Partnership Act/LLP

The structure of Limited Liability Partnership (LLP) was introduced in India over a decade ago as an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The advantages of this business model are:

In most instances commercial ventures are started amongst friends and associates in an adhoc manner and invariably as a Partnership firm. As the business grows the
Partnership firm is unable to cope and then there is a necessity for a corporate entity to

In terms of the Indian Partnership Act, 1932, (Act), the only criterion to commence business as a partnership is the finalization and execution of a Partnership Deed between the Partners. The Act does not require the

LLP is a new corporate form that enables professional expertise and entrepreneurial initiative to combine, organize and operate in an innovative and efficient manner. It is
becoming popular day by day. When it was introduced in 2009 there were so many

Commercial ventures are established invariably as a partnership firm, incorporated entities, unincorporated business ventures or as proprietorship firm. A new concept
which is a hybrid between a partnership firm and a company incorporated under the

Of late we have witnessed emergence of a new form of business entity named Limited Liability Partnership which is a hybrid of a company and a partnership firm and is
governed by Limited Liability Partnership Act, 2008 (Act). Whereas all the procedures for

This article focuses on the conversion of a LLP to a Company in the context of the changes brought to the Companies Act 2013 (CA2013) read with the
Companies (Authorised to Register) Rules, 2018 vide Companies (Amendment) Act of 2017 (CA2017).