LLP designated partner disqualification

[pallavi g]

Hello,

Seek clarification on disqualification of designated partner of LLP to continue as a designated partner in the LLP

Would non-filing of Form 8 and Form 11 for continuous 3 years mean that the designated partners are automatically disqualified from continuing as designated partners in the LLP?

Does the non-compliance/violation get rectified if the forms are filed now with late/additional fees?

Thanks

Pallavi

[Siddharth Ahuja]

The short answer is no, there is no "automatic" disqualification for Designated Partners (DPs) under the LLP Act for failing to file Form 8 and Form 11, but the situation is a bit of a legal "red zone" because of how LLP laws interact with the Companies Act.

Thanks & Regards

Siddharth Ahuja

#9643000607

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[pallavi g]

If a newly appointed Designated partner rectifies the non-compliance and files the pending forms does this mean that the disqualified designated partner's default is extinguished and the 5 year restriction on continuing as a DP in the LLP or any other LLP would not apply anymore?