India:
Hindu Undivided Families Or Its Karta Not Permitted To Become Partners Or Designated Partners In Limited Liability Partnerships
09 February 2016
Agram Legal Consultants
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The MCA has clarified that only an individual or a body
corporate will be permitted to be partner(s) in Limited Liability
Partnerships ("LLP") and Hindu Undivided
Families or its Karta will not be permitted to become
partners or designated partners in LPPs.
The MCA has provided a much needed clarification regarding
the same. It is pertinent to note that the clarification was
pursuant to recommendation made by a stakeholder.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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