Ministry of Corporate Affairs practically suspended right to be a Designated Partners (DP) for young promoters who want to promote a start-up limited liability partnership. Now, no outsider of corporate India may enter into dream life of corporate India through limited liability partnership route. He needs to promote a company to fulfil his dream.
Tag Archives: Limited Liability Partnership
Part – II of the Chapter XXI deals with winding up of unregistered companies.
UNREGISTERED COMPANY (EXPLANATION TO SECTION 375):
(a) shall not include— (i) a railway company incorporated under any Act of Parliament or other Indian law or any Act of Parliament of the United Kingdom; (ii) a company registered under this Act; or (iii) a company registered under any previous companies law and not being a company the registered office whereof was in Burma, Aden, Pakistan immediately before the separation of that country from India; and
(b) save as aforesaid, shall include any partnership firm, limited liability partnership or society or co-operative society, association or company consisting of more than seven members at the time when the petition for winding up the partnership firm, limited liability partnership or society or co-operative society, association or company, as the case may be, is presented before the Tribunal.
Part – I of Chapter XXI deals with companies authorizes to register under this Companies Act, 2013.
COMPANIES CAPABLE OF BEING REGISTERED (SECTION 366):
For the purpose of this Part the “company” includes any partnership firm, limited liability partnership, cooperative society, society or any other business entity formed under any other law for the time being in force which applied for registration under this Part.
The minister of corporate affairs Mr. Veerappa Moily on 12th December 2011 moved 3 bills namely; the Chartered Accountants (Amendment) Bill, 2010, the Cost and Works Accountants (Amendment) Bill, 2010 and the Company Secretaries (Amendment) Bill, 2010
These bills were to amend sub-section (2) of Section 2 of three Acts namely the Chartered Accountant Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980.