Tag Archives: LLP

LIABILITY OF PARTNERS IN LLP

By | August 12, 2015

LIABILITY OF PARTNERS  1. Nature & extent of liability of a partner of an LLP? Every partner of an LLP would be, for the purpose of the business of the LLP, an agent of the LLP but not of the other partners. Liability of partners shall be limited except in case of unauthorized acts, fraud… Read More »

MERGER AND WINDING UP OF LLP s

By | August 12, 2015

MERGER AND WINDING UP OF LLP s  1. Whether two LLPs would be allowed to merge? Provisions of section 60 to 62 of the Act provide for the manner in which compromises or arrangements including mergers and amalgamations involving LLPs shall be allowed. 2. What is the date of implementation of these Guidelines? It is… Read More »

CHANGE IN PARTNERS OF LLP

By | August 12, 2015

CHANGE IN PARTNERS  1. How can a person become a partner of an LLP? Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement. 2. How can… Read More »