Master TDS & TCS Provisions with Critical Issues. Register Now!

LLP: nominee designated partner

Manjiri (Professional) (23 Points)

19 February 2021

In a LLP if there are two body corporate as a partners and they have appointed one nominee designated partner. If a partner wish to appoint second ( additional) nominee designated partner, is it allowed? Form-4 is not having option for the same. Please let me know if more than one nominee designated partner can be appointed for the same body corporate?

Reply
Follow
Share

2 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5976 Points)
Replied 20 February 2021

In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners

nder the LLP Act 2008, there appears to be no restriction on the nomination of an individual as a Designated Partner by multiple body corporates. However, such an individual shall be counted as ‘one Designated Partner’ for the purpose of the LLP Act, 2008.

Upgrade to CAclubindia Pro. Subscribe Now!

Manjiri (Professional) (23 Points)
Replied 22 February 2021

Thank you for the reply. But, my question here is a body corporate allowed to appoint two nominee designated partner or only one designated partner? or where two body corporate are partners in LLP. Can one of them body corporate appoint additional nominee designated partner. ( ie, total three nominee designated partners representing two body corporates?)