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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- NRI starting business in India
- GST rate and HSN code for sale of racing horses
- Filling ITR - U
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
