Procedure to register LLP company in Karur | Company Incorporation

LLP registration in karur is an alternative corporate business form that offers the benefits of limited liability and flexibility of partnership. LLP can continue its presence regardless of changes in partners. It has the ability to enter into contracts and own property in its own name. L LLP is a separate legal entity, liable for the full extent of its assets, but the liability of the partners is limited to the contribution they have agreed to in the LLP. Furthermore, no partner is liable for the independent or non-authoritative actions of the other partners, so individual partners are protected from joint liability created by another partner’s wrong business decisions or misconduct. L The mutual rights and duties of the partners in the LLP are governed by an agreement between the partners or between the partners and the LLP. However, LLP registration in karur as a separate entity is not relieved of liability for its other liabilities.

Documents required for LLP registration in Karur

• PAN and Photo both are required for every director and every shareholder in India
• ID proofs like voter ID, Passport, Aadhar card.
• Address proof like mobile bill, electricity bill, bank statement.
• Registered office address like electricity bill, rent agreement and No objection certificate.

Process of LLP registration in Karur

Step 1- Get a Digital Signature Certificate (DSC)

Obtaining DSC for all the proposed designated partners is the first and foremost step. Members can use the same DSC to file ROC (Registrar of Companies) consent forms, LLP registration in karur and tax returns.

Step 2: Apply for DPIN

The next step is to file an application for the Partner Identification Number (DPIN) designated in e-Form DIR 3.

Step 3: Get the company name approved

This is an important step in the LLP registration process. LLP must have a unique name; otherwise, there are chances of application rejection. So once you get the DSC and DPIN, file the company name for approval. To do so, visit the official MCA portal RUN-LLP to the ROC (Registrar of Companies).

Note: LLP applicant can nominate a maximum of two names by RUN.

Step 4: File Incorporation application in e-form file script

After the ROC (Registrar of Companies) approves the company name, you must file a merger application in the e-Form FiLLiP. The FiLLiP Form contains all the information about the proposed designated partners. Affix all required documents along with the form. The applicant should submit the form to the ROC of the concerned state or region where the registered LLP office is located.

Step 5: File LLP Agreement in Form 3

Finally, file an online LLP agreement on the MCA portal within 30 days from the date of the merger. An LLP agreement is a confidential document that defines the rights and responsibilities of partners. However the value of stamp paper may vary from state to state.

Distinct features of LLP registration in Karur

The main features of LLP are as follows:

• LLP registration in karur is a body corporate and a legal entity separate from its partners, owns assets in its own name, can claim and sue.
• The mutual rights and duties of the partners of the LLP are governed by the parties or by agreement between the LLP and the partners, subject to the provisions of the LLP Act, 2008.
• An LLP is a separate legal entity that is responsible for the full extent of its assets, with the liability of the partners being limited to the cooperation they have agreed to the LLP, which may be explicit and / or incomplete. No partner is liable for the independent or non-authoritative actions of other partners or for their misconduct. The liabilities of the LLP and its partners for the purpose of defrauding creditors or for any fraudulent purpose are unlimited to all or any of the LLP’s debts or other liabilities. Company registration steps in trichy.
• Each LLP must have at least two partners and at least two designated partners, at least one of whom must be a resident of India. The duties and responsibilities of designated partners are provided for by law, i.e. LLP law.
• The LLP registration in karur is responsible for maintaining annual accounts that reflect a true and fair view of the state of its affairs. Each LLP must file a statement of accounts and solvency with the Registrar each year. LLP accounts are also audited and any class of LLPs is exempted by the Central Government.
• It is permissible to convert a company, private company or unlisted public company into an LLP in accordance with the provisions of the Act.
• The Indian Partnership Act, 1932 is not applicable to LLPs.

Following the incorporation of the LLP, a copy of the signed agreement will be filed with the Registrar of Companies within 30 days from the date of the merger through Form 3. However, if you fail to file the same within the stipulated time, then you will be fined Rs.100 per day and there is no maximum limit.

Benefits of LLP registration in karur

• It is convenient
• It was organized
• It works on a contract basis
• Easy to form
• It has a flexible capital structure
• Minimum capital is not required

Points related to the LLP registration in karur

• The LLP registration in karur is limited to issuing securities or raising funds from the general public in respect of debts.
• If there are any minor changes in the LLP, the business will change the LLP agreement and amend it accordingly and the same requirement should be filed with the ROC.
• LLP does not make any personal decision that requires certification or approval from the other partner.
• Since LLP does not have the concept of share capital, it is not allowed to raise any funds from angel investors or venture capitalists.
• The LLP is limited or valid until the time specified in the LLP Agreement or until the partners have mutually agreed on each partner’s consent.
• Partners designated partners are limited to the amount invested or agreed to invest as specified in the LLP agreement.