Maximum Limit of Designated Partners in LLP

[Rani Modi]

Dear Members,

Please guide what the Maximum Limit for appointment of DP and not Partners in LLP?

Since Section 7 of the LLP act talks only about the Minimum number of DP.

Please share your views on the same with relevant provisions etc.

Regards,

CS Rani Agrawal

[Premnarayan Tripathi]

Dear Friend,

 

There’s no maximum limit on the number of DPs.

 

However, for ease of operation and compliance, it’s advisable to have Minimum DPs (i.e. 2). Otherwise, all DPs have to sign financial statements and other obligations and liabilities.

 

Regards,

 

CS Premnarayan Tripathi

Ahmedabad

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[Rani Modi]

@ Premnarayan : Thank you for addressing my query : any relevant provisions or case laws etc from which we can say to the client that there is no maximum limit?

Regards,

CS Rani Agrawal

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[Rani Modi]

Anyone?

[Premnarayan Tripathi]

Dear Ms. Rani,

 

Sec. 7 of the LLP Act provides every LLP shall have at least 2 DPs. Hence, it’s implied that there is no cap on the number of DPs. Even all Partners of an LLP may be designated as DPs.

 

In law, as per the Principles of Interpretation, if something is not prohibited, it’s permitted.

 

Thanks

 

CS Premnarayan Tripathi

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[Ashish Gupta]

pls go thru LLP Act and rules

am sure, will find there itself

thanks

 
AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

09312210264

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[Rani Modi]

Thank you Premnarayan and Ashish Sir for the clarity.

I was of the same view, but wanted a second opinion so asked a query here.

Regards,

CS Rani Agrawal

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[Ashish Gupta]

@CS Rani Agrawal,

pleasure is mine

if you found the relevant details, do try to share here in group but benefit of all members/ participants

thanks

 

AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

09312210264

# Stay Safe #Stay Healthy

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Switch off as you go |Recycle always |  Your child deserves better world
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[Rani Modi]

Sure Ashish Sir,

As of now nothing relevant got.

Regards,

CS Rani Agrawal

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