MCA introduces stricter compliance requirements for LLPs : v

Introduction
Limited liability partnerships (LLPs) are partnerships in which the partners have limited liability. Therefore, LLPs exhibit elements of both partnerships and companies.
The Ministry of Corporate Affairs (MCA) introduced the concept of the LLP to help small and medium-sized enterprises in general and enterprises in the service sector in particular. Internationally, LLPs are the preferred vehicle for doing business in the service industry and for activities involving professionals. LLPs in India are governed by the Limited Liability Partnership Act 2008. In recent years, there has been a sharp increase in the registration of LLPs.
Proposed changes
In order to improve LLP compliance and regulate the designated partners of LLPs, the MCA has stated that it will extend certain sections of the Companies Act 2013 to the Limited Liability Partnership Act and therefore LLPs. As such, the following provisions of the Companies Act will soon apply to LLPs:

Related Keywords

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