Limited Liability Partnership

CH INSTITUTE OF MANAGEMENT AND COMMUNICATION Post Graduate diploma In Management Term II (Batch II) Class : PGDM (Batch II) field of force : Business Law assignment : / 04 / 2011 Topic : LLP Guided By : Submitted By : Prof. Ajay bansal Vijaypal singh rathore Introduction of llp LLP ( bound liability associateship )is a partnership in which some or all partners have limited liability. In an LLP one partner is not 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 hold in Liability Partnership consummation 2008 was published in the authoritative Gazette of India on January 9, 2009 and has been notified with depression from 31 March 2009. However, t he Act, has been notified with limited sections only.[4] The rules have been notified in the official gazette on April 1, 2009. The send-off LLP was incorporated in the first week of April 2009. Features of LLP Minimum egress 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 under(a) an obligation to maintain annual accounts reflecting accepted and fair setting of its state of affairs. Audit LLP has to appoint Statutory hearer videlicet Chartered Accountant initially for the first! course of case immediately on incorporation and thereafter every attain 30 days before the end of financial year. deposit of returns with Registrar of LLP Every LLP is required to prepare, within a hinderance 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 hurl 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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