Can llp invest in shares

Dear Member,

Can a LLP works only for investing in shares of other Companies? Is it permissible

Somewhere its written that  LLP can be a shareholder.. and somewhere its written that if LLP invests in shares of other Companies than RBI approval is required..

I'm confused... I have applied for Name avaialbility of Private Company in which LLP is shown as promoter.. Now shall I proceed for Incorporation..can LLP buy shares...won't I face problem from ROC??