Limited Liability Partnership (LLP)
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Businesses are typically structured and organised in different forms depending on factors like size, scalability, objectives, area of operations etc. Entrepreneurs and professionals who wish to establish their entities look for business structures that are commercially efficient, flexible and at the same time not very cumbersome on legal and regulatory compliances. One such corporate structure that is suited to such a business environment is Limited Liability Partnership. The topics covered in this course include nature and characteristics of LLP, procedure for incorporation, LLP Agreement, legal compliance for LLP, designated partners, appointment of partners, their rights and duties and cessation of LLP. The course is updated with the latest amendments to the LLP Act, brought about in 2021.
Judicial decision on one contract can rarely help us to the understanding of another.
Lord O'Hagan- I. Flashcards
- a) Flashcards
- 1. Introduction
- 1.1 Introduction
- 1.2 History of LLP
- 2. Nature and characteristics of LLP
- I. Relevant sections
- 2.1 Nature and characteristics of LLP
- 2.2 Designated partners and partners
- 2.3 Advantages and disadvantages of LLP
- 2.4 Distinction between LLP and other forms of entities
- II. Exercises
- III. Examination pointers
- 3. Incorporation of LLP
- I. Relevant sections
- 3.1 Incorporation of LLP
- 3.2 Foreign LLP
- II. Exercises
- 4. LLP Agreement
- I. Relevant sections
- 4.1 LLP Agreement
- II. Exercises
- III. Examination pointers
- 5. Partners and their relations
- I. Relevant sections
- 5.1 Partners and their relations
- II. Exercises
- III. Examination pointers
- 6. Contributions
- I. Relevant sections
- 6.1 Contributions
- II. Exercises
- 7. Financial disclosures
- I. Relevant sections
- 7.1 Financial disclosures
- II. Exercises
- 8. Investigation of LLP
- I. Relevant sections
- 8.1 Investigation of LLP
- II. Exercises
- 9. Conversion of partnership and company into LLP and vice versa
- I. Relevant sections
- 9.1 Conversion of partnership in LLP
- 9.2 Conversion of company to LLP
- II. Exercises
- III. Examination pointers
- 10. Restructuring of LLP
- I. Relevant sections
- 10.1 Restructuring of LLP
- 10.2 Facilitation of reconstruction or amalgamation of LLP
- II. Exercises
- III. Examination pointers
- 11. Winding up and dissolution of LLP
- I. Relevant sections
- 11.1 Removal of name from register of LLP
- 11.2 Voluntary winding up
- 11.3 Winding up by Tribunal
- II. Exercises
- 12. Important amendments to the LLP Act
- 12.1 Important amendments to the LLP Act
WHY TAKE THIS COURSE?
Through this module, we aim to bring you a comprehensive understanding on the subject of LLP with video lectures combined with flashcards, assignments, examination pointers, relevant provisions and forms. This course on LLP is designed to help students, lawyers, entrepreneurs and other professionals who intend to set up LLP as a business vehicle.
Instructors
Dr Pratima Narayan
Dr Pratima Narayan is an Advocate, mediator and Founder Partner of Techlawlogi Consulting LLP, a law firm based out of Bengaluru. She is an Editor and Consultant at EBC Learning. She has offered courses on Consumer Law, Arbitration, Ecommerce, Contract Law and Corporate Law on the platform. She has authored a book on “Electronic Commerce: Legal Compliance”, published by EBC. The book comprehensively outlines the various legal and regulatory framework and compliance for ecommerce players. Dr Pratima has served the legal academia for over two decades as a visiting faculty at various reputed law schools and business schools. Dr Pratima holds a doctorate in law from the National Law School of India University, Bengaluru.
Presented by: Dr Charu Mathur
Dr Charu Mathur has a rich and diverse expertise in corporate, commercial, civil, criminal and constitutional law matters. She is an Advocate on Record, Supreme Court of India. She has represented parties which include cricketing bodies and educational institutions like IIT Jodhpur, NLU Jodhpur, BPUT Orissa, MPUAT Rajasthan, private engineering and medicine colleges of Gujarat and Orissa.
A contract requires two parties to it, and a man in one character can, with difficulty, contract with himself in another character.
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