Hi Friends,
I am looking at starting a LLP with my friends that can invest in shares, however the Registrar is insisting on getting a NOC from the RBI for the same which the RBI is not giving at the moment. I have been discussing with RBI on this, but they have certain reservations about allowing investment oriented LLP cause they fear that some NBFC's may misuse this route. They are in discussions with the MCA regarding the same and are saying that once all the issues with various participants are resolved we will come out with fresh guidelines regarding investment oriented LLP, but there is absolutely no clarity as to when if at all this will happen.
Can anyone recommend any legal structure by which we can invest in shares as a single entity but at the same time have limited liability as well, since we are just starting out we do not have the minimum fund of Rs. 2 crs needed to form a NBFC.
Responses will be greatly appreciated.
CAclubindia
