Limited Liability Partnerships

by Hitender Mehta

Contents at a Glance

Foreword-Shri Arjun Ram Meghwal, Union Minister of Law & Justice, Government of India(2025)	iii
Foreword-Shri Injeti Srinivas, I.A.S. Secretary, MCA (2019)	ν
Foreword –Dr. M. Veerappa Moily, Union Minister of Corporate Affairs (2012)	vii
Foreword - D.K. Mittal, I.A.S., Secretary, MCA (2011)	ix
Foreword - Shri Ajay Vohra, Senior Advocate	xi
Foreword - CMA Sanjay Gupta, President, ICWAI (2018)	xiii
Message - Shri O.P. Vaish, Senior Advocate	xiv
Message - Shri D. S. Rawat, Secretary General, ASSOCHAM	XV
Message -Smt. Renuka Kumar, I.A.S., Joint Secretary, MCA (2012)	χνί
Preface	xvii
Author's Profile	xxi
Detailed Contents	xxix

Part I

LLP Act - Section-wise Analysis

Chapter 1 Preliminary	3
Chapter 2 Nature of Limited Liability Partnership	37
Chapter 3 Incorporation of Limited Liability Partnership and Matters Incidental Thereto	68
Chapter 4 Partners and Their Relations	98
Chapter 5 Extent and Limitation of Liability of Limited Liability Partnership and Partners	116
Chapter 6 Contributions	129
Chapter 7 Financial Disclosures	139
Chapter 8 Assignment and Transfer of Partnership Rights	175
Chapter 9 Investigation	182
Chapter 10 Conversion into Limited Liability Partnerships	201
Chapter 11 Foreign Limited Liability Partnerships	222
Chapter 12A Compromise, Arrangement, or Reconstruction of Limited Liability Partnerships	243
Chapter 12B Inability to Pay Debts	277
Chapter 13 Winding-up and Dissolution	288
Chapter 14 Miscellaneous	460

Part II

LLP - Specific Issues

Chapter 15 Company versus LLP: A Comparison	533
Chapter 16 Partnership Firm versus LLP: A Comparison	550
Chapter 17 Taxation of Limited Liability Partnerships	560
Chapter 18 Limited Liability Partnerships - A Global Comparison	596
Chapter 19 Foreign Direct Investment in Limited Liability Partnerships	626
Chapter 20 Overseas Investment by Limited Liability Partnerships	662
Chapter 21 Limited Liability Partnerships by and amongst Professionals, viz, CAS, CSS, CWAS	683

Part III

LLP Procedures and Practical Issues

Chapter 22 Incorporation of a LLP	763
Chapter 23 Model Limited Liability Partnership Agreement	775
Chapter 24 Change in Partners / Particulars of Partners	809
Chapter 25 Change of Registered Office of the LLP	812
Chapter 26 Change(s) in the LLP Agreement	815
Chapter 27 Conversion of a Partnership Firm into Limited Liability Partnership	816
Chapter 28 Conversion of a Private Company into Limited Liability Partnership	824
Chapter 29 Conversion of an Unlisted Public Company into Limited Liability Partnership	831
Chapter 30 Registration/ Conversion of a Limited Liability Partnership as a 'Company' under the Companies Act, 2013	839
Chapter 31 Limited Liability Partnership -An Eligible Start-up Entity	847
Chapter 32 Admission of Limited Liability Partnership as Member of Stock Exchange(s)	864
Chapter 33 Admission of Limited Liability Partnership as an Insurance Broker	869

Part IV

Ready Reckoner - Penal Provisions under the LLP Act

Chapter 34 Ready Reckoner - Penal Provisions under the LLP Act	875
Chapter 35 LLP Settlement Scheme, 2020	910
Chapter 36 LLP Amnesty Scheme, 2023	934
Chapter 37 FAQs on Integration of LLP with MCA 21 System	936
Chapter 38 LLP E-Filing - FAQs	940
Chapter 39 Frequently Asked Questions - MCA V3	948

Part V

Act, Rules and Forms

Appendix 1 The Limited Liability Partnership Act, 2008	983
Appendix 2 The Limited Liability Partnership (Amendment) Act, 2021	1044
Appendix 3 The Limited Liability Partnership Rules, 2009	1058
Appendix 4 The Limited Liability Partnership (Winding-Up and Dissolution) Rules, 2012	1099
Appendix 5 The Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023	1289
Appendix 6 MCA Notifications and Circulars	1309
Appendix 7 List of Jurisdictional Adjudicating Officers	1367

About the Author

Hitender Mehta

Mr. Hitender Mehta, FCS, FCA, LLB, is Managing Partner of CENTRUM LEGAL, a corporate legal advisory firm headquartered in Gurugram,India. Advisor to many Indian and multinational companies, his practice areas include corporate laws, Insolvency & Bankruptcy Code, foreign exchange laws, cyber laws, labour and industrial laws, special economic zones, real estate and corporate dispute resolution. He has been advising on legal compliance management, business structuring, giving opinions on complex legal issues and conducting legal due diligence exercises to facilitate business acquisitions, strategic business partnerships, joint ventures, etc.

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