Title : Application for Winding Up of Limited Liabilitypartnership
State : Central
Year : 2008
If any such limited liability partnership is liable to be wound up under this Act or any other law for the time being in force, and it appears to the Central Government from any such report under section 49 that it is expedient to do so by reason of any such circumstances as are referred to in sub-clause (i) or sub-clause (ii) of clause (c) of sub-section (3) of section 43, the Central Government may, unless the limited liability partnership is already being wound up by the Tribunal, cause to be presented to the Tribunal by any person authorised by the Central Government in this behalf, a petition for the winding up of the limited liability partnership on the ground that it is just and equitable that it should be wound up. View Complete Act List Judgments citing this sectionTitle : Conversion from Unlisted Public Company into Limited Liabilitypartnership
State : Central
Year : 2008
An unlisted public company may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Fourth Schedule. View Complete Act List Judgments citing this sectionTitle : Incorporation of Limited Liability Partnership and Matters Incidental Thereto
State : Central
Year : 2008
(1) For a limited liability partnership to be incorporated,-- (a) two or more persons associated for carrying on a lawful business with a view to profit shall subscribe their names to an incorporation document; (b) the incorporation document shall be filed in such manner and with such fees, as may be prescribed with the Registrar of the State in which the registered office of the limited liability partnership is to be situated; and (c) there shall be filed along with the incorporation document, a statement in the prescribed form, made by either an advocate, or a Company Secretary or a Chartered Accountant or a Cost Accountant, who is engaged in the formation of the limited liability partnership and by any one who subscribed his name to the incorporation document, that all the..... View Complete Act List Judgments citing this sectionTitle : Extent and Limitation of Liability of Limited Liability Partnership Andpartners
State : Central
Year : 2008
Every partner of a limited liability partnership is, for the purpose of the business of the limited liability partnership, the agent of the limited liability partnership, but not of other partners. Section 27 - Extent of liability of limited liability partnership (1) A limited liability partnership is not bound by anything done by a partner in dealing with a person if-- (a) the partner in fact has no authority to act for the limited liability partnership in doing a particular act; and (b) the person knows that he has no authority or does not know or believe him to be a partner of the limited liability partnership. (2) The limited liability partnership is liable if a partner of a limited liability partnership is liable to any person as a result of a wrongful act or omission on..... View Complete Act List Judgments citing this sectionTitle : Compromise, Arrangement or Reconstruction of Limited Liability Partnerships
State : Central
Year : 2008
(1) Where a compromise or arrangement is proposed-- (a) between a limited liability partnership and its creditors; or (b) between a limited liability partnership and its partners, the Tribunal may, on the application of the limited liability partnership or of any creditor or partner of the limited liability partnership, or, in the case of a limited liability partnership which is being wound up, of the liquidator, order a meeting of the creditors or of the partners, as the case may be, to be called, held and conducted in such manner as may be prescribed or as the Tribunal directs. (2) If a majority representing three-fourths in value of the creditors, or partners, as the case may be, at the meeting, agree to any compromise or arrangement, the compromise or arrangement shall, if..... View Complete Act List Judgments citing this sectionTitle : Nature of Limited Liability Partnership
State : Central
Year : 2008
(1) A limited liability partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners. (2) A limited liability partnership shall have perpetual succession. (3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership. Section 4 - Non-applicability of the Indian Partnership Act, 1932 Save as otherwise provided, the provisions of the Indian Partnership Act, 1932(9 of 1932) shall not apply to a limited liability partnership. Section 5 - Partners Any individual or body corporate may be a partner in a limited liability partnership: Provided that an individual shall not be capable of becoming a partner of a limited..... View Complete Act List Judgments citing this sectionTitle : Limited Liability Partnership Act 2008
State : Central
Year : 2008
Preamble1 - LIMITED LIABILITY PARTNERSHIP ACT 2008 Chapter I Section1 - Short title, extend and commencement Section2 - Definitions Chapter II Section3 - Limited Liability Partnership to be body corporate Section4 - Non-applicability of the Indian Partnership Act, 1932 Section5 - Partners Section6 - Minimum number of Partners Section7 - Designated Partners Section8 - Liabilities of designated partners Section9 - Changes in designated partners Section10 - Punishment for contravention of sections 7, 8 and 9 Chapter III Section11 - Incorporation document Section12 - Incorporation by registration Section13 - Registered office of limited liability partnership and change therein Section14 - Effect of registration Section15 - Name Section16 - Reservation of name Section17 -..... List Judgments citing this sectionTitle : Compromise or Arrangement of Limited Liability Partnership
State : Central
Year : 2008
(1) Where a compromise or arrangement is proposed-- (a) between a limited liability partnership and its creditors; or (b) between a limited liability partnership and its partners, the Tribunal may, on the application of the limited liability partnership or of any creditor or partner of the limited liability partnership, or, in the case of a limited liability partnership which is being wound up, of the liquidator, order a meeting of the creditors or of the partners, as the case may be, to be called, held and conducted in such manner as may be prescribed or as the Tribunal directs. (2) If a majority representing three-fourths in value of the creditors, or partners, as the case may be, at the meeting, agree to any compromise or arrangement, the compromise or arrangement shall, if..... View Complete Act List Judgments citing this sectionTitle : Investigation of the Affairs of Limited Liability Partnership
State : Central
Year : 2008
(1) The Central Government shall appoint one or more competent persons as inspectors to investigate the affairs of a limited liability partnership and to report thereon in such manner as it may direct if-- (a) the Tribunal, either suo motu, or on an application received from not less than one-fifth of the total number of partners of limited liability partnership, by order, declares that the affairs of the limited liability partnership ought to be investigated; or (b) any Court, by order, declares that the affairs of a limited liability partnership ought to be investigated. (2) The Central Government may appoint one or more competent persons as inspectors to investigate the affairs of a limited liability partnership and to report on them in such manner as it may direct. (3) The..... View Complete Act List Judgments citing this sectionTitle : Conversion into Limited Liability Partnership
State : Central
Year : 2008
A firm may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Second Schedule. Section 56 - Conversion from private company into limited liability partnership A private company may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Third Schedule. Section 57 - Conversion from unlisted public company into limited liability partnership An unlisted public company may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Fourth Schedule. Section 58 - Registration and effect of conversion (1) The Registrar, on satisfying that a firm, private company or an unlisted public company, as the case may be, has complied with the..... View Complete Act List Judgments citing this section