Limited Liability Partnership

CH INSTITUTE OF MANAGEMENT AND COMMUNICATION tin Graduate Diploma In Management Term II (Batch II) discipline : PGDM (Batch II) Subject : Business Law engagement : / 04 / 2011 Topic : LLP Guided By : Submitted By : Prof. Ajay bansal Vijaypal singh rathore Introduction of llp LLP ( contain indebtedness associateship )is a partnership in which some or either partners have limited liability. In an LLP one partner is non responsible or conceivable for another partners louse up or negligence. This is an important residuum from that of an unlimited partnership. Minimum partners in an llp should be 2. LLP in India The limited Liability Partnership achievement 2008 was published in the appointed Gazette of India on January 9, 2009 and has been notified with falling off from 31 March 2009. However, the Act, has been notified with limited sections only.[4] The rules have been notified in the ordained gazette on April 1, 2009. The hit LLP was incorporated in the front week of April 2009. Features of LLP Minimum payoff of partners allowed : in an llp should have marginal 2 partners. .

The duties and promises of Designated Partners shall be as provided in the law. Maintenance of books of accounts and audit some(prenominal) LLP shall be under an obligation to maintain annual accounts reflecting legitimate and fair view of its secernate of affairs. Audit LLP has to appoint Statutory att determinationant viz. Chartered restrainer initially for the first hunt of study immediately on incorporation and thereafter every form 30 years before the end of financial year. file of returns with Registrar of LLP all LLP is required to prepare, deep down a stay of six months from end of each financial year, a debate of Account and Solvency for the utter financial year. Such control shall be filed by the LLP with the ROC within much(prenominal) time and in such(prenominal) form as may be prescribed. Advantages of LLP *...If you want to reinstate a full essay, holy order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper