Query urgent about llp

Page no : 2

srinivass (CA Final) (2466 Points)
Replied 12 January 2012

Thanks Nehajain and sanket and Reenu for ur valuale participation in my doubt ....i feel it will help to some one effectifley because of our groupparticipation

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CA Ruskin B (Member) (2602 Points)
Replied 12 January 2012

i didn't know the law ... but logically there is no reason to not to admit llp asa partner.. but what i say if experts opine like that... any way it is clear now...thank you all..

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Prashanth (Chartered Accountant) (2322 Points)
Replied 12 January 2012

Dear all,

LLP as it is defined as body corporate by the companies act so their is no restrictions on becoming a partner in another LLP......

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chetan (Practice) (25 Points)
Replied 13 January 2012

LLP can become partner in another LLP.........

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srinivass (CA Final) (2466 Points)
Replied 14 January 2012

thanks to all for giving valuable sharings

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Satish Rathi (Service) (40 Points)
Replied 16 January 2012

Just to confirm Sanket's view, Section 2(d) of LLP act defines Body Corporate n that defination includes LLP. And Section 5 of LLP Act says that any individual or Boady Corporate can become member of LLP.

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Ajinkya Kurdukar (Lawyer) (44 Points)
Replied 25 January 2012

Srinivas,

Kindly remember this thumb rule.. LLP is an entity with almost all the basic advantages of a company. hence all the advantages that we have in a Company, you will get those in an LLP. hence, yes, an LLP can be a partner in an LLP.

For reference study LLP act 2008