{"id":307246,"date":"2023-11-15T18:00:21","date_gmt":"2023-11-15T12:30:21","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=307246"},"modified":"2023-11-15T17:44:06","modified_gmt":"2023-11-15T12:14:06","slug":"government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/","title":{"rendered":"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs"},"content":{"rendered":"
\n

On 9-11-2023, the Ministry of Corporate Affairs notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023<\/span> mandating every Limited Liability Partnership (‘LLP’) to find out if any of the individuals is a significant beneficial owner in relation to reporting LLP and on identification, such individual has to make a declaration. The provisions came into force on 9-11-2023.<\/p>\n

Key Points:<\/p>\n

    \n
  1. \n

    The definition of Significant Beneficial Owner<\/span> (‘SBO’) has been laid down as follows:<\/p>\n

    “a reporting limited liability partnership, means an individual who acting alone or together or through one or more persons or trust, possesses one or more of the following rights or entitlements in such reporting limited liability partnership, namely:-<\/p>\n

    (i) holds indirectly or together with any direct holdings, not less than ten per cent of the contribution;<\/p>\n

    (ii) holds indirectly or together with any direct holdings, not less than ten percent of voting rights in respect of the management or policy decisions in such limited liability partnership;<\/p>\n

    (iii) has right to receive or participate in not less than ten per cent of the total distributable profits, or any other distribution, in a financial year through indirect holdings alone or together with any direct holdings;<\/p>\n

    (iv) has right to exercise or actually exercises, significant influence or control, in any manner other than through direct-holdings alone”.<\/p>\n<\/li>\n

  2. \n

    Duties of reporting LLP:<\/p>\n

      \n
    • \n

      To find out if there is any individual who is an SBO, in relation to that reporting limited liability partnership, and if so, identify him and cause such individual to make a declaration in Form No. LLP BEN-1.<\/p>\n<\/li>\n

    • \n

      In case where it is partner instead of an individual and holds not less than 10% of its contributions\/ voting rights\/ right to receive or participate in the distributable profits or any other distribution payable, the reporting LLP will have to give notice to such partner in Form LLP BEN-4.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

    • \n

      Declaration of SBO:<\/p>\n

        \n
      • \n

        Declaration to be made in Form No. LLP BEN-1 to reporting LLP within 90 days from commencement on these rules.<\/p>\n<\/li>\n

      • \n

        An individual who subsequently becomes a SBO or his SBO undergoes any change then declaration has to be made within 30 days of acquiring such SBO or any change.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

      • \n

        Return of SBO in contribution:<\/span> after receiving the declaration, the reporting LLP will have to file a return in Form No. LLP BEN-2 with the Registrar within 30 days from the receipt of such declaration.<\/p>\n<\/li>\n

      • \n

        Register of SBO:<\/p>\n

          \n
        • \n

          To be maintained by LLP of SBO in Form No. LLP BEN-3;<\/p>\n<\/li>\n

        • \n

          The Register should be open for inspection-<\/p>\n

            \n
          • \n

            During business hours;<\/p>\n<\/li>\n

          • \n

            For not less than 2 hours;<\/p>\n<\/li>\n

          • \n

            With a fee not exceeding Rs. 50 for each inspection<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n

          • \n

            Notice seeking information about SBO<\/span> to be made in the Form No. LLP BEN-4.<\/p>\n<\/li>\n

          • \n

            Application to the Tribunal:<\/span> can be made in following cases:<\/p>\n

              \n
            • \n

              where any person fails to give the information required by the notice in Form No. LLP BEN-4<\/p>\n<\/li>\n

            • \n

              where the information given is not satisfactory<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

            • \n

              Non- applicability:<\/span> LLP held by<\/p>\n

                \n
              • \n

                Central government\/ State Government\/ Local Authority;<\/p>\n<\/li>\n

              • \n

                Reporting LLP\/ body corporate\/ entity controlled by Central or State Governments;<\/p>\n<\/li>\n

              • \n

                An investment vehicle registered and regulated by the Securities and Exchange Board of India;<\/p>\n<\/li>\n

              • \n

                an investment vehicle regulated by the Reserve Bank of India, or the Insurance Regulatory and Development Authority of India, or the Pension Fund Regulatory and Development Authority.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

                On 9-11-2023, the Ministry of Corporate Affairs notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 mandating every Limited Liability Partnership <\/p>\n","protected":false},"author":67515,"featured_media":293777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[8651,48783,2560,62733],"class_list":["post-307246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-declaration","tag-llp","tag-Ministry_of_Corporate_Affairs","tag-significant-benficial-owner"],"yoast_head":"\nLLP (Significant Beneficial Owners) Rules, 2023 | SCC Blog<\/title>\n<meta name=\"description\" content=\"Ministry of Corporate Affairs notified LLP (Significant Beneficial Owners) Rules, 2023 mandating every LLP to find out if any of the individuals is a significant beneficial owner in relation to that reporting LLP and on identification such individual has to make a declaration.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs\" \/>\n<meta property=\"og:description\" content=\"Ministry of Corporate Affairs notified LLP (Significant Beneficial Owners) Rules, 2023 mandating every LLP to find out if any of the individuals is a significant beneficial owner in relation to that reporting LLP and on identification such individual has to make a declaration.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-15T12:30:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"886\" \/>\n\t<meta property=\"og:image:height\" content=\"590\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kriti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kriti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/\",\"name\":\"LLP (Significant Beneficial Owners) Rules, 2023 | SCC Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp\",\"datePublished\":\"2023-11-15T12:30:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\"},\"description\":\"Ministry of Corporate Affairs notified LLP (Significant Beneficial Owners) Rules, 2023 mandating every LLP to find out if any of the individuals is a significant beneficial owner in relation to that reporting LLP and on identification such individual has to make a declaration.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp\",\"width\":886,\"height\":590,\"caption\":\"ministry of corporate affairs\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\",\"name\":\"Kriti\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"caption\":\"Kriti\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"LLP (Significant Beneficial Owners) Rules, 2023 | SCC Blog","description":"Ministry of Corporate Affairs notified LLP (Significant Beneficial Owners) Rules, 2023 mandating every LLP to find out if any of the individuals is a significant beneficial owner in relation to that reporting LLP and on identification such individual has to make a declaration.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/","og_locale":"en_US","og_type":"article","og_title":"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs","og_description":"Ministry of Corporate Affairs notified LLP (Significant Beneficial Owners) Rules, 2023 mandating every LLP to find out if any of the individuals is a significant beneficial owner in relation to that reporting LLP and on identification such individual has to make a declaration.","og_url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2023-11-15T12:30:21+00:00","og_image":[{"width":886,"height":590,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.jpg","type":"image\/jpeg"}],"author":"Kriti","twitter_card":"summary_large_image","twitter_title":"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs","twitter_misc":{"Written by":"Kriti","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/","url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/","name":"LLP (Significant Beneficial Owners) Rules, 2023 | SCC Blog","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp","datePublished":"2023-11-15T12:30:21+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd"},"description":"Ministry of Corporate Affairs notified LLP (Significant Beneficial Owners) Rules, 2023 mandating every LLP to find out if any of the individuals is a significant beneficial owner in relation to that reporting LLP and on identification such individual has to make a declaration.","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp","width":886,"height":590,"caption":"ministry of corporate affairs"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/15\/government-notifies-limited-liability-partnership-significant-beneficial-owners-rules-2023-legal-news\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"MCA notifies Rules for Significant Beneficial Owners & their Declaration to reporting LLPs"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd","name":"Kriti","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","caption":"Kriti"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":305955,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/10\/30\/mca-notifies-limited-liability-partnership-third-amendment-rules-2023-legal-news\/","url_meta":{"origin":307246,"position":0},"title":"MCA mandates to maintain Register of Partners vide LLP (Third Amendment) Rules, 2023","author":"Kriti","date":"October 30, 2023","format":false,"excerpt":"On 27-10-2023, the Ministry of Corporate Affairs notified the Limited Liability Partnership (Third Amendment) Rules, 2023 to amend the Limited Liability Partnership Rules, 2009. The provisions came into force on 27-10-2023. Key Points: Rule 22-A has been inserted relating to \u201cRegister of Partners\u201d. Every Limited Liability Partnership (\u2018LLP\u2019), from the\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of corporate affairs","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":209899,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/13\/central-government-notifies-companies-significant-beneficial-owners-amendment-rules-2019\/","url_meta":{"origin":307246,"position":1},"title":"Central Government Notifies — Companies (Significant Beneficial Owners) Amendment Rules, 2019","author":"Bhumika Indulia","date":"February 13, 2019","format":false,"excerpt":"G.S.R. 100(E)\u2014 In exercise of the powers conferred by sub-sections (1) and (2) of Section 469 read with Section 90 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Significant Beneficial Owners) Rules, 2018, namely:- 1. (1) These\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":293841,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/05\/mca-revises-llp-form3-vide-limited-liability-partnership-amendment-rules-2023-legal-news\/","url_meta":{"origin":307246,"position":2},"title":"Govt revises LLP Form No 3 vide Limited Liability Partnership (Amendment) Rules, 2023","author":"Kriti","date":"June 5, 2023","format":false,"excerpt":"On 2-6-2023, the Ministry of Corporate Affairs notified the Limited Liability Partnership (Amendment) Rules, 2023 to amend the Limited Liability Partnership Rules, 2009. LLP Form No. 3 relating to \u201cInformation with regard to Limited Liability Partnership Agreement and changes, if any, made therein\u201d has been revised with effect from 2-6-2023.","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of corporate affairs","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":201053,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/09\/07\/limited-liability-partnership-in-the-wake-of-start-up-era\/","url_meta":{"origin":307246,"position":3},"title":"Limited Liability Partnership in the wake of start-up era","author":"Saba","date":"September 7, 2018","format":false,"excerpt":"by Hetal Doshi*","rel":"","context":"In "Op Eds"","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":300917,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/09\/06\/mca-revises-forms-in-limited-liability-partnership-rules-legal-news\/","url_meta":{"origin":307246,"position":4},"title":"MCA revises Forms 3 & 4 vide LLP (Second Amendment) Rules, 2023","author":"Kriti","date":"September 6, 2023","format":false,"excerpt":"On 1-9-2023, the Ministry of Corporate Affairs notified the Limited Liability Partnership (Second Amendment) Rules, 2023 to amend the Limited Liability Partnership Rules, 2009. The provisions came into force on 1-9-2023. Key Points: Form 3 relating to \u201cInformation with regard to Limited Liability Partnership Agreement and changes, if any, made\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of corporate affairs","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":33481,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/01\/22\/huf-or-its-karta-cannot-become-a-partner-or-designated-partner-in-llp\/","url_meta":{"origin":307246,"position":5},"title":"HUF or its Karta cannot become a partner or designated partner in LLP","author":"Sucheta","date":"January 22, 2016","format":false,"excerpt":"In a circular dated January 15, 2016, Ministry of Corporate Affairs clarifies to a stakeholder who pointed out that in the General Circular no. 13\/2013, the last sentence of the paragraph (quoted below) of the circular does not give a \u00a0mention of the Partner. In General Circular 13\/2013, it has\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/307246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=307246"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/307246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/293777"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=307246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=307246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=307246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}