Hindu Undivided Families Or Its Karta Not Permitted To Become Partners Or Designated Partners In Limited Liability Partnerships

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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")...
India Corporate/Commercial Law

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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