{"id":33481,"date":"2016-01-22T13:39:53","date_gmt":"2016-01-22T08:09:53","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=33481"},"modified":"2016-02-09T14:43:25","modified_gmt":"2016-02-09T09:13:25","slug":"huf-or-its-karta-cannot-become-a-partner-or-designated-partner-in-llp","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/01\/22\/huf-or-its-karta-cannot-become-a-partner-or-designated-partner-in-llp\/","title":{"rendered":"HUF or its Karta cannot become a partner or designated partner in LLP"},"content":{"rendered":"<p style=\"text-align: justify;\">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 been quoted that \u201c<em>as per section 5 of LLP Act, 2008, only an individual or body corporate can become a partner in a Limited Liability Partnership. An HUF cannot be treated as a body corporate for the purpose of LLP Act, 2008. Therefore, HUF or its Karta cannot become a partner or designated partner in LLP<\/em>.\u201d<\/p>\n<p>The Ministry therefore while clarifying to the stakeholder stated that HUF or its Karta cannot become a partner or designated partner in LLP.<\/p>\n<p style=\"text-align: right;\"><strong>-Ministry of Corporate Affairs<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong><a href=\"http:\/\/www.mca.gov.in\/Ministry\/pdf\/General_Circular_2_2016.pdf\">General Circular No. 2\/2016<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/www.mca.gov.in\/Ministry\/pdf\/General_Circular_13_2013_LLP.pdf\">General Circular No. 13\/2013<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a circular dated January 15, 2016, Ministry of Corporate Affairs clarifies to a stakeholder who pointed out that in the General 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