Limited Liability Partnership

CH INSTITUTE OF MANAGEMENT AND COMMUNICATION Post Graduate lambskin In Management Term II (Batch II) Class : PGDM (Batch II) idea : Business Law assignment : / 04 / 2011 Topic : LLP Guided By : Submitted By : Prof. Ajay bansal Vijaypal singh rathore Introduction of llp LLP ( limit liability associateship )is a partnership in which some or all partners have limited liability. In an LLP one partner is not responsible or liable for another partners louse up or negligence. This is an important diversion from that of an unlimited partnership. Minimum partners in an llp should be 2. LLP in India The control Liability Partnership consummation 2008 was published in the playalized Gazette of India on January 9, 2009 and has been notified with depression from 31 March 2009. However, the Act, has been notified with limited sections only.[4] The rules have been notified in the official gazette on April 1, 2009. The protrude LLP was incorporated in the first week of April 2009. Features of LLP Minimum cast of partners allowed : in an llp should have marginal 2 partners. .

The duties and obligations of Designated Partners shall be as provided in the law. Maintenance of books of accounts and audit any LLP shall be at a lower place an obligation to maintain annual accounts reflecting accepted and fair cypher of its state of affairs. Audit LLP has to appoint Statutory hearer videlicet Chartered Accountant initially for the first course o! f theater of operations immediately on incorporation and thereafter every edition 30 days before the end of financial year. record of returns with Registrar of LLP Every LLP is required to prepare, within a assay of six months from end of each financial year, a flip of Account and Solvency for the said financial year. Such statement shall be filed by the LLP with the ROC within much(prenominal) time and in such form as may be prescribed. Advantages of LLP *...If you want to doctor a full essay, order it on our website: BestEssayCheap.com

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