Law and Procedure of Limited Liability Partnership

As Amended up to LLP (Amendment) Act, 2021, w.e.f. 1-4-2022 & LLP (Second Amendment) Rules, 2022,
w.e.f. 4-3-2022
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with Special Chapters on
•  Incorporation of LLP
•  Conversion of Firm/Company into LLP
•  Foreign Investment in LLP
•  Taxation of LLP
•  Detailed FAQs on V3 version of MCA on LLP
It gives u immense pleasure in bringing out the Ninth Edition of the book on Limited Liability Partnership Act, 2008 under the title "Law & Procedure of Limited Liability Partnership". This book is based on the practical experience of the author gained during the last 27 years of career as a company Secretary. The book is a comprehensive and clear introductory guide to the principles and practice of laws relating to the limited liability partnership. In the initial years, the growth of LLPs was extremely slow., however, now it has significant numbers of LLPs in India. Looking into the provisions of the Companies Act, 2013, it is considered very difficult by the small private limited companies to comply with the same, specifically provisions relating to deposits and loans to directors, related party transactions, etc. As a result, the existing private limited companies are converting  into LLP for smooth and cost effective compliances under the LLP Act, 2008. This form of organisation provides flexibility in the running of business activities for all the segments including service sectors and professionals as there is no restriction on the number of maximum, loans to the partners and their associate concerns, charging of interest, registration of charge, etc. together with the basic characteristics like, separate legal entity with limited liability and perpetual succession. The LLP model provides smoothness in legal compliances in the present scenario.
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Contents
Chapter 1     Introduction to Limited Liability Partnership
Chapter 2     Partners and Designated Partners
Chapter 3     Name of Limited Liability Partnership
Chapter 4     Registered Office of LLP
Chapter 5     Partners Inter se Relations and Limited Liability Partnership Agreement
Chapter 6     Business of LLP
Chapter 7     Capital Contribution by Partners to LLP
Chapter 8     Incorporation of a Limited Liability Partnership
Chapter 9     Statement of Accounts, Solvency and the Auditors of Limited Liability Partnership
Chapter 10   Annual Return and Maintenance of Statutory Record
Chapter 11   Investigation
Chapter 12   Conversion of Organisations into Limited Liability Partnership and Conversion of LLP
                       into a Company under the Companies Act, 2013
Chapter 13   Foreign Limited Liability Partnerships
Chapter 14   Compromise, Arrangement or Reconstruction of Limited Liability Partnership
Chapter 15    Winding up and Dissolution
Chapter 16   Filing to Forms, Payment of Fee and Prosecution.
Chapter 17   Defunct Limited Liability Partnership and Restoration
Chapter 18    Foreign Investment in Limited Liability Partnerships
Chapter 19   Frequently Asked Questions on Limited Liability Partnership
Chapter 20   Taxation of LLPs
Appendix 1   Specimen LLP Agreement for New LLP
Appendix 2   Specimen for LLP Agreement upon conversion of existing Private
                        Limited Company into LLP
Appendix 3   Comparison between Partnership, Limited Liability Partnership & Companies
Appendix 4   Limited Liability Partnership Act, 2008
Appendix 5   Limited Liability Partnership Rules, 2009
Appendix 6   Concept Limited Liability Partnership (Winding up and Dissolution) Rules
Appendix 7   Text of the Partnership Act. 1932
Appendix 7   The Limited Liability Partnership (Amendment) Act, 2021
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Author Details
Dr. D.K. JAIN, M.Com, PCS, ACIS (UK), Ph.D. is a Practicing Company Secretary, engaged in the practicing field of Company Law, SEBI and Stock Exchange compliances. He has more than 26 years of practical experience in corporate laws and has been in the profession of Company Secretary for over 15 years. Dr. Jain is having international professional qualification of Chartered Secretary from the Institute of Chartered Secretaries and Administrators (UK) and is a Fellow Member of the Institute of Company Secretaries of India. He has completed research work on Generally Accepted Accounting Principles and its effect on final accounts (a comparative study of GAAP of India, UK and USA) and is also a Member of the Indian Council of Arbitration and an Associate Member of the All India Management Association, Dr. Jain is the founder Chairman of the Institute of Corporate Directors of India, the organization is working for corporate governance. Dr. Jain has authored several books for professionals on various topics of Company Law including Company law in four volumes and Company Law Ready Reckoner. He is having keen interest in academics and is a regular contributor of articles on various corporate matters in newspapers and professional journals and also the member of the Research and Publication Committee and member of the Editorial Board of monthly bulletin 'Focus' published by the Western India Regional Council of the Institute of Company Secretaries of India.
Mr. Ishan Jain, a young and dynamic professional of just 21 years, is a licentiate member of ICSI and pursing C. A. (Final). He has completed his articleship of CA for a period of 3 years with a leading CA Firm. He has also co-authored the book Guide to Private Limited Company. He is having good experience in the field of Audit, Taxation and Legal Compliances relating to Registrar of Companies while working during his articleship period.
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