Law relating to the Limited Liability Partnership in India

Section 3 of the Limited Liability Partnership Act, 2008 says that a limited liability partnership is a body corporate formed and incorporated under the said Act and is a legal entity separate from that of the partners. Section 14 of the said Act provides that on registration, a limited liability partnership shall, by its name, be capable of suing and being sued.

Under the provisions of the L.L.P. Act, once a partnership firm or a company converts into a limited liability partnership then on and from the date of registration specified in the registration of certificate, all tangible (movable or immovable) and intangible property vested in the firm or the company and all assets, interests, rights, privileges. liabilities, obligations relating to the firm or the company and also the whole of the undertaking of the firm or the company shall be transferred to and shall vest in the limited liability partnership without any further assurance act or deed. Such provisions have been specifically provided in Section 58(4)(b) of the L.L.P. Act and paragraph 7 (b) of the Second Schedule. Thus, the transactions already concluded or midway of the partnership firm prior to its conversion into the limited liability partnership would stand transferred to limited liability partnership from the date of the registration. It is only the limited liability partnership which is competent to carry on the concluded transactions or complete the unfinished transactions of the firm after the conversion on and from the date of registration of the limited liability partnership.

The Limited Liability Partnership Act, 2008

RULES
Year Description
2018 pdfLimited Liability Partnership (Amendment) Rules, 2018 (1.06 MB)
2017 pdfLimited Liability Partnership (Amendment) Rules, 2017  (1271 KB)
2016 pdfLLP(Second Amendment) Rules, 2016(G.S.R.593(E) dated 10th June, 2016) (1 MB)
2016 pdfLLP(Amendment) Rules, 2016(GSR 418(E) dated 13th April, 2016) (1 MB)
2012 pdfCorrigendum to LLP amendment rules, 2012 (GSR 430(E) dated 5th June 2012): G.S.R 485(E) (220 KB)
2012 pdfLimited Liability Partnership (Winding up and Dissolution) Rules, 2012: G.S.R. 550(E) (8 MB)
CIRCULARS
Reference No Date Description
Pdf format General Circular No. 07/2016 (204 KB) 31.05.2016 Relaxation of additional fees and extension of time and filing of e-Forms by the Companies under Companies Act, 2013 and for filing of Annual Return (Form 11) by the LLPs under the Limited Liability Partnership Act, 2008
Pdf format General Circular No. 37/2014 (182 KB) 14.10.2014 Clarification with regard to Trust/trustee as a partner in the Limited Liability Partnerships (LLPS).
Pdf format General Circular No. 02/2014 (33 KB) 11.02.2014 Use of word ‘National’ in the names of Companies or Limited Liability Partnerships (LLPs)
Pdf format General Circular No. 13/2013 (466 KB) 29.07.2013 Whether Hindu Undivided Familv (HUF) / its Karta can become partner Designated Partner (DPl in Limited Liabilitv Partnership (LLP).
Pdf format General Circular No. 9/2013 (924 KB) 30.04.2013 Conversin of firm into a Limited Liability Partnership – Clarification
Pdf format General Circular No. 15/2012 (232 KB) 29.06.2012 Extension of time in Filing of annual return by Limited Liability Partnerships(LLPs)
NOTIFICATIONS
Reference No Date Description
Pdf format G.S.R. 786(E) (876 KB) 15.10.2015 Limited Liability Partnership (Amendment) Rules 2015
Pdf format G.S.R.333(E) (200 KB) 29.04.2015 Applicability of Section 458 of Companies Act, 2013 to LLP
Pdf format G.S.R.692(E) (103 KB) 14.09.2012 Limited Liability Partnership(Second Amendmentment)Rules,2012
Pdf format G.S.R. 550 (E) (8 MB) 10.07.2012 Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
Pdf format G.S.R.549(E) (305 KB) 10.07.2012 Amendments to SO 891 (E) dated 31st Mar 2009
Pdf format G.S.R. 485 (E) (18 KB) 21.06.2012 Corrigendum to LLP notification dated 05.06.2012