formation of limited liability partnership5

7/27/2019 Formation of Limited Liability Partnership5

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STEPSFOR INCORPORATION OFLIMITED LIABILITY

PARTNERSHIP


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1

INDEX

BasisofdecidingthenameoftheLLP _____________________________________________________ 4

DisclosureForm_______________________________________________________________________ 5

FillingandcompletionofFormno.1 ______________________________________________________ 6

ApprovalofnamebyRegistrarofFirm(ROF) _______________________________________________ 7

FinalizationofLLPAgreement ___________________________________________________________ 8

Filingof

Forms

with

Registrar

of

Firm _____________________________________________________ 9

PaymentoffeestoRegistrarofFirm _____________________________________________________ 10

ApprovalbytheRegistrarofFirm ________________________________________________________11

DesignatedPartnerIdentificationNumber(DPIN) __________________________________________ 14


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FORMATIONOFLIMITEDLIABILITYPARTNERSHIP(FlowChart)

No

Yes

2

Start

TakeadecisiononnameoftheLLP

FilingofFormNo.1with

Re istrar

FillingandcompletionofFormNo.1

FinalizationofLLPAgreement(Optional)

Isthenameapprovedby

Registrar

ObtainDigitalSignaturesCertificate

ObtainDesignatedPartnerIdentificationNumber(DPIN)


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3

FilingofFormNo.2withtheRegistrar

Paymentofchallan

IssuanceofCertificateofIncorporationofLLPbyRegistrarinFormno16

ObtainapprovalfromREGISTRAR Registration

Feesaccordingtopaidupcapital

End

FilingofFormno4within30daysfromthedateofincorporation.

FilingofLLPAgreementinFormno3(Optional)within30daysfromthe dateof incorporation.


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BasisofdecidingthenameoftheLLP

The name of the limited liability partnership shall not be similar or identical with Company or LLPalreadyregisteredinIndiaanditshouldnotcontainswordsprohibitedundertheEmblemsandNames(Prevention of improper use) Act, 1950or which are also not Undesirable in the opinion of CentralGovernmentorwhichsatisfiestheconditionsprescribedunderrule18(2).

IncaseanyBodyCorporate ispartner,copyofBoardresolutionauthorizingthe incorporationofLLPshallbeattached

ADisclosure

Form

needs

to

be

filled

at

this

stage.

Sample

format

attached

below.

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4

BASISOFDECIDINGTHENAMEOFTHELLP

Shouldreflecttheactivity/objectiveoftheLLP

Maximumof6namesinorderofpreference


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DisclosureForm

DisclosureForm forincorporationofLLP

1. ProposedNameoftheLLP:(MaximumSixNameinorderofPreference)1. 2.

3.

4.5. 6.

2. NameoftheApplicantappliedforNameavailabilityName of the Applicant (musthavedigitalsignature)

Occupation Address State Country Pincode

3. Detailsofpartners:NameofthePartner Husband / Fathers

Name

Capital

contribution

Date of Birth/

incorporation

4. RegisteredaddressoftheLLP:

5. DetailofDesignatedPartners:Name oftheDesignatedPartner

FathersName

DPINNumber

Nationality Date ofBirth

PANNumber

Address

6. CapitalContributionofthePartners:%ofCapitalContribution TypeofContribution Amount

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5


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FillingandcompletionofFormno.1

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6

FormNo.1(Variousheads)

Detailsof theapplicantwho has filedtheform.

Name,

Occupation,Address,Emailidetc.

DetailsofatleasttwoDesignatedPartner.

Name,

DPIN

Number,NameoftheNomineeincaseofBodycorporate,DetailofResolution

Detail ofProposedBusiness oftheFirm

State thesignificanceof the namechosen.

MonetaryContribution

Name of theState andRegistrar whereRegisteredOfficeof the LLP is tobesituated.


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ApprovalofnamebyRegistrarofFirm(ROF)

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7

ApprovalofnamebyROF

Nameappliedforisavailableforadoption

TheregistrarwillapprovethenameappliedforprovidedthenameisnoteitherundesirableintheopinionoftheCentralGovernmentorthatisidenticalwithorthatwhichtoonearlyresemblestothenameof any existing partnership firm or a LLP or a body corporate or a

trade

mark

registered

or

pending

registration

under

the

Trade

MarksAct,1999.

The name approved shall be available foradoptionforaperiodof3months.


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FinalizationofLLPAgreement

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8

LLPAGREEMENT

NAMECLAUSE ItcontainsthenameoftheLLP

REGISTERED

OFFICECLAUSESpecifies

the

state

where

RO

of

the

LLPissituated

BUSINESSOPERATION

ADMISSIONOFNEWPARTNER

CAPITAL

CLAUSE

DUTIESOFPARTNERS

ThetotalamountofContribution withwhich

theLLP

is

registered

This clause specifies the duties of Partner ordesignatedpartnerbeforetheLLP

It contains the Principal Businessobjective of the LLP. Profit/Losssharingrationofpartners.

It will contains the provision of newpartner,hisprofit/Losssharingratio.

RIGHTSOFPARTNER

It will contain the rights of partners, righttoaccess the books of account, right to carryown their business independently, right overtheassetsoftheFirm,

CESSATIONOFPARTNERS

This clause specifies that the partner maycease by giving 30 days prior notice to theotherpartneretc.

EXTENTOFLIABILITYOF

PARTERS

This clause specifies the extent ofliability of partners of LLP. They areliableuptotheamountofcontributiontheyundertaketocontribute.


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FilingofFormswithRegistrarofFirm

IncorporationdocumentsItwillcontainthefollowinginformation

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9

FillingofFormNo.2

Once the name isapproved by Registrar

ofFirm

Service

RequestNumber ofFormno1

Principal

Businessofthefirm

Nameof

the

LimitedLiabilityPartnershipasapprovedbytheROF

Address

of

theRegisteredOffice

Details

of

Partners /DesignatedPartners

Formof

Contributionandtotalmonetarycontribution

IncasethePartner/Designatedpartnerisacompany,detailofthenominee

IncasethePartner isaIndividual

In case the partner is acom an

NameoftheCompany,Nameof the Body Corporate, Date

ofBirth,

address,

designation

and authority, DPIN of

Name, Address, DPIN, PANNumber, Fathers Name,

Occupation,

Date

of

Birth,Nationality


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PaymentoffeestoRegistrarofFirm

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10

PaymentofChallan

ThroughCreditCard ByCash Bycheque/DemandDraft


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ApprovalbytheRegistrarofFirm

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11

Approvalbythe

Registrarof

Firm

On Submission of completedocuments the Registrar aftersatisfying himself about thecompliance with relevant provisionsofLLPAct

Register the LLP maximum within 14days from the date of Filing of formno2.

Registrar will issue a Certificate ofincorporationinFormno16


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Containsthefollowing:

BacktoflowchartNOTE:

Form3

(Information

with

regard

to

LLP

agreement

and

changes,

if

any

made

therein)

may

be

filed

with

theprescribedfeesimultaneouslyatthetimeoffilingForm2orwithin30daysofthedateofincorporationorwithin30daysofsuchsubsequentchanges.

12

FillingofFormNo.3

LLPIdentificationNumber(LLPIN)

Name andAddress oftheLLP

Place atwhichtheLLPagreement ismade

Date of LLPagreement

Business tobecarriedoutbytheLLP

Nameand

DPIN

of

the

designated Partners,theirareasofwork.

Obligationof

each

partner

to contribute money orproperty or other benefitortoperformservices.

Partners

Power

andduties

Restrictions,if any, on the

partners

authority

Managementand

Administration

ofLLP

Details of obligations,rights, entitlements of a

partner

on

admission,retirement, cessation,expulsionorresignation

DetailsofLLPAgreements

Clauses

It also needs to be filed for anysubsequent changes made in the LLP


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Containsthefollowing:

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13

Filling of FormNo.4

SRN ofForm1orLLPIN

Name andAddress oftheLLP

Summary ofPartners andDesignatedPartners.

NumberofIndividualaspartners,incasemorethan5,fileasanattachment

Number ofbodiescorporate aspartners, in casemore than 5, fileasanattachment

Name,Father

Name

of

thePartners.Date

of

Birth

and

occupation,Nationality ofpartners

Present

and

permanentAddress


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DesignatedPartnerIdentificationNumber(DPIN)

Contain

the

following

information

AdditionalInformation

14

DPIN

DPIN is an Eight digit Number allotted by the CentralGovernment which denotes the identity of the particularpartner.

FillingofFormNo.7

In case of Applicant is anomineeofBodyCorporate

Full name oftheApplicant

Father/Husbandname

Present andpermanentAddress

Nationalityand DateofBirth

Name ofthe BodyCorporate

CINNumber

RegisteredOffice of theCompany

Proof ofAddress

Proof ofIdentity

PassportElectioncardDrivingLicensePanCard

PassportElectioncardDrivingLicensePanCardRationCardElectricityBillTelephoneBillBank Account

Statement

PaythePrescribefeei.e.Rs.100/


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Backto

Flowchart

15

SubmittheApplicationonline.Thesystem will further generate aprovisionalDPIN

Take Print out of the form, affix a latestpassportsizephotographandgetitattestedalongwithproofofidentityandresidence.

Delivered the printed and signed application form along with theprescribeddocumentsbyhand/courier/registeredposttotheofficeofREGISTRAR, MINISTRY OF CORPORATE AFFAIRS, 3RD FLOOR,PARYAVARAN BHAWAN, CGO COMPLEX, LODHI ROARD, NEW DELHI

110003

TheRegistrarwillfurtherapprovetheformandyoucantrackthestatusonthewebsite.

formation of limited liability partnership5

Documents