of LLP is Rs. 500/- and 1500/- and Maximum Maximum fee Statutory Fee for is Rs. 5000/- incorporation of LLP is Rs. 7000/- (approx.) 19 Legal LLP can also Only Proceeding sue and be registered sued partnership can sue. 10 Name Suffix or No such ‘LLP’ Limited requirement. Liability Partnership has to be added to the name. 11 Change of The name of The name of name the LLP can be the changed with Partnership the prior firm can be approval of changed Central Government. 12 Liability Liability of Liability of partners is partners is limited upto unlimited their capital contribution 13 Agency Partners are Partners are Relationship agents of LLP agents of the firm and each other 14 Contracts / A partner can A partner can Business enter into not enter into transaction by contract with contract with Member/ the LLP the firm Directors/ Partners 15 Power of The power of All the Member\ partners/ partners have Partner\ designated say in the day Director partners to to day conduct the management day to day of the firm or affairs is as specified in specified by the
of LLP is Rs. 1500/- and Maximum fee for incorporation of LLP is Rs. 7000/- (approx.) 500/- and Maximum Statutory Fee is Rs. 5000/- 19 Legal Proceeding LLP can also sue and be sued Only registered partnership can sue. 10 Name Suffix ‘LLP’ or Limited Liability Partnership has to be added to the name. No such requirement. 11 Change of name The name of the LLP can be changed with the prior approval of Central Government. The name of the Partnership firm can be changed 12 Liability Liability of partners is limited upto their capital contribution Liability of partners is unlimited 13 Agency Relationship Partners are agents of LLP Partners are agents of the firm and each other 14 Contracts / Business transaction by Member/ Directors/ Partners A partner can enter into contract with the LLP A partner can not enter into contract with the firm 15 Power of Member\ Partner\ Director The power of partners/ designated partners to conduct the day to day affairs is specified by All the partners have say in the day to day management of the firm or as specified in the
THE%20LIMITED%20LIABILITY%20PARTNERSHIP.docx