Hello,
Let's assume there are 2 legal entities - one is a Private Limited Company named ABC Pvt. Ltd. and the other is a LLP named XYZ LLP.
Can ABC Pvt. Ltd. become a designated partner (with 90% holding) in XYZ LLP? The other designated partner in XYZ LLP is an unrelated individual. Does ABC Pvt. Ltd. have to be a NBFC to be able to hold 90% share in XYZ LLP?
Private limited company have to appoint a nominee to act as designated partner on its behalf.
Thank you for the replies. We have appointed a nominee. That is not the issue. We are concerned whether we (Pvt. Ltd. company) will be breaking any NBFC rule by holding 90% of the shares in the LLP?
Chirag N Shah & Associates
Mumbai
CA Inter
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Arvindkumar Maniar & Co.
Rajkot
CA
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SKAA & Associates
New Delhi
CA Inter
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