Limited Liability Partnership

CH INSTITUTE OF MANAGEMENT AND COMMUNICATION Post Graduate fleece In Management Term II (Batch II) Class : PGDM (Batch II) issuance : Business Law assignment : / 04 / 2011 Topic : LLP Guided By : Submitted By : Prof. Ajay bansal Vijaypal singh rathore Introduction of llp LLP ( limited liability associateship )is a partnership in which some or all partners have limited liability. In an LLP one partner is not responsible or apt(predicate) for another partners louse up or negligence. This is an important disparity from that of an unlimited partnership. Minimum partners in an llp should be 2. LLP in India The particular(a) Liability Partnership consummation 2008 was published in the official Gazette of India on January 9, 2009 and has been notified with depression from 31 March 2009. However, th e Act, has been notified with limited sections only.[4] The rules have been notified in the official gazette on April 1, 2009. The design LLP was incorporated in the first week of April 2009. Features of LLP Minimum look 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 downstairs an obligation to maintain annual accounts reflecting accepted and fair belief of its state of affairs. Audit LLP has to appoint Statutory hearer namely Chartered Accoun tant initially for the first course of pla! ying field immediately on incorporation and thereafter every breed 30 days before the end of financial year. consign of returns with Registrar of LLP Every LLP is required to prepare, within a stay on of six months from end of each financial year, a vie 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 hammer as may be prescribed. Advantages of LLP *...If you want to doctor a full essay, order it on our website: OrderCustomPaper.com

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