Limited Liability Partnerships (Law and Practice)

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Description
An LLP contains features of two long-standing forms of business structure, namely the 'company'and the 'partnership firm'. An LLP, thus, is a hybrid of a company and a partnership. To explore this business structure, every professional and businessman would need to know, in a simple way, the advantages, nuances and complexities involved. The unique format and structure of the book makes it very handy for those looking to get relevant information about any provision of the LLP Act, with the least effort. The FAQs at the end of the chapters, arranged in a tabular and easy to read format, are very helpful for the busy professionals to quickly find information on the key topics. This book explains the various features of the LLPs and addresses several issues concerning the construction of the LLP Act. Key Features • Comprehensive Section-wise commentary on the LLP Act, as amended by the LLP (Amendment) Act, 2021, w.e.f. 1-4-2022 read with LLP (2nd Amendment) Rules, 2022
• Applicability of the Companies Act, 2013 on LLPs
• Implication of Insolvency and Bankruptcy Code, 2016 on the winding-up of LLPs Compromise,
   arrangement, reconstruction or amalgamation of LLPs
• Comparison of LLP with Partnership Firm and Company
• FDI into LLPS
• Taxation of LLPs
• LLPs by and amongst professionals, viz., CSs, CA, CMAs and Advocates
• Practical issues and procedures alongwith FAQs
• Ready Reckoner on Penal Provisions under the LLP Act
• Latest Notifications, Circulars and Clarifications issued by the MCA, DPIIT and RBI
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Contents
Part I : LLP Act - Section-wise Analysis
Chapters
1.    Preliminary
2.    Nature of Limited Liability Partnership
3.    Incorporation of Limited Liability Partnership and Matters Incidental Thereto
4.    Partners and their Relations
5.    Extent and Limitation of Liability of Limited Liability Partnership and Partners
6.    Contributions
7.    Financial Disclosures
8.    Assignment and Transfer of Partnership Rights
9.    Investigation
10.  Conversion to Limited Liability Partnership
11.  Foreign Limited Liability Partnerships
12A.  Compromise, Arrangement or Reconstruction of Limited Liability Partnership
12B.   Inability to Pay Debts
13.  Winding Up and Dissolution
14.  Miscellaneous
Part II : LLP - Specific Issues
15.  Company Vs. LLP: Apple to Apple Comparison
16.  Partnership Firm versus LLP : A Comparison
17.  Taxation of Limited Liability Partnerships
18.  Limited Liability Partnerships - A Global Comparison
19.  Foreign Direct Investment in Limited Liability Partnerships
20.  Overseas Direct Investment by Limited Liability Partnerships  
21.  Limited Liability Partnerships by and amongst Professionals viz, CAs, CSs, CWAs
PART III - LLP Procedures and Practical Issues
22.   Incorporation of a LLP
23.   Model Limited Liability Partnership Agreement
24.   Change in Partners / Particulars of Partners
25.   Change in the Place of Registered Office
26.   Change(s) in the Limited Liability Partnership Agreement
27.   Conversion of a Partnership Firm into Limited Liability Partnership
28.   Conversion of a Private Company into Limited Liability Partnership
29.   Conversion of an unlisted Public Company into Limited Liability Partnership
30.   Registration/Conversion of a Limited Liability Partnership as a 'Company' under the Companies Act, 2013
31.   Limited Liability Partnership - An Eligible Start up Entity
32.   Admission of Limited Liability Partnership as member of Stock Exchange(s)
33.   FAQs on Integration of LLP with MCA 21 System
34.  Ready Reckoner - Penal Provisions Under the LLP Act
35.  LLP Settlement Scheme, 2020
PART IV - Ready Reckoner - Penal provisions under the LLP Act
36.   LLP Amnesty Scheme, 2023
37.   FAQs on Intergration of LLP with MCA 21 System
38.   LLP E - Fillling - Faqs
39.   Frequently Asked Questions - MCA V3

PART V - Act, Rules and Forms
Appendix 1      Limited Liability Partnership Act, 2008
Appendix 2      Limited Liability Partnership (Amendment) Act, 2021
Appendix 3      Limited Liability Partnership Rules, 2009
Appendix 4      Limited Liability Partnership (Winding Up and Dissolution) Rules, 2012
Appendix 5      MCA Notifications and Circulars
Appendix 6      The Limited Liability Partnership (Significant Beneficial Owners)
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Author Details
Mr. Hitender Mehta, FCS, FCA, LLB, is Managing Partner of CENTRUM LEGAL, a corporate legal advisory firm headquartered in Gurugram, India, Advisor to many Indian and multinational companies, his practice areas include corporate laws, Insolvency & Bankruptcy Code, foreign exchange laws, cyber laws, labour and industrial laws, special economic zones, real estate and corporate dispute resolution. He has been advising on legal compliance management, business structuring, giving opinions on complex legal issues and conducting legal due diligence exercises to facilitate business acquisitions, strategic business partnerships, joint ventures, etc.
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