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
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
