Body corporate can become a partner in llp
This query is : Resolved
08 December 2015
my query,is whether body corporate can be a designated partner in LLP, If yes, whether it is necessary that object clause of such body corporate shall permit to become a partner in LLP.
09 December 2015
Following can become a partner in the LLP:
a) Company incorporated in and outside India
b) LLP incorporated in & outside India
c) Individuals resident in & outside India
In case any Body Corporate is a partner, than it will be required to nominate any person (natural) as its nominee for the purpose of the LLP.
Yes it is necessary that object clause of the company shall permit the company to become partner in LLP.
a) Company incorporated in and outside India
b) LLP incorporated in & outside India
c) Individuals resident in & outside India
In case any Body Corporate is a partner, than it will be required to nominate any person (natural) as its nominee for the purpose of the LLP.
Yes it is necessary that object clause of the company shall permit the company to become partner in LLP.
10 December 2015
Thanks sir for Reply, but sir if we look into the whole transaction it seems that company is not directly become a partner it's just made a investment In that llp. and most of the companies in india nowadays invested in LLP without altering their object clause....so it is mandatory to alter the object clause.........
10 December 2015
Generally basic format of MOA contains clause of entering into partnership for benefit of the company.
Check you MOA once.
Check you MOA once.
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