Dear Members,
While applying for incorporation of a LLP, where a foreign resident is an applicant, proof of residence should not be older than one year as against 2 months for Indian resident. Is my understanding correct?
Others views are solicited.
partner
designated
foreign
proof
residence
Can a person be a partner and designated partner both?
partner
designated
Respected members
In a proposed LLP, we note the Designated Partner has his signature in Gujarati. The LLP agreement is in English.
Is it fine for a Designated Partner to sign the agreement and consent forms in Gujarati or the ROC requires any vernacular declaration from the Designated Partner confirming that that the content of the LLP Agreement and other forms were read out and explained to him in Gujarati and he confirms to have understood the same. Jurisdictional ROC is ROC Mumbai.
In our office, generally the LLP agreement is not notarized and we as Practising Professionals sign the Agreement as 2 witnesses quoting our membership number.
Kindly guide.
language
vernacular
partner
designated
signature
Can anyone please provide me draft documents required for execution of event in case of death of designated partner & Partner in an LLP under llp act, 2008 . we want to execute the death case of partner and appointment of new designated partner in his place and intimate and get it done with ROC , MCA and Other Goverment Authorities .
can you please send me step wise process along with draft documentations .
when to surrender his DPIN etc
accounting treatments and other things i am aware of need legal aspects to be done with ROC AND MCA . part - VIII OF LLP RULES , CESSATION OF PARTNERSHIP INTEREST WILL COME INTO PLAY STILL NEED STAGES AND DETAILED PROCESS AND DRAFT DOCUMENTATIONS .
PLEASE HELP ME IN THIS REGARD ITS VERY URGENT .
24. CESSATION OF PARTNERSHIP INTEREST.—(1) A person may cease to be a partner of a limited liability partnership in accordance with an agreement with the other partners or, in the absence of agreement with the other partners as to cessation of being a partner, by giving a notice in writing of not less than thirty days to the other partners of his intention to resign as partner. (2) A person shall cease to be a partner of a limited liability partnership— (a) on his death or dissolution of the limited liability partnership; or (b) if he is declared to be of unsound mind by a competent court; or (c) if he has applied to be adjudged as an insolvent or declared as an insolvent. (3) Where a person has ceased to be a partner of a limited liability partnership (hereinafter referred to as "former partner"), the former partner is to be regarded (in relation to any person dealing with the limited liability partnership) as still being a partner of the limited liability partnership unless— (a) the person has notice that the former partner has ceased to be a partner of the limited liability partnership; or (b) notice that the former partner has ceased to be a partner of the limited liability partnership has been delivered to the Registrar. 12 (4) The cessation of a partner from the limited liability partnership does not by itself discharge the partner from any obligation to the limited liability partnership or to the other partners or to any other person which he incurred while being a partner. (5) Where a partner of a limited liability partnership ceases to be a partner, unless otherwise provided in the limited liability partnership agreement, the former partner or a person entitled to his share in consequence of the death or insolvency of the former partner, shall be entitled to receive from the limited liability partnership— (a) an amount equal to the capital contribution of the former partner actually made to the limited liability partnership; and (b) his right to share in the accumulated profits of the limited liability partnership, after the deduction of accumulated losses of the limited liability partnership, determined as at the date the former partner ceased to be a partner. (6) A former partner or a person entitled to his share in consequence of the death or insolvency of the former partner shall not have any right to interfere in the management of the limited liability partnership.
Can an individual who is the nominee of a body corporate ( designated partner) in LLP be added in the LLP as designated Partner?
partner
designated
appointment
Is it mandatory for a person designated as Deputy CFO of a Company to sign the financial statements?
Click here to view / answer Share it oncompany
deputy
designated
Hello members,
1) There is a resignation of one designated partner in LLP
Can that designated partner sign on RoC form during notice period.
2) With respect to name change of LLP
Which form should be filed first form 3 or form 5 ?
partner
designated
Dear All,
There are only 2 designated partners in LLP. One DP wanted to resign and we wanted to appoint a new DP in his place. Please provide Procedure and draft documents,
partner
designated
resignation
addition
Hello Members,
Request you to let me know the difference between Partners as well as Designated Partners in LLP. I have read various articles. But nowhere an opinion is provided in what way partner is different from Designated Partner.
partner
designated
between
difference
Dear All,
Now an existing LLP intends to induct a new Designated Partner, but the new / proposed DP does not have a DPIN. Can we attach a Resolution (along with PAN and AADHAR of the Applicant duly self attested) passed by the existing Designated Partners that the LLP intends to appoint Mr. X as the new DP upon his acquisition of DPIN and proceed to file Form DIR-3 or a Resolution by the Partners of the LLP is necessary to be attached
partner
designated
proposed
dpin
Dear All,
Now an existing LLP intends to induct a new Designated Partner, but the new / proposed DP does not have a DPIN. Can we attach a Resolution (along with PAN and AADHAR of the Applicant duly self attested) passed by the existing Designated Partners that the LLP intends to appoint Mr. X as the new DP upon his acquisition of DPIN and proceed to file Form DIR-3 or a Resolution by the Partners of the LLP is necessary to be attached
partner
designated
proposed
dpin
Dear Members,
Please help on the following query:
In a LLP, the profit sharing ratio between 2 designated partners have changed from 50-50 to 75-25.
Can they also change their contribution obligation from 50,000 each to 75,000 & 25,000.
Is this permissible.
You are requested to reply as soon as possible.
partner
designated
obligated
contribution
reduction
