Appointment of nominee as designated partner in LLP

[Jaya Singh]

Dear All,

Please advise;

 Formation of LLP with one individual Partner and one body corporate (LLP). Individual Partner will also be appointed as designated Partner. Now, Whether body corporate mandatorily needs to appoint two nominees as designated partner or only nominee will be enough?

The Act says; 

In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.

Thanks & Regards,

Jaya Vinay Singh

Practising Company Secretary

[Jaya Singh]

Thanks & Regards,

Jaya Vinay Singh

Practising Company Secretary

[Ashutosh Shukla]

Hi, 

Going by the text you have provided, only one nominee shall be enough on the part of the body corporate, as the other individual partner, as you have said, shall be appointed as the first (or second) designated partner. The requirement to have two designated partners shall stand fulfilled in the following manner: the 1st DP - the individual partner, and the 2nd DP - the nominee appointed by the body corporate. 

Thanks and Regards.

CS Ashutosh Shukla

[Jaya Singh]

But the Act says,

at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.

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[Ashutosh Shukla]

Ma'am, 

That proviso to section 7(1) of the LLP Act 2008 basically provides how the designated partners shall be appointed if the LLP has body corporate(s) as its partner(s). It simply says that in order to appoint two designated partners, you can either choose the individual partners or the nominees appointed by the body corporate. It doesn't mandate the appointment of two nominees by the body corporates. Other members may share their opinion as well.

Thanks and Regards 

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