Examples of LLP Act in a sentence
NoEligibility CriteriaDocuments Required1The Bidder should be a Sole Proprietorship firm or a company registered in India under the Companies Act, 1956 / 2013 /LLP Act 2008/Indian Partnership Act 1932, as amended from time to time, and should be in operation for at least the last 3 years as on the date of bid submission.For Sole Proprietorship firm, following documents are required.a. Copy PANb. Proof of address and contact details For other, following documents are required:a.
However, registered society, trust, LLP, the company and firm applicants may change their name as allowed to them as per the provisions of the Companies Act, Society, Trust, LLP Act and Partnership Act.
The Bidder/Bidding Firm shall necessarily be a legally valid entity in the form of a Limited Company or a Private Limited Company registered under the Companies Act, 1956 or Limited Liability Partnership Firm/partnership firm under LLP Act, 2008 or Indian Partnership Act, 1932/ Society Registration Act 1961/ Cooperative Societies Act 2008/The Indian Trusts (Amendment) Act, 2016.
Arbitration determines that there is no material breach or default There shall be no further effect on rights and obligations of the partners but the other partners or any of the partners shall have right to request the dissolution of the LLP under provisions of the LLP Act, 2008.
However, if the partners agree to accept contribution in a form other than money, the amount attributable to it shall be valued by an approved valuer, as provided under the LLP Act, 2008 or rules made thereunder.
The designated partners shall be nominated, elected and appointed by the partners from time to time as they may deem fit and proper in accordance with the provisions of the LLP Act, 2008 and Rules made there under.
Chapter II provides the Committee’s recommendation for an amendment in the LLP Act, 2008.
Since Stamp Duty is the subject reserved for the States, the LLP Act does not contain any provision for treatment of stamp duty issues.
Who can be appointed as designated partner of LLP No person shall be appointed as designated partner unless he/she: Is a partner in the LLP, or in case the partner is body corporate, is an authorised nominee of such partner body corporate; Is an individual; Is holding a valid DPIN/DIN; Has furnished his/her consent to act as designated partner, in the manner and form prescribed under the LLP Act and the rules made thereunder; Fulfils such other requirements as may be prescribed by the LLP Act, 2008.
The liability of the Partners shall be limited as provided in the LLP Act and set forth in this agreement.