Hiii EveryOne, Ok if I have to start LLP and my other partner does'nt want to take part in the management role of the company so can i keep that partner as a sleeping partner and manage the company by my own ?
Is it possible that one partner that does not want to take part in management role can he give authority to other person to manage?
yes.
In LLP Agreement you can empower the special powers to the other partner. Designation of such partner shall be "Managing Partner" in the LLP.
QUESTION: THE ACT SPECIFIES TWO DESIGNATED PARTNERS. IF ONE WERE TO BE SLEEPING PARTNER. THAN YOU WOULD HAVE ONE DESIGNATED PARTNER.
IS IT POSSIBLE OR IT WOULD CONTRAVENE THE ACT.
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