Law stated in this book is as updated till 1st January, 2026
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2.4-1
2.4-3
2.5
Pe nal t y f or vi ol ati o n of pr ovi si o ns r el ati ng t o r e gi st er e d of fice 42
Obt ai ni ng DI N f or desi g nat e d part ners 43
2.5-1 Pr oce d ur e aft er a ppr oval of DI N
2.5-2 Post- a ppr oval c ha nges i n parti c ul ars of DI N
2.5-3 Pr ovi si o ns of Co mpa ni es Act, 2013 a ppl y
2.5-4
2.5-5
2.6
Pr oce d ur e f or o bt ai ni ng DI N a nd KYC
Fili ng DI R- 3- KYC or DI R- 3- KYC- WE B e ver y fina nci al ye ar by e ver y di r ect or 46
Di gi t al Si g nat ur e Certi fic at e ( DS C) 47
2.6-1
2.6-2
2.6-3
2.7
Certi f yi ng Age nci es a ut hori s e d t o i ss ue DS C
Re gi st r ati o n of DS C a nd r ol e- c hec k
Pr oce d ur e f or r e gi st r ati o n of DS C
Re gi st r ati o n of us er 49
2.8 Fili ng i nc or por ati o n doc u me nt
3.2-2
3.3-1 M i ni mu m n u mber of part ners
s
3.3-2
3.3-3
3.3-6
3.3-7
3.4
Co mpa ny as me mber
Part ners hi p fir m or HUF c a nnot be part ner
Re gi st er e d Cooper ati ve Soci et y c a n be part ner
3.3-8 Tr ust c a nnot be a part ner
3.4-1
3.4-2 Cess ati o n as part ner
3.4-3 I nti mati o n of r esi g nati o n as part ner ot hers a nd t o Re gi st r ar 66
3.4-4
3.4-5
No r est ri cti o n o n part ner o n c o mpeti ng b usi ness aft er he r eti r es, unl ess LLP agr ee me nt pr ovi des
Ex p ul si o n of part ner
3.5 Cha nge i n na me or a ddr ess of part ner
3.5-1
3.5-2
3.5-3
3.6
Noti ce of c ha nge i n part ners t o Re gi st r ar 67
Pr oce d ur e f or fili ng of c ha nge w i t h Re gi st r ar 68
Pe nal t y f or c o nt r ave nti o n of pr ovi si o ns r el ati ng t o c ha nge of part ner 68
Ext e nt of li a bili t y of li m i t e d li a bili t y part ners hi p f or act s of part ners 68
3.6-1
3.6-2
Part ner li a bl e t o ot her part ners f or hi s wr o ngf ul act s 69
Pr oper pr ovi si o n LLP Agr ee me nt f or a d m i ssi o n or cess ati o n of part ner 69
3.7 I nde mni t y t o a nd by part ner 70
3.8
Li a bili t y of part ner by hol di ng o ut 70
3.9 Unli m i t e d li a bili t y of part ners a nd LLP i n c as e of f r a ud 71
3.9-1
3.10
Whi stl e bl o w i ng 72
Desi g nat e d part ners a nd t hei r r ol e 73
3.10-1
3.10-2
3.10-3
Desi g nat e d part ner must have DI N a nd fil e c o ns e nt 74
Li a bili ti es of desi g nat e d part ners 75
Vac a nc y t o be fill e d w i t hi n 30 days 75
3.10-4 No i mpli e d a ut hori t y t o desi g nat e d part ners 75
3.10-5
3.10-6
3.10-7
Di s q uali fic ati o n as desi g nat e d part ner 76
Rest ri cti o n o n n u mber of LLPs i n whi c h pers o n c a n be desi g nat e d part ner 78
Vac ati o n of of fice of desi g nat e d part ner 79
3.11 Puni s h me nt f or c o nt r ave nti o n of pr ovi si o ns of s ecti o ns 7, 8 a nd 9 r el ati ng t o desi g nat e d part ners
3.12
Re gi st er of Part ners 81 3.13 Si g ni fic a nt Be ne fici al o wners i n LLP 81
3.13-1 Si g ni fic a nt be ne fici al o wners hi p r ul es 83A
3.13-2 Decl ar ati o n of be ne fici al i nt er est i n a ny c o nt ri - b uti o n 83B
4.1 Agr ee me nt a mo ng part ners 84 4.1-1 Rel ati o ns hi p of
Pr e-i nc or por ati o n c o nt r act s
St a ndar d c o ndi ti o ns of LLP
4.4-2 Exe c uti ve / Ma na gi ng Co m m i t t e e i n c as e of l ar ge LLP 89
mber of
4.5-1
4.5-2 Mo del LLP Agr ee me nt
4.5-3 Sa mpl e a me nd me nt t o LLP Agr
Annex
5
ACCOUNTS, AUDIT AND ANNUAL RETURNS OF LLP
5.1 Pr oce d ur al r e q ui r e me nt s t o be f oll o we d by LLP
5.2
5.3
5.4
5.5
Mai nt e na nce of books of acc o unt, ot her r ec or ds a nd a udi t
Audi t of acc o unt s of LLP
5.2-1
5.2-2
5.2-3 Re moval of a udi t or
Pe nal t y f or f ail ur e t o c o mpl y w i t h pr ovi si o ns of fina nci al di s cl os ur es a nd a udi t
Acc o unti ng a nd a udi ti ng st a ndar ds by NF RA
Ann ual r et ur n by LLP
5.5-1
5.5-2
6.1
6.2
6.3
Certi fic ati o n of a nn ual r et ur n by pr acti si ng
Co mpa ny Secr et ar y
Pe nal t y f or f ail ur e t o fil e a nn ual r et ur n
ROUTINE
MANAGEMENT OF LLP
Fr ee do mi n day t o day ma nage me nt of LLP
Co mpli a nce of r et ur ns w i t h ROC
6.1-1
Meeti ngs of part ners a nd exec uti ve/ ma nagi ng c o mm i tt ee
Fi rst meeti ng of all part ners
6.2-1
Subs e q ue nt meeti ngs of exec uti ve/ ma nagi ng c o mm i tt ees or all part ners
6.4 So me dr aft r es ol uti o ns
ADMINISTRATIVE CONTROL OVER LLP
7.1 M i ni st r y of c or por at e aff ai rs as a d m i ni st r ati ng a ut hori t y
7.2
7.3
Re gi o nal di r ect ors
Re gi st r ar a nd r e gi st r ati o n of fices
7.3-1
7.3-2
7.3-3
7.3-4
7.4
Po wer of Re gi st r ar t o o bt ai n i nf or mati o n
Enf or ce me nt of d ut y t o ma ke r et ur ns, et cPo wers t o NCLT
Dest r ucti o n of ol d r ec or ds w i t h Re gi st r ar
I ns pecti o n of doc u me nt s fil e d w i t h Re gi st r ar
Fili ng of doc u me nt s a nd r et ur ns w i t h r eg ul ati ng a ut hori t y
7.4-1
7.4-2
7.4-3
7.4-3A
7.4-3B
7.4-4
El ect r o ni c fili ng of doc u me nt s
Copy certi fie d by Re gi st r ar t o be e vi de nce 127
Ce nt r ali s e d pr ocessi ng of cert ai n f or ms of LLP 128
Ce nt r al Pr ocessi ng Ce nt er 128
Cha nge Re q uest For m( C RF) o n MCA- 21
Pe nal t y f or f al s e st at e me nt i n r et ur n or st at e me nt 129
7.5 Pay me nt of f ees f or vari o us p ur pos es under LLP Act 129
7.5-1
7.5-2
7.5-3
7.5-4
7.5-5
7.5-6
7.5-7
7.5-8
7.6
7.7
Fees f or r egi st r ati on of LLP or c onversi ont o LLP 130
Fees f or i ncr e asi ng c o nt ri b uti o n
Fees f or fili ng vari o us doc u me nt s 130
Fees f or fili ng det ail s of c ha nges of part ner or desi g nat e d part ner a nd hi s c o ns e nt 131
Fees f or c onversi on of appli cati onf or r es er vati on of na me or c ha nge of na me
Fees f or a ppli c ati o n under r ul e 18( 3) of LLP Rul es f or r es er vati o n or r e ne wal of na me 131
Fees f or i ns pecti o n of doc u me nt s or o bt ai ni ng certi fie d c opy
Fees f or fili ng of doc u me nt s by For ei g n LLP
Addi ti o nal f ees f or del aye d fili ng of doc u me nt s 132
Co ndo nati o n of del ay i n ma ki ng a ppli c ati o n a nd fili ng doc u me nt s
7.8 For ms under LLP r ul es
8.1
8.2
COMPROMISE AND ARRANGEMENT
Co mpr o m i s e, or arr a nge me nt of LLP
8.1-1 What i s ‘ c o mpr o m i s e ’
Rec o nst r ucti o n a nd a mal ga mati o n
Obj ecti ves of a mal ga mati o n
8.2-1
8.2-1A LLP c a nnot be a mal ga mat e d w i t h a c o mpa ny
8.2-2
8.2-3
8.3
8.4
8.5
Val uati o n of s har es a nd e xc ha nge r ati o 138
Co urt’ s d uti es i n s a ncti o ni ng a s c he me 138
Meeti ng of cr e di t ors or part ners t o a ppr ove c o mpr o m i s e or arr a nge me nt 140
Po wer of t ri bunal t o e nf or ce c o mpr o m i s e or arr a nge me nt 142
Pr ovi si o ns f or f acili t ati ng r ec o nst r ucti o n or a mal ga ma - ti o n of LLP 142
8.5-1
8.5-2
8.5-3
NCLT c a n pass or der o nl y aft er r ecei pt of s at - i sf act or y r e port f r o m Re gi st r ar, i f LLP under w i ndi ng up 143
NCLT s hall not pass or der of di ss ol uti o n un - l ess s ati sf act or y r e port r ecei ve d f r o m Of fici al Li q ui dat or 143
Pr opert y t o be t r a nsf err e d f r ee f r o ma ny c har ge 144
8.5-4 Li a bili t y of st a mp d ut y o nt r a nsf er of ass et s aft er a mal ga mati o n 144
8.5-5
Pe nal t y i f or der of NCLT not fil e d w i t h Re gi st r ar 144
8.6 Pr ocee di ngs under i ns ol ve nc y c o de
WINDING UP AND STRIKE OFF DEFUNCT LLP
9.1 LLP i n t r o ubl e d ti mes
9.1-1 Basi c pr ovi si o ns f or w i ndi ng up 146
9.2 W i ndi ng up a nd di ss ol uti o n of LLP 147
9.2-1
Ci r c u mst a nces i n whi c hli m i t e dli a bili t y part ners hi p may be wo und up by Tri b unal
9.3 Rul es f or w i ndi ng up a nd di ss ol uti o n
9.4 St ri ke off def unct LLP
9.4-1
10.1
Appe al bef or e NCLT agai nst or der of r e moval of na me of LLP 149
INVESTIGATION OF AFFAIRS OF LLP
M i s ma nage me nt i n LLP
10.1-1
Appoi nt me nt of i ns pect ors by Ce nt r al Gover nme nt
10.1-2 Whe n i nvesti gati o n s ho ul d be or der e d 152
10.2 Ci r c u mst a nces wher e i nvesti gati o n c a n be or der e d 152
10.2-1
10.2-2
10.2-3
10.3
10.4
Appoi nt me nt of i ns pect ors i f Co urt or NCLT or ders i nvesti gati o n 152
Appoi nt me nt of i ns pect ors i f at l e ast 20 % of part ners ma ke a ppli c ati o n 153
Appoi nt me nt of i ns pect ors i f LLP i t s el f a ppli es 153
10.2-4 Suo motu a ppoi nt me nt of i ns pect ors by Ce nt r al Gover n me nt i t s el f 153
Po wer of i ns pect ors t o c arr y o ut i nvesti gati o ni nt o aff ai rs of r el at e d e nti ti es, et c. 154
Pr o d ucti o n of doc u me nt s a nd e vi de nce d uri ng i nvesti - gati o n 154
10.4-1 I ns pect or c a n e xa m i ne under oat h 155
10.4-2 I mposi ti o n of fine i f books not pr o d uce d or pers o n does not a ppe ar 155
10.4-3
10.5
Not es of e xa m i nati o n c a n be us e d as e vi de nce 156
Sei z ur e of doc u me nt s byi ns pect or o n or der of magi st r at e 156
10.6 I ns pect or ’ s r e port 157
10.7
10.8
10.9
10.10
10.11
Pr os ec uti o n o n basi s of i ns pecti o n r e port 157
Appli c ati o n f or w i ndi ng up of LLP o n basi s of i ns pecti o n r e port 157
Pr ocee di ngs f or r ec over y of da mages or pr opert y 158
Ex pe ns es of i nvesti gati o n 158
I ns pect or ’ s r e port t o be e vi de nce 159
11.1
11.2
OFFENCES, PUNISHMENTS AND PENALTIES
Pe nal t y, fines a nd i mpri s o n me nt
Pe nal t y f or c o nt r ave nti o n of pr ovi si o ns of LLP Act
11.2-1
11.2-2
11.2-3
11.2-4
11.2-5
11.2-6
11.2-7
11.2-8
11.2-9
11.2-10
11.3
Resi d ual Pe nal t y wher e s peci fic pe nal t y not pr ovi de d i n LLP Act 161
Adj udi c ati o n of Pe nal t y
I mposi ti o n of pe nal t y by a dj udi c ati ng of ficer 161
Di r ecti o n t o r ecti f y t he def a ul t 162
Opport uni t y of pers o nal he ari ng 162
Pr oce d ur e f or Adj udi c ati o n of pe nal ti es 162
Appe al t o Re gi o nal Di r ect or agai nst or der of
Re gi st r ar 166
Pr oce d ur e f or a ppe al bef or e Re gi o nal Di r ect or 166
I mposi ti o n of fine o n LLP i f or der of Re gi st r ar or RD not c o mpli e d w i t h 169
P u ni s h me nt of i mpri s o n me nt a n d fi ne t o p art ner, i f or der of Re gi st r ar or R D n ot c o mpli e d w i t h 169
Co mpo undi ng of off e nces 169
11.3-1
11.3-2
11.3-3
11.3-4
11.3-5
11.3-6
11.3-7
11.3-8
What i s c o mpo undi ng 169
Re gi o nal di r ect or c a n c o mpo und off e nces p un - i s ha bl e o nl y fine 171
Co mpo undi ng c a n be o nl y o nce i n t hr ee ye ars f or si mil ar off e nce 171
Appli c ati o n f or c o mpo undi ng a n off e nce 171
I nti mati o n t o Re gi st r ar i f off e nce c o mpo unde d by RD 171
No pr os ec uti o n i f off e nce i s c o mpo unde d 172
W i t hdr a wal of pr os ec uti o n i f c o mpo undi ng do ne aft er fili ng of c o mpl ai nt 172
Di r ecti o n t o fil e doc u me nt s w i t h r e q ui si t e f ees e ve n i f off e nce c o mpo unde d 172
11.4 Cri m i nal Co urt a nd Speci al Co urt
Speci al c o urt s
12
OTHER PROVISIONS IN RESPECT OF LLP
12.4-1 Re gi st r ati o n aft er c o nversi o n f r o mfir mor c o mpa ny t o LLP a nd eff ect of c o nversi o n
12.4-2 Eff ect of c o nversi o n f r o m fir m or c o mpa ny i nt o LLP
12.4-3 All pr opert y vest s i n LLP aft er c o nversi o n a nd e arli er fir m or c o mpa ny get s di ss ol ve d
12.4-4 Co mpa ny c a n c o nvert i nt o LLP o nl y i f t her e i s no ‘ s ec uri t y i nt er est’ i n i t s ass et s s ubsi sti ng 183
12.4-5
12.4-6
12.4-7
Ot her pr ovi si o ns r el ati ng t o c o nversi o n f r o m c o mpa ny or fir mt o LLP 184
I nc o me- t ax as pect s of Co nversi o n of pri vat e or unli st e d c o mpa ny t o LLP 184
I nc o me-t ax as pect s of Conversi on of part ners hi p fir mi nt o LLP
12.5 LLP as part ner i n a Part ners hi p Fi r m
Re moval of di f fic ul ti es
13.1
13.2
13.3
TAXATION OF LLP
I nc o me- t ax as pect s of LLP
Resi de nti al st at us of LLP
13.2-1
Pl ace of Eff ecti ve Ma nage me nt of LLP
Re muner ati o n t o part ners
13.3-1
13.4
13.5
13.6
13.7
Co ndi ti o ns f or all o w i ng de d ucti o n of r e muner - ati o n
Re q ui r e me nt s of LLP agr ee
13.4-1 Re muner ati o n pai d a bove li m i t s of s ecti o n 40(b ) will be e xe mpt at ha nds of part ner of LLP
Re muner ati o n t o no m i nee of part ner
13.5-1
Re muner ati o n t o part ner i n r e pr es e nt ati ve c a paci t y 191
I nt er est t o part ners
Di s all o wa nce of r e muner ati o n a nd i nt er est u/s 40 A( 2) 192
13.7-1 T DS under I nc o me Tax 192
13.8 Pr oce d ur al r e q ui r e me nt s t o be c o mpli e d by LLP 192
13.8-1
Veri fic ati o n of I T r et ur n 193
13.8-2 I nc o me- t ax r at e f or LLP 193
13.9 LLP r ec og ni z e d as st art- up 193
13.10 A MT i nst e a d of MAT 194
13.11
13.12
No pr es u mpti ve t axati o n s c he me 195
Li a bili t y of part ner t o war ds li a bili t y of i nc o me- t ax of LLP 195
15.1
15.4 Ad m i ni st r ati on of F E M( Overs eas I nvest me nt) Rul es, 2022
APPENDICES
u Li m i t e d Li a bili t y Part ners hi p Act, 2008
u Li m i t e d Li a bili t y Part ners hi p Rul es, 2009
u Li m i t e d Li a bili t y Part ners hi p ( A me nd me nt) Act, 2021
INCORPORATION OF LLP
2.1 INTRODUCTION
T wo or mor e pers o ns c a n ass oci at e f or c arr yi ng o ut a ny l a wf ul b usi ness w i t h a vi e wt o pr ofi t The y have t o fil e ‘ i nc or por ati o n doc u me nt’ [ si mil ar t o Me mor a nd u m of Ass oci ati o n of a c o mpa ny], c o nt ai ni ng pr es cri be d det ail s li ke na me, pr opos e d b usi ness, a ddr ess of r e gi st er e d offi ce, na me a nd a ddr ess of part ners, na me a nd a ddr ess of desi g nat e d part ners a nd ot her i nf or mati o n as may be pr es cri be d by r ul es [ Secti o n 11( 2) of LLP Act, 2008].
The i nc or por ati o n doc u me nt s ho ul d be fil e d el ect r o ni c all y w i t h Re gi s - t r ar havi ng j uri s di cti o n over t he r e gi st er e d offi ce of LLP i n f or m Fi LLi P
[ For m f or i nc or por ati o n of Li m i t e d Li a bili t y Part ners hi p] [ Rul e 11 of LLP Rul es, 2009]
2.1-1 Incorporation document
For a li m i t e d li a bili t y part ners hi p t o be i nc or por at e d - ( a ) t wo or mor e pers o ns ass oci at e d f or c arr yi ng o n a l a wf ul b usi ness w i t h a vi e w t o pr ofi t s hall s ubs cri be t hei r na mes t o a ni nc or por ati o n doc u me nt (b ) t he i nc or por ati o n doc u me nt s hall be fil e d i n s uc h ma nner a nd w i t h s uc h f ees, as may be pr es cri be d w i t h t he Re gi st r ar of t he St at e i n whi c h t he r e gi st er e d offi ce of t he li m i t e d li a bili t y part ners hi p i s t o be si t uat e d; a nd ( c ) t her e s hall be fil e d al o ng w i t h t he i nc or por ati o n doc u me nt, a st at e me nt i n t he pr es cri be d f or m , ma de by ei t her a n a dv oc at e, or a Co mpa ny Secr et ar y or a Chart er e d Acc o unt a nt or a Cost Acc o unt a nt, who i s e ngage d i n t he f or mati o n of t he li m i t e d li a bili t y part ners hi p a nd by a ny o ne who s ubs cri be d hi s na me t o t he i nc or por ati o n doc u me nt, t hat all t he r e q ui r e me nt s of t he LLP Act a nd t he r ul es ma de t her e under
2.1
have bee n c o mpli e d w i t h, i n r es pect of i nc or por ati o n a nd matt ers pr ece de nt a nd i nci de nt al t her et o – s ecti o n 11( 1) of LLP Act.
2.1-2 Contents of incorporation document
The i nc or por ati o n doc u me nt s hall ( a ) be i n a f or m as may be pr es cri be d (b ) st at e t he na me of t he li m i t e d li a bili t y part ners hi p ( c ) st at e t he pr opos e d b usi ness of t he li m i t e d li a bili t y part ners hi p (d ) st at e t he a ddr ess of t he r e gi st er e d offi ce of t he li m i t e d li a bili t y part ners hi p ( e ) st at e t he na me a nd a ddr ess of e ac h of t he pers o ns who ar e t o be partners of t he li m i t e d li a bili t y part ners hi p o n i nc or por ati o n (f ) st at e t he na me a nd a ddr ess of t he pers o ns who ar e t o be desi g nat e d part ners of t he li m i t e d li a bili t y part ners hi p o n i nc or por ati o n ( g ) c o nt ai n s uc h ot her i nf or mati o n c o ncer ni ng t he pr opos e d li m i t e d li a bili t y part ners hi p as may be pr es cri be d – s ecti o n 11( 2) of LLP Act.
2.1-3 Punishment for false statement while incorporating LLP
I f a pers o n ma kes a st at e me nt under s ecti o n 11( 1)( c ) whi c h he ( a ) k no ws t o be f al s e; or (b ) does not beli e ve t o be t r ue, s hall be p uni s ha bl e w i t h i mpri s o n me nt f or a t er m whi c h may e xt e nd t o t wo ye ars a nd w i t h fi ne whi c h s hall not be l ess t ha n t e n t ho us a nd r upees b ut whi c h may e xt e nd t o fi ve l a k h r upees – s ecti o n 11( 3) of LLP Act
2.1-4 Procedure for Incorporation of LLP at a glance
Pr oce d ur e at gl a nce i s as f oll o ws:
u T wo part ners t o be desi g nat e d as ‘ desi g nat e d part ners ’ s ho ul d a ppl y a nd get DI N( Di r ect or I de nti fi c ati o n Nu mber) f r o m Ce nt r al Gover n me nt by a ppl yi ng el ect r o ni c all y i n f or m No. 7 a nd s ubs eq ue ntl y s e ndi ng p hysi c al f or ms.
u The desi g nat e d part ners s ho ul d obt ai n D i gi t al Si g nat ur e Certi fi cat e ( DS C) Cl ass II or a bove f r o m a Certi fi c ati o n Age nc y ( CA).
u Us er r e gi st r ati o n - Re gi st er DI N a nd DS C w i t h LLP by vi si ti ng www . ll p. g ov. i n.
u Chec k na me avail a bili t y whi c hi s avail a bl e ont he af or es ai d we bsi t e
u Appl y f or r es er vati o n of na me i n f or m RUN- LLP . Al t er nati vel y, a ppli c ati o n f or r es er vati o n of na me c a n be ma de al o ng w i t h i nc or por ati o n doc u me nt i n f or m Fi LLi P [ For mf or i nc or por ati o n of Li m i t e d Li a bili t y Part ners hi p]
u Aft er o bt ai ni ng r es er vati o n of na me, fill up f or m Fi LLi P [ For m f or i nc or por ati o n of Li m i t e d Li a bili t y Part ners hi p] It has t o be
di gi t all y si g ne d by desi g nat e d part ner a nd a pr of essi o nal ( a dv oc at e / pr acti si ng CA/ CS/I C WA). Upl oa d t he f or m a nd pay f ees el ect r o ni c all y.
u LLP will be i nc or por at e d by ROC a nd r e gi st r ati o n certi fi c at e will be gr a nt e d by Re gi st r ar of Co mpa ni es ( ROC) i n f or m No. 16
u Fil e f or m3 ( I nf or mati o n w i t h r e gar d t o LLP Agr ee me nt) a nd f or m
4 ( Noti ce of a ppoi nt me nt of part ner / desi g nat e d part ner) el ect r o n - i c all y w i t h f ees. The det ail s c a n be s ub m i tt e d ei t her w i t h f or m
Fi LLi P [ For mf or i nc or por ati o n of Li m i t e d Li a bili t y Part ners hi p] i t s el f or w i t hi n 30 days of dat e of i nc or por ati o n. I f not s ub m i tt e d w i t hi n 30 days, a ddi ti o nal f ees wo ul d be paya bl e.
u Se nd ori gi nal c opy of LLP Agr ee me nt whi c h i s d ul y st a mpe d.
u LLP i s no w r e a dy f or c o mme nci ng b usi ness
2.2 NAME OF LLP
Fi rst st e p i s o bt ai ni ng na me a ppr oval Sec o nd st e p i s t o fil e doc u me nt s f or i nc or por ati o n.
Last wor ds of na me s hall be LLP or ‘ Li m i t e d Li a bili t y Part ners hi p ’
Ever y li m i t e d li a bili t y part ners hi p s hall have ei t her t he wor ds “li m i t e d li a bili t y part ners hi p” or t he acr o ny m“ LLP” as t he l ast wor ds of i t s na me – s ecti o n 15( 1) of LLP Act
LLP s ho ul d have na me whi c h s ho ul d not be si mil ar t o na me of ot her e nti t y or t r a de mar k of ot her pers o n
Na me s ho ul d not be undesi r a bl e. [ Secti o n 15( 2)( a ) of LLP Act, 2008].
Na me s ho ul d not i de nti c al or t oo ne arl y r es e mbli ng t o t hat of a ny ot her li m i t e d li a bili t y part ners hi p or a c o mpa ny or a r e gi st er e d t r a de mar k of a ny ot her pers o n under t he Tr a de Mar ks Act, 1999 – Secti o n 15( 2)(b ) of LLP Act, a me nde d vide LLP ( A me nd me nt) Act, 2021 w e f 1- 4- 2022
2.2-1 Reservation of name of LLP
Na me s ho ul d be g ot r es er ve d f r o m ROC under s ecti o n 16 of LLP Act, by s ub m i tti ng a ppli c ati o n i n f or m RUN- LLP ( Res er ve Uni q ue Na me – LLP) w i t h pr es cri be d f ees ( f ee i s as s peci fi e d i n Anne x ur e A of LLP Rul es, 2009) [ f or m c ha nge d w . e. f. 2- 10- 2018]
Al t er nati vel y, a ppli c ati o n f or r es er vati o n of na me c a n be ma de al o ng w i t h i nc or por ati o n doc u me nt i n f or m Fi LLi P [ For mf or i nc or por ati o n of Li m i t e d Li a bili t y Part ners hi p]
Procedure prescribed for reservation of name - A pers o n may a ppl y i n s uc h f or m a nd ma nner a nd acc o mpa ni e d by s uc h f ee as may be pr es cri be d t o t he Re gi st r ar f or t he r es er vati o n of a na me s et o ut i n t he a ppli c ati o n as —( a ) t he na me of a pr opos e d li m i t e d li a bili t y part ners hi p; or (b ) t he na me t o whi c h a li m i t e d li a bili t y part ners hi p pr opos es t o c ha nge i t s na me – s ecti o n 16( 1) of LLP Act.
Upo n r ecei pt of a n a ppli c ati o n under s ecti o n 16( 1) a nd o n pay me nt of t he pr es cri be d f ee, t he Re gi st r ar may, i f he i s s ati sfi e d, s ubj ect t o t he r ul es pr es cri be d by t he Ce nt r al Gover n me nt i n t he matt er, t hat t he na me t o be r es er ve d i s not o ne whi c h may be r ej ect e d o n a ny gr o und r ef err e d t o i n s ecti o n 15( 2) of LLP Act, r es er ve t he na me f or a peri o d of t hr ee mo nt hs f r o mt he dat e of i nti mati o n by t he Re gi st r ar – s ecti o n 16( 2) of LLP Act
The r es er vati o n of na me will be c o mmuni c at e d by ROC w i t hi n s e ve n days I f s uggest e d na me i s r ej ect e d, o ne opport uni t y f or s ub m i ssi o n s hall be gi ve n f or r ecti fi c ati o n of def ect s w i t hi n 15 days [ Rul e 18( 5) of LLP Rul es, 2009 a me nde d w . e. f. 2- 10- 2018].
Name reserved for three months - Na me a ppr ove d will be r es er ve d f or a peri o d of t hr ee mo nt hs f r o m dat e of i nti mati o n by ROC [ Rul e 18( 6) of LLP Rul es, 2009]
2.2-2 Criteria for approval of name
The na me s ho ul d not be i n vi ol ati o n of E mbl e ms a nd Na me ( Pr e ve nti o n of i mpr oper us e) Act, 1950 [ Rul e 18( 1) of LLP Rul es, 2009]. Na me s ho ul d not be off e nsi ve, si mil ar t o e xi sti ng LLP , na me of r e gi st er e d t r a de mar k et c Na mes li ke Cooper ati ve, Nati o nal, Uni o n, Ce nt r al, Fe der al, Re p ubli c, Pr esi de nt, Ras ht r a pati, Co ns ul at e, Muni ci pal, Pa nc hayat, l oc al a ut hori t y et c. ar e not all o we d. Na mes li ke Ba nk, I ns ur a nce, Co mpa ny Secr et ar - i es, Chart er e d Acc o unt a nt, Adv oc at e et c will not be all o we d w i t ho ut a ppr oval of t he r e g ul at or y a ut hori t y [ Rul e 18( 2) of LLP Rul es, 2009]
Approval of concerned regulatory authority - Wher e o ne of t he o bj ect s i s t o c arr y o n b usi ness of ba nki ng, i ns ur a nce or t o pr acti ce pr of essi o n of CA , CS , C MA or Ar c hi t ect, t he c o mpa ny/ LLP c a n be i nc or por at e d o nl y o n pr o d ucti o n of i n- pri nci pl e a ppr oval / NOC f r o mt he c o ncer ne d r e g ul at or / pr of essi o nal I nsti t ut e - MCA ci r c ul ar No. 2/2012 dat e d 1- 32012 a nd proviso t o r ul e 18( 2)(xvi ) of LLP Rul es, 2009.
2.2-2A Reservation of name
The na me s ho ul d not be i n vi ol ati o n of E mbl e ms a nd Na me ( Pr e ve nti o n of i mpr oper us e) Act, 1950 [ Rul e 18( 1) of LLP Rul es, 2009] Na me s ho ul d
not be off e nsi ve, si mil ar t o e xi sti ng LLP , na me of r e gi st er e d t r a de mar k et c. Na mes li ke Cooper ati ve, Nati o nal, Uni o n, Ce nt r al, Fe der al, Re p ubli c, Pr esi de nt, Ras ht r a pati, Co ns ul at e, Muni ci pal, Pa nc hayat, l oc al a ut hori t y et c ar e not all o we d Na mes li ke Ba nk, I ns ur a nce, Co mpa ny Secr et ar - i es, Chart er e d Acc o unt a nt, Adv oc at e et c. will not be all o we d w i t ho ut a ppr oval of t he r e g ul at or y a ut hori t y [ Rul e 18( 2) of LLP Rul es, 2009] Pr ovi si o ns as c o nt ai ne d i n r ul es ar e as f oll o ws.
Rule 18(1) - The na me of t he li m i t e d li a bili t y part ners hi p s hall not be o ne pr o hi bi t e d under t he E mbl e ms a nd Na mes ( Pr e ve nti o n of i mpr oper us e) Act, 1950.
Rule 18(2) - A na me whi c h f all s w i t hi n t he c at e g ori es me nti o ne d bel o w will not ge ner all y be r es er ve d:
(i ) I f i t i ncl udes a ny wor d or wor ds whi c h ar e off e nsi ve t o a ny s ecti o n of t he pe opl e.
(ii ) I f t he pr opos e d na me i s t he e xact H i ndi t r a nsl ati o n of t he na me of a n e xi sti ng li m i t e d li a bili t y part ners hi p i n Engli s h or H i ndi of a n e xi sti ng li m i t e d li a bili t y part ners hi p.
(iii ) I f t he pr opos e d na me has a cl os e p ho neti c r es e mbl a nce t o t he na me of a LLP i n e xi st e nce, f or e xa mpl e, J. K . LLP., J ay Kay.
(iv ) I f i t i ncl udes t he wor d Co- oper ati ve, Sa ha kari or t he e q ui val e nt of wor d ‘ c o- oper ati ve ’ i n t he r e gi o nal l a ng uages of t he c o unt r y
( v ) I f i t c o nnot es t he parti ci pati o n or pat r o nage of t he Ce nt r al or St at e Gover n me nt, unl ess ci r c u mst a nces j usti f y t o, e g , a na me may be dee me d undesi r a bl e i n cert ai n c o nt e xt i f i t i ncl udes a ny of t he wor ds s uc h as Nati o nal, Uni o n, Ce nt r al, Fe der al, Re p ubli c, Pr esi de nt, Ras ht r a pati, et c
(vi ) I f t he pr opos e d na me c o nt ai ns t he wor ds ‘ Bri ti s h I ndi a ’ .
(vii ) I f t he pr opos e d na me i mpli es ass oci ati o n or c o nnecti o n w i t h a ny E mbass y or Co ns ul at e or of a f or ei g n g over n me nt whi c h s uggest s c o nnecti o n w i t h l oc al a ut hori ti es s uc h as Muni ci pal, Pa nc hayat, Zil a Pari s ha d or a ny ot her bo dy c o nnect e d w i t h t he Uni o n or St at e Gover n me nt.
(viii ) O m i tt e d
(ix ) I f i t i s di ff er e nt f r o mt he na me / na mes of t he e xi sti ng li m i t e d li a - bili t y part ners hi p o nl y t o t he e xt e nt of havi ng t he na me of a pl ace w i t hi n br ac ket s bef or e t he wor ds ‘ li m i t e dli a bili t y part ners hi p ’ , f or e xa mpl e, I ndi a n Pr ess ( Del hi ) li m i t e d li a bili t y part ners hi p s ho ul d not be all o we d i n vi e w of t he e xi st e nce of t he LLP na me d I ndi a n
Para 2.2 I NC ORP ORATI ON OF LLP
Pr
ess Li m i t e d Li a bili t y Part ners hi p However, if NOC is received from LLP or company, name can be reserved.
( x ) I f i t i ncl udes na me of r e gi st er e d Tr a de mar k, unl ess t he c o ns e nt of t he o wner of t he t r a de mar k has bee n pr o d uce d.
(xi ) the proposed name is identical with or too nearly resembles the name of any other limited liability partnership or a company [amended w.e.f. 1-4-2022]
[ The e arli er wor ds wer e as f oll o ws - I n c as e t he pr opos e d na me i s i de nti c al w i t h or t oo ne arl y r es e mbl es t he na me of a fi r m or LLP i ncor por at e d out si de I ndi a and r es er ve d by s uc h fi r m , LLP or co mpany w i t h t he r egi st r ar i n acc or da nce w i t h t hes e r ul es].
(xii ) I f i t i s i de nti c al w i t h or t oo ne arl y r es e mbl es t he na me of t he li m i t e d li a bili t y part ners hi p or a c o mpa ny i n li q ui dati o n.
(xiii ) I f i t i ncl udes wor ds li ke ‘ Ba nk’, ‘ I ns ur a nce ’ a nd‘ Ba nki ng ’ , ‘ ve nt ur e c a pi t al’ or ‘ mut ual f und’ or b usi ness acti vi t y i ncl udes t he wor ds li ke ‘ Ba nk’, ‘ I ns ur a nce ’ a nd‘ Ba nki ng ’ , ‘ Ve nt ur e Ca pi t al’ or ‘ mut ual f und’ or s uc h si mil ar na me w i t ho ut t he a ppr oval of t he r e g ul at or y a ut hori t y. Appr oval of r e g ul at or y a ut hori t y s hall be o bt ai ne d at t he ti me of a ppli c ati o n f or i nc or por ati o n or c ha nge of na me of e xi sti ng LLP
(xiv ) O m i tt e d
( xv ) I f t he pr opos e d na me i ncl udes wor ds li ke Fr e nc h, Bri ti s h, Ger ma n et c., unl ess t he part ners s ati sf y t hat t her e i s s o me f or m of c ol - l a bor ati o n a nd c o nnecti o n w i t h t he f or ei g ners of t hat parti c ul ar c o unt r y or pl ace, t he na me of whi c h i s i nc or por at e d i n t he na me.
(xvi ) t he pr opos e d na me of li m i t e d li a bili t y part ners hi p i ncl udes t he wor ds c o mpa ny s ecr et ar y, c hart er e d acc o unt a nt, a dv oc at es or s uc h si mil ar wor ds as i ndi c ati ve of a pr of essi o n, as part of t he pr opos e d na me, t he s a me s hall be all o we d o nl y aft er o bt ai ni ng a ppr oval f r o mt he Co uncil of t he g over ni ng I nsti t ut e or s uc h a u - t hori t y as may be no m i nat e d by t he Gover n me nt, i n t hi s be hal f. Appr oval of c o uncil g over ni ng t he pr of essi o n s hall be o bt ai ne d at t he ti me of a ppli c ati o n f or i nc or por ati o n or c ha nge of na me of e xi sti ng LLP .
2.2-3 Criteria for approval of name of a LLP
Foll o w i ng pri nci pl es ar e ke pt i n m i nd whil e s el ecti ng/a ppr ovi ng a na me [ bas e d o n ci r c ul ars i ss ue d by DCA a nd MCA f r o mti me t o ti me]
Name Should not be similar to other names - Na me s ho ul d not be i de nti c al or s ho ul d not t oo ne arl y r es e mbl e t he na me of a not her r e g - i st er e d c o mpa ny.
Name Should not be undesirable - Na me s ho ul d not be c o nsi der e d undesi r a bl e by Ce nt r al Gover n me nt.
Offensive names - Off e nsi ve na me or na me s uggesti ng unl a wf ul acti vi t y i s not per m i ssi bl e.
No violation of Emblems Act
- Na me s ho ul d not vi ol at e pr ovi si o ns of E mbl e ms a nd Na mes ( Pr e ve nti o n of I mpr oper Us e) Act, 1950. ( I nst r uc - ti o ns r ei t er at e d i n ci r c ul ar No. 24/2001 dat e d 21- 11- 2001). - - The Act pr o hi bi t s us e of na mes of UNO , WHO , I ndi a n nati o nal Fl ag, Gover n me nt or i t s de part me nt, Pr esi de nt, Gover nor or Uni o n of I ndi a, Ras ht r a pati, Ras ht r a pati Bhava n, Raj Bhava n, Ma hat ma Ga ndhi, Pri me M i ni st er of I ndi a, Na mes, whe nt he c o mpa ny me dal s & ba dges us e d by Gover n me nt, na me of I nt er nati o nal Ci vil Or ga ni s ati o n or I nt er nati o nal Cri me Poli ce Or ga ni s ati o n, Worl d Met e or ol ogi c al Or ga ni s ati o n, na me a nd s y mbol of Sri Sat hya Sai Ce nt r al Tr ust, Log o/e mbl e m of N HRC ( Nati o nal Hu ma n Ri g ht s Co mm i ssi o n).
Us e of t he e mbl e ms or s e al s of t hes e or ga ni s ati o ns or i nsti t uti o ns i s al s o pr o hi bi t e d
Misleading name not permissible - Na me m i sl e a di ng i. e. ke y wor d s uggesti ng a gr e at s c al e whil e c o mpa ny i s w i t h s mall r es o ur ces Th us, f oll o w i ng ar e r est ri cti o ns - wor d ‘ Cor por ati o n ’ per m i tt e d whe n a ut ho - ri s e d c a pi t al i s Rs. 5 cr or es. Wor ds li ke I nt er nati o nal, Gl o bal, Asi a et c. i s per m i tt e d i f a ut hori s e d c a pi t al i s Rs 1 cr or e Wor ds li ke H i nd ust a n, I ndi a, Bhar at per m i tt e d whe n a ut hori s e d c a pi t al Rs. 50 l a k hs. Wor ds li ke I nd ust ri es / Udy og per m i tt e d i f c a pi t al i s Rs. 1 cr or e. Wor ds li ke ‘ Ent er - pri s e ’ , ‘ Busi ness ’ ‘ Ma n uf act uri ng ’ per m i tt e d whe n c a pi t al i s Rs 10 l a k hs
Abbreviated names only for established company - Abbr e vi at e d na mes ar e not all o we d i n t he fi rst i nst a nce Ho we ver, a n est a bli s he d c o mpa ny may c ha nge i t s na me t o a bbr e vi at e d f or mby s ho w i ng t hat i t has bec o me well k no wn i n i t s fi el d under a bbr e vi ati o n [ DCA ci r c ul ar No. 4/93 dat e d 31. 3. 1993] - e. g. Del hi Cl ot h Mill s Lt d. was per m i tt e d t o c ha nge i t s na me t o DC M Lt d I ndi a n To bacc o Co Lt d was c ha nge d t o I T C Lt d
Names starting with small letters - Na me st arti ng w i t h s mall l ett ers or havi ng s mall l ett ers (li ke ‘ i 2 Tec hnol ogi es Lt d ’ c a n be per m i tt e dDe part me nt ci r c ul ar No. 6/99 dat e d 13. 5. 1999.
2.2
Stand alone genetic name not permitted - Us e of st a nd al o ne ge neti c na me e. g. ‘ Y2 K ’ i s not per m i tt e d. It s ho ul d be w i t h ot her pr oper no un pr ece di ng / s uccee di ngi t - De part me nt ci r c ul ar No. 6/99 dat e d 13. 5. 1999.
Words like bank, trust, investment etc. - Wor ds li ke ba nk, ba nki ng, i nvest me nt a nd t r ust s hall not be all o we d unl ess ci r c u mst a nces j usti f yi t.
Names including word ‘insurance’ - Si nce i ns ur a nce s ect or i s bei ng ope ne d f or e nt r y t o pri vat e s ect or, na me w i t h t he wor d ‘ i ns ur a nce ’ or ‘ ri s k c or por ati o n ’ as part of t he na me will be all o we d o nl y aft er c o ns ul ti ng w i t h RBI a nd I ns ur a nce Re g ul at or y Aut hori t y, J ee va n Bharti Buil di ng, To wer 1, Co nna ug ht Ci r c us, Ne w Del hi 110 001. - De part me nt ci r c ul ar No. 6/99 dat e d 13. 5. 1999. - - Si mil arl y, na me may i ndi c ati ng ‘ i ns ur a nce br oker’ b usi ness s ho ul d be per m i tt e d – DCA ci r c ul ar No 19/2003 dat e d 25- 4- 2003.
Name of mutual fund - Na me c ont ai ni ng wor d‘ mut ual f und’ s hall not be per m i tt e d unl ess s uc h c o mpa ni es ar e act uall y g oi ng t o be i nc or por at e d as mut ual f unds. It has bee n cl ari fi e d t hat NBF Cs / Ni dhi s u/s 620 A ar e not mut ual f unds – PI B Pr ess r el e as e dat e d 14 2 2000
Change of name reflecting software business - Cha nge of na me of c o mpa ny t o r efl ect b usi ness of s oft war e ( e. g. na me c o nt ai ni ng wor ds li ke I nf os ys, Soft war e, Cy ber, Cy bers pace, Co mp ut ers et c ) will be per m i t - t e d o nl y i f a s ubst a nti al porti o n of i t s i nc o me i s deri ve d f r o m s oft war e b usi ness. - PI B pr ess r el e as e dat e d 16- 8- 1999.
2.2-4 Obtaining consent of other companies in group for using group name in name of a LLP
I f a LLP i nt e nds t o us e gr o up na me as part of i t s na me ( e g Ki rl os kar, Bi rl a, Tat a et c. ) i t i s st a ndar d pr acti ce of ROC t o o bt ai n no o bj ecti o n l ett ers f r o m ot her gr o up c o mpa ni es.
I n Kilburn Electricals Ltd. v Regional Director ( 1999) 22 S CL 272 = 99 Co mp Cas 243 ( Ma d. ), i t was hel d t hat i f s uc h NOC i s gi ve n i n r es pect of o ne c o mpa ny, s uc h per m i ssi o n i s r est ri ct e d t o t hat c o mpa ny o nl y a nd does not a ut o mati c all y a ppl y i n r es pect of s ubsi di ar y or a not her c o mpa ny f urt her fl oat e d by s uc h c o mpa ny (i.e. by c o mpa ny t o whi c h NOC was gr a nt e d t o us e gr o up na me).
I n Kirloskar Diesel Recan Ltd. v. Kirloskar Proprietary Ltd. - AI R 1996 Bo m HC 149 = 1997 P T C 17 ( Bo m HC), i t was hel d t hat t r a de mar k i ncl udes t r a de na me or b usi ness na me The na me ‘ Ki rl os kar’ i s us e d by Ki rl os kar gr o up of c o mpa ni es a nd has e ar ne d r e p ut ati o n. That na me c a nnot be us e d by a ny ot her c o mpa ny. [ Ge ner all y, t her e i s no c opyri g ht i n a na me The na me ‘ Mo nt ari’ i s a n i nve nt e d na me Ho we ver, Khosl a,
Ki rl os kar or Pr a kas h ar e ge ner al na mes Eve n t he n, ‘ passi ng off’ acti o n was up hel d. One r e as o n i s t hat na me of a c o mpa ny i s s el ect e d by c hoi ce a nd he nce acti o n of ‘ passi ng off’ i s possi bl e. A s ur na me or pers o nal na me i s not by c hoi ce a nd he nce i n s uc h c as es, ‘ passi ng off’ i s not per m i ssi bl e ]
I n Essel Packaging Ltd. v. Essel Tea Exports ( 1998) 3 Bo m C R 767 = 19 P T C 521 ( Bo m HC), i nj uncti o n was gr a nt e d whe n ‘ Ess el gr o up of c o mpa ni es ’ o bj ect e d t o t he us e of wor d ‘ Ess el’ by a t e a e x port c o mpa ny. It was hel d t hat e ve n i f b usi ness of def e nda nt a nd pl ai nti ff i s di ff er e nt, i n passi ng off acti o n, what has t o be c o nsi der e d whet her us e of t he s a me wo ul d c a us e c o nf usi o n [ I n t hi s c as e, i t was s ho wn t hat s o me pe opl e i ndee d t ho ug ht t hat ‘ Ess el’ gr o up has st art e d t e a e x port b usi ness a nd i n f act, c o ngr at ul at e d t he m o n ne w b usi ness].
I n Hira Lal & Sons (Export) P Ltd. v. UOI ( 2005) 64 S CL 385 ( Del HC), H i r a Lal & So ns ( Ex port) P Lt d. was e xi sti ng si nce 1973. One gr a nds o n of H i r a Lal f or me d a not her c o mpa ny w i t h na me H i r a Lal & So ns ( I) P Lt d. Re gi o nal Di r ect or di r ect e d t he c o mpa ny t o a dd pr efi x ‘ An upa m ’ .
The or der was c o nt est e d. It was hel d t hat si nce H i r a Lal i s na me of gr a ndf at her a nd f a mil y na me, i t s us e c a nnot be de ni e d t o a not her f a mil y me mber.
2.2-5 Free name search facility
Fr ee na me s e ar c h f acili t y ( of e xi sti ng c o mpa ni es / LLPs) i s avail a bl e o n MCA port al www mc a g ov i n ( hy per li nk avail a bl e o n LLP port al )
The s yst e m will pr ovi de t he li st of si mil ar /cl os el y r es e mbli ng na mes of e xi sti ng c o mpa ni es / LLPs bas e d o n t he s e ar c h cri t eri a fill e d up. Th us, o nce na mes of e xi sti ng c o mpa ni es ar e k no w , o ne c a n s el ect a na me whi c h does not cl os el y r es e mbl e a ny e xi sti ng na me
2.2-6 Filling Form RUN-LLP - Application for reservation of name of LLP
Foll o w i ng ar e i mport a nt poi nt s i n c o nnecti o n w i t h fili ng of f or m 1:
Sr. No. of form 1
Guideline for filling the column
2(i )( a ) Appli c ati o n c a n be di gi t all y si g ne d ei t her by i ndi vi d ual part ner or no m i nee of a bo dy c or por at e as part ner
2(i )(b ) Appli c a nt ( desi g nat e d part ner) nee d not have DI N at t hat st age b ut a dvi s a bl e t o have DI N , si nce w i t ho ut t hat, i nc or por ati o n of LLP will not be possi bl e
Para 2.2
Sr. No. of form 1
2(b ) t o 2(k )
Guideline for filling the column
Det ail s of f ull na me, occ upati o n, a ddr ess w i t h ci t y, St at e a nd Pi n c o de, I S O c o unt r y c o de, Co unt r y, e- mail I D , p ho ne a nd f ax s ho ul d be ke pt r e a dy.
3 Det ail s of t wo pr opos e d desi g nat e d part ners s ho ul d be fill e d i n It i s a dr op do wn me n u . At l e ast o ne of t he desi g nat e d part ner s ho ul d be r esi de nt of I ndi a. I f si g nat or y i s no m i nee of bo dy c or por at e, na me of bo dy c or por at e a nd dat e of r es ol uti o n a ppoi nti ng hi m as no m i nee s ho ul d be ke pt r e a dy
Copy of resolution is required to be attached .
5 Thi s c ol u mn i s mai nl y r el e va nt f or Ma har as ht r a a nd Ta mil Na d u as t her e ar e t wo ROCs i n t hes e St at es.
6 Rel e va nt i n c as e of c o nversi o n f r o mfi r m/c o mpa ny t o LLP .
7 I f t he b usi ness r e q ui r es a ppr oval of a ppr opri at e a ut hori t y ( e. g. ba nki ng, st oc k e xc ha nge et c. ) i n pri nci pl e a ppr oval of a ppr opri at e a ut hori t y s ho ul d be att ac he d t o e- f or m
8 Monet ar y val ue of ‘ c ont ri buti on ’ i s e q ui val e nt t o a ut hori z e d capi t al i n c as e of a c o mpa ny
Part B - 9 t o 12
Rel e va nt o nl y f or c ha nge of na me of e xi sti ng LLP
13 Si x na mes s ho ul d be pr opos e d i n or der of pr ef er e nce The na me s ho ul d e nd w i t h wor d ‘ LLP ’ . See g ui deli nes r el ati ng t o nor ms f or a ppr oval of na me of LLP .
14 The ke y wor ds or c oi ne d wor ds i n pr opos e d na me of LLP s ho ul d be e x pl ai ne d.
I f na me i ndi c at es a n acti vi t y, i t s ho ul d be r el at e d t o pr opos e d mai n b usi ness e g ‘ Meer a Oil LLP ’ c a nnot have s oft war e de vel op me nt as i t s mai n b usi ness
15 Det ail s of t r a de mar k i f na me r el at es t o r e gi st er e d or a ppli e d t r a de mar k
2.2-7
Enclosures to form RUN-LLP
Following should be enclosed
u If na mei s of s o me gr o up, NOCf r o mot her gr o up c o mpa ni es s ho ul d be att ac he d
u I f na me r el at es t o t r a de mar k, i t s r e gi st r ati o n or a ppli c ati o n f or r e gi st r ati o n s ho ul d be att ac he d NOC f r o m ot hers who have ri g ht
i n t r a de mar k wo ul d be r e q ui r e d.
u I n pri nci pl e appr oval of appr opri at e a ut hori t y wher ever appli ca bl e
LLP READY RECKONER
AUTHOR : V.S. Datey
PUBLISHER : Taxmann
DATE OF PUBLICATION : January 2026
EDITION : 2026 Edition
ISBN NO : 9789371261715
NO. OF PAGES : 360
BINDING TYPE : Paperback
Rs. 995
DESCRIPTION
The LLP Ready Reckoner is a concise yet authoritative, practice-oriented reference on the law governing Limited Liability Partnerships (LLPs) in India. Designed as a true ready reckoner, the book provides quick and reliable guidance on legal, procedural, and compliance issues across the entire LLP lifecycle—from incorporation and governance to restructuring, investigation, taxation, cross-border investment, and exit. Updated to reflect the law as stated, this Edition reflects the post-amendment LLP framework following the LLP (Amendment) Act 2021. The book goes beyond statutory reproduction to explain how LLP law operates in practice, making it a dependable desk reference for professionals and a structured guide for learners. This publication is beneficial for:
• Chartered Accountants, Company Secretaries, Cost Accountants, & Advocates
• Corporate Law & Tax Consultants
• In-House Legal & Compliance Teams
• Tax Professionals
• Professionals
• Students of Corporate Law, Business Law, & Professional Courses
The Present Publication is the 2026 Edition and has been amended up to 1st January 2026. This book is authored by Mr V.S. Datey, with the following noteworthy features:
• [Lifecycle-based LLP Coverage] End-to-end treatment from formation to strike-off and winding up
• [Statute-plus-Practice Approach] Legal provisions explained with procedural and compliance guidance
• [Post-2021 LLP Framework] Coverage of decriminalisation, revised penalties, adjudication, and regulatory oversight
• [Forms & Filings Orientation] Extensive reference to MCA forms, filing processes, fees, and enclosures
• [Drafting Support] Model LLP Agreement and sample amendments for partner changes
• [Integrated Taxation & FEMA Perspective] LLP law read with Income-tax and FEMA regulations
• [Cross-border Focus] Dedicated coverage of FDI in LLPs and overseas investment by LLPs
• [Ready-reference Design] Structured chapters, paragraph-wise numbering, and comprehensive indices
