Hi,



Limited Liability Partnership is already confirmed by the parliament.

The salient features of the Limited Liability Partnership are as under:
1. The LLP has an alternative corporate business vehicle that would give the
benefits of limited liability but allows its members the flexibility of
organizing their internal structure as a partnership based on an agreement.
2. The LLP Act does not restrict the benefit of LLP structure to certain classes
of professionals only and would be available for use by any enterprise which
fulfills the requirements of the Act.
3. While the LLP has a separate legal entity, liable to the full extent of its
assets, the liability of the partners would be limited to their agreed
contribution in the LLP. Further, no partner would be liable on account of the
independent or un-authorized actions of other partners, thus allowing individual
partners to be shielded from joint liability created by another partner’s
wrongful business decisions or misconduct.
4. LLP shall be a body corporate and a legal entity separate from its partners.
It will have perpetual succession. Indian Partnership Act, 1932 shall not be
applicable to LLPs and there shall not be any upper limit on number of partners
in an LLP unlike an ordinary partnership firm where the maximum number of
partners can not exceed 20, LLP Act makes a mandatory statement where one of the
partner to the LLP should be an Indian.
5. The taxation of LLPs shall be addressed in the Income Tax Act, 1961 which
regulates taxation of all form of entities.
6. Provisions have been made for corporate actions like mergers, amalgamations
etc.
7. While enabling provisions in respect of winding up and dissolutions of LLPs
have been made, detailed provisions in this regard would be provided by way of
rules under the Act.
8. The Act also provides for conversion of existing partnership firm, private
limited company and unlisted public company into a LLP by registering the same
with the Registrar of Companies (ROC)
9. Nothing Contained in the Partnership Act 1932 shall effect an LLP.
10. The Registrar of Companies (Roc) shall register and control LLPs also.
11. The governance of LLPs shall be in electronic mode based on the successful
model of the present.


The Lok Sabha (Lower House) granted its assent to the Bill on The Limited
Liability Parternship Act 2008 on December 12, 2008 which was earlier passed by
the Rajya Sabha (Upper House) in October 2008.



Regards,

Sumit Patel

NID, 1990-95

theleafdesign.com



From: designindia@... [mailto:designindia@...] On
Behalf Of deepak pathania
Sent: 04 July 2009 08:30
To: designindia@...
Subject: Re: **designindia** Re: THE PROCESS TO REGISTER A DESIGN STUDIO IN
INDIA



i heard from my consulting CA that the govt is toying with the idea of a
"limited liability partnership" company as well...

Thanks and Regards

Deepak Pathania,
Director,
Design Intervention (I) Pvt. Ltd.

NID-1990-95

"You miss 100% of the shots you never take."
– Wayne Gretsky


----- Original Message -----
From: Prof M P Ranjan
To: designindia@... <mailto:designindia%40yahoogroups.co.in>
Cc: kaustav sen ; ranjanmp@... <mailto:ranjanmp%40nid.edu>
Sent: Friday, July 03, 2009 2:54 PM
Subject: Re: **designindia** Re: THE PROCESS TO REGISTER A DESIGN STUDIO IN
INDIA

Dear Kaustav
The registration of companies in India is going through some major changes
in the near future with the ongoing discussions about single person limited
companies being debated and other forms that would encourage incubation that
is being discussed at many levels in government as well as in business and
legal circles. I have been reading articles about this in the Economic Times
of late.

Here is a website that gives a good overview about the process that exists
for the formation of a company and its registration under the present
Company law in India today. This is a private site and I am not endorsing
the site but the information given is useful and clear for a beginner and it
will give anyone wishing to talk to a CA or a Company Law person a
sufficient overview to make their own decisions about the advise that is
given.

I have been advising my students not to form partnership companies with
friends and colleagues without looking at all the dimensions of such an act
since the liability of a partnership is unlimited and can be very risky in
the uncertain event of a breakup in the partnership or in the event of some
major business related losses that can ruin that family of both business
partners. Take a look at the site below: Titled "Forming a Company in
India". It also gives links to four forms that may be needed to be filled
and you can download these and look at it for more information from here.

<
http://www.legalserviceindia.com/company%20law/company_formation_procedure.htm
>

With warm regards

M P Ranjan
from my office at NID
3 July 2009 at 2.35 pm IST

----------------------------------------------------------

Prof M P Ranjan
Faculty of Design
Head, Centre for Bamboo Initiatives at NID (CFBI-NID)
Chairman, GeoVisualisation Task Group (DST, Govt. of India) (2006-2008)
National Institute of Design
Paldi
Ahmedabad 380 007 India

Tel: (off) 91 79 26623692 ext 1090
Tel: (res) 91 79 26610054
Fax: 91 79 26605242

email: ranjanmp@... <mailto:ranjanmp%40nid.edu>
web site: http://homepage.mac.com/ranjanmp
web domain: http://www.ranjanmp.in
blog: <http://www.design-for-india.blogspot.com>
education blog: <http://www.design-concepts-and-concerns.blogspot.com>
education blog: http://www.visible-information-india.blogspot.com

----------------------------------------------------------

On Fri, Jul 3, 2009 at 10:13 AM, Sudhir Sharma <sudhirelephant@...
<mailto:sudhirelephant%40yahoo.com> >wrote:

>
>
>
> Hi Kaustav,
>
> Step one to register any business in India (anywhere) is to catch hold of a
> Chartered Accountant (CA). He would advise you on the nature of the
> registration that you need and can do the formalities for you.
>
> it is easy to find a CA. look into yellow pages, google, or check with
> institute of Chartered Accountants of India. For specific help may be
> someone from chennai can introduce you to their CA.
>
> i dont think the process is online yet in India, though in many countries
> it is possible to do these registrations online.
>
> regards
>
> Sudhir Sharma
> 1983-89 NID
>
> www.sudhirsharma.wordpress.com
>
> --- In designindia@... <mailto:designindia%40yahoogroups.co.in>
<designindia%40yahoogroups.co.in>,
> kaustav sen <kaustavsengupta@...> wrote:
> >
> > Dear All,
> > Â
> > Can anybody please suggest a “dependable†law expert / consultant
to
> register a design studio at Chennai?
> > Â
> > Also, it will be helpful for all ( specially the green horns) if anybody
> can suggest the basic procedure (and requirements) to register a design
> studio in India
> > and in process enlist the most dependable consultants in this regard, if
> possible…
> > Â
> > Looking forward,
> > Â
> > Best regards,
> > Â
> > Kaustav
> > Â
> >
> > Kaustav SenGupta
> > Associate Professor
> > Department of Fashion & Lifestyle Accessories
> > NATIONAL INSTITUTE OF FASHION TECHNOLOGY
> > NIFT Campus
> > Chennai- Tamilnadu
> > India
> > &
> > Internal Design Consultant (IDC)
> > SGSY Project-NIFT- Govt. of India
> > &
> > Founder, Modarator & Head
> > http://ingene.blogspot.com
> > (The first ever Indian youth trend research blog recognized by Google : a
> not for profit initiative "INgene" with more than 300 trendspotters all over
> India)
> > Â
> > my article at hindu:
>
http://www.thehindubusinessline.com/catalyst/2008/12/11/stories/2008121150070300\
.htm
> >
> > --- On Thu, 7/2/09, navdeep kaur <navdeepnid@...> wrote:
> >
> >
> > From: navdeep kaur <navdeepnid@...>
> > Subject: **designindia** Urgent requirement for a vastu consultant
> > To: designindia@... <mailto:designindia%40yahoogroups.co.in>
<designindia%40yahoogroups.co.in>
> > Date: Thursday, July 2, 2009, 12:06 AM
> >
> >
> >
> >
> >
> >
> >
> >
> > Dear All,
> >
> > There is an urgent requirement for a best vastu consultant in india.
> > for a design project, we need expert colour recommendations as per vastu
> for
> > home.
> >
> > it will be great if i can get good recommendations
> >
> > Thanks & Rgds
> >
> > Navdeep Kaur
> > LAD,PGDPD,
> > NID, 2005 Batch
> > Mumbai
> >
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