CONCERNS RELATED TO LLP

CONCERNS RELATED TO LLP

  •  LLP is restricted to raising funds from the general public whether it can be to issuing securities or debt.
  •  In case of any minor changes in the LLP, the business alters the LLP agreement and it shall be amended accordingly and the same needs to be filed with ROC.
  •  LLP cannot take any Individual decision It needs to seek confirmation or approval for the same from the other partner as well.
  •  As LLP does not hold the concept of Share Capital, It is not allowed to raise any sort of funds from Angel Investors or Venture capitalists.
  •  LLP is incorporated under the LLP Act 2008, wherein it is liable for the mandatory compliances to be taken care of, In case it fails to file the same within the prescribed / due dates it will be liable for the penalties accordingly.
  •  LLP is limited or valid until the period specified in the LLP Agreement or till the period when the partners mutually agree to wind up on the consent of every partner.
  •  The partners are designated partners are limited to the extent of the amount of capital invested or agreed to be invested as specified in the LLP Agreement.

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