National Logistics Excellence Awards

Corporate Law - National Logistics Excellence Awards Government launches National Logistics Excellence Awards; Awards will give due recognition to various players involved in the logistics supply chain; Awards will an opportunity to laud the extraordinary measures taken by Organizations to address the deficiencies exposed by the COVID-19 pandemic. The aw...

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LLP Compliance’s & Their Due Dates For Financial Year 2020-21

Corporate Law - LLP Compliance & their Due Dates For Financial Year 2020-21 Under LLP Act 2008 MCA vide its general circular No 06/2021 dated 3rd May 2021 has been decided to grant additional time for filling of certain forms without any additional fee, which were/would be due for filling between 1st April 2021 to 31st May 2021, under the comp...

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1.55 lakh companies & 42186 LLP incorporated in FY 2020-21

Corporate Law - MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year During the Financial Year 2020-21, Ministry of Corporate Affairs (MCA) registered more than 1.55 Lakh company incorporations as compared to 1.22...

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LLP not required to pay service tax under reverse charge mechanism

SRL Advisors LLP Vs Commissioner of Central Tax Delhi (CESTAT Delhi) - SRL Advisors LLP Vs Commissioner of Central Tax Delhi (CESTAT Delhi) Rule 2(bc) of Service Tax Rules, refers to the meaning of ‘body corporate’ in Section 2(7) of the Companies Act, wherein any other body corporate which includes a LLP is specifically excluded from the definition of body corpora...

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LLP can enter into a partnership with individual or other persons

Jayamma Xavier Vs Registrar of Firms (Kerala High Court) - Jayamma Xavier Vs Registrar of Firms (Kerala High Court) Section 4 of the Partnership Act permits Constitution of a firm or partnership between one or more persons. In this case the partnership deed was executed between an individual and an LLP which is a body corporate having a legal entity and com...

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Name approval process of MCA is a ‘system generated harassment’ : HC

Kunhi Muhammed Etayattil Vs Asst. Registrar of Companies (Kerala High Court) - Kunhi Muhammed Etayattil Vs Asst. Registrar of Companies (Kerala High Court) HC remarked that,The facts of the case disclose a sorry picture of what can be described as a ‘system generated harassment’ aggravated by non application of mind by officials who leave everything to be dealt wit...

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LLP Settlement Scheme, 2020 benefit cannot be denied on Form uploaded pursuant to Court Order

Handoo & Handoo Legal Consultants & ANR. Vs. Union of India (Delhi High Court) - Handoo & Handoo Legal Consultants Vs. Union of India (Delhi High Court) The plea of the petitioner(s) in the present applications is that they have been denied the benefit of the Scheme only on the ground that they uploaded the forms pursuant to the order dated 06.12.2018 of this Court. The lear...

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Position of Amalgamation of Indian LLP Under Companies Act 2013

Regional Director Vs Real Image LLP (NCLAT) - Regional Director Vs Real Image LLP (NCLAT) Our Today’s article is about the Basic question that if an Indian LLP wants to process for the Amalgamation into a Indian Company, whether it required to obtain the registration under section 366 In the case of Regional Director, Southern Region, & O...

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MCA allows LLPs to file form 8 without additional fess till 30.12.2021

General Circular No. 16/2021 - (26/10/2021) - It has been decided to allow LLPs to file Form 8 (the Statement of Account and Solvency) for the Financial Year 2020-2021 without paying additional fees upto 30th December, 2021....

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Notice by ROC Kerala & Lakshadweep for removal of name of 48 LLPs

No. ROC(K)LLP/211/2021 - (15/09/2021) - Registrar of companies,Kerala & Lakshadweep- The list of 48 LLPs are being sent herewith for publication in the web site of the Ministry of Corporate Affairs. The names of the said LLPs will be struck off on expiry of 30 days from date of issue of the said notice. GOVERNMENT OF INDIA Ministry of...

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Limited Liability Partnership (Amendment) Act, 2021

Bill No. 31 of 2021 - (13/08/2021) - (1) This Act may be called the Limited Liability Partnership (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference...

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Limited Liability Partnership (Amendment) Bill, 2021

Bill No. XXXI of 2021 - (30/07/2021) - THE LIMITED LIABILITY PARTNERSHIP (AMENDMENT) BILL, 2021 is A BILL to amend the Limited Liability Partnership Act, 2008 and same was introduced in Rajya Sabha on 30/07/2021. Full text of the Limited Liability Partnership (Amendment) Bill, 2021 as introduced in Rajya Sabha is as follows:- AS INTRODUC...

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Notice by ROC Karnataka for removal of name of 120 LLPs

No. ROCB/LLP Strike off/Sec.75-Rule 37(2)/JTA(M)/2021 - (07/07/2021) - In the matter of 120 Limited Liability Partnerships (List Enclosed) Notice by Registrar for removal of name of a Limited Liability Partnership from the Register [Pursuant to Section 75 of the LLP Act, 2008 and sub-rule (1)(b) rend with Sub-Rule(2) of Rule 37 of LLP Rules, 2009] e-mail: roc.bangaIore...

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Recent Posts in "LLP"

Shifting of Office of LLP within the Same State

A Limited Liability Partnership (LLP) can be said to be a hybrid of the Company and a partnership firm. It provides for the advantages of both. At the time of incorporation, the Limited Liability Partnership is required to submit the details of its registered office. It might be the possibility that the partners intend to […]...

Read More
Posted Under: CA, CS, CMA |

Overview of Limited Liability Partnership

Article explains Nature of Limited Liability Partnership (LLP), Advantages of Limited Liability Partnership (LLP) Disadvantages of Limited Liability Partnership (LLP), Procedure for Incorporation of LLP,  Limited Liability Partnership Agreement (LLP Agreement/Deed) and Some of the Essential Clause in Limited Liability Partnership Agreeme...

Read More
Posted Under: CA, CS, CMA |

Addition & Cessation of Partner/Designated Partner in LLP

The Limited Liability Partnership is governed primarily by the provisions of the Limited Partnership Act, 2008 (LLP Act, 2008) and secondary, by the clauses mentioned in the Limited Partnership Agreement. However, with respect to the addition or removal of the designated partner or partner in the Limited Liability Partnership, there is no...

Read More
Posted Under: CA, CS, CMA |

All About Limited Liability Partnership Act, 2008 (LLP Act, 2008)

The concept of the Limited Liability Partnership (LLP) come to India in the year 2008. An LLP has the characteristics of both the partnership firm and company. It is the most preferred form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. LLPs [&he...

Read More
Posted Under: CA, CS, CMA |

Change of Object Clause of LLP

At the time of Limited Liability Partnership (LLP) incorporation, the partners have to provide the details of the main objects that shall be carried on by the LLP. The same has to be descriptively mentioned in the agreement as well. The LLP cannot carry on any business activities which are not mentioned in the agreement. […]...

Read More
Posted Under: CA, CS, CMA |

Things foreign entity can do to enter Indian Market

Today the market of India has shown more growth than any other nation across the world and watching this, businessmen who reside overseas are taking interest in doing business in India. The “Make in India” campaign promoted by the honorable chief minister of India Narendra Modi Ji encouraged foreign entities to do more business in [&h...

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Posted Under: CA, CS, CMA |

Striking off process of LLP

This article lays down the detailed procedure for striking off the LLP. As per Limited Liability Partnership Rules, 2009, Rule 37 (1) (b)   any LLP may after following the below-mentioned process voluntarily apply to ROC for striking off its name from the register of LLP. STEP-1-   Pre-Conditions for striking off LLP- 1. Not carrying [...

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Posted Under: CA, CS, CMA |

MCA allows LLPs to file form 8 without additional fess till 30.12.2021

General Circular No. 16/2021 26/10/2021

It has been decided to allow LLPs to file Form 8 (the Statement of Account and Solvency) for the Financial Year 2020-2021 without paying additional fees upto 30th December, 2021....

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Limited Liability Partnership (LLP) – Process and Benefits

Dear friends, in this competitive market, when we start a new business then it requires huge capital investment (depending of nature of business segment) and trustworthy human resources to get success in our dream business. In most of the cases the entrepreneur has the vision and idea to start a new business but due shortage […]...

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Posted Under: CA, CS, CMA |

Forms of Business Existing in India and Which one to choose? – Simplified

Before we all start a profit-oriented business, we have a query which form of business you should go with? Since there are lot of options we get confused like Proprietorship, Partnership firm, LLP, One Person Company, Private Limited and Public Limited Companies. We have simplified the major forms of business existing in India; hence you ...

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Posted Under: CA, CS, CMA |

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