Inspires (Executive) (48 Points)
02 February 2012Hiii 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?
Kiran Toshniwal
(Practicing Company Secretary)
(142 Points)
Replied 02 February 2012
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.
Mohan Raj
(CA Business)
(26 Points)
Replied 03 July 2017
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.
CAclubindia
