Comments on Why chose Private Limited Company over Limited Liability Partnership

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Mumtaz Moosa

Mumtaz Moosa

Wrote on 14 April 2018  

Sir I have as an individual filed a suit under the transfer of property act for recovery of possession from A firm with 5 partners,during course of evedince 4th partner has filed application stating the firm is unregistered,And I as a individual also i cannot file a suit on unregistered firm.It is not a case were a firm is filing the suit.Sir please throw light on this issue. _Thanks



vswaminathan

vswaminathan

Wrote on 08 April 2018  

OFFHAND Anyone may not be obliged to bother self (ves) to go into and consider independently the reasons given why a 'plc' is a better choice , in comparison to a 'llp'. Further, that is a decision to be taken , upfront, by the group of persons - business men or professionals, intimately concerned; required to be done, taking into account, depending upon the size of the legal entity , in mind, to be formed, the peculiarities of the type of venture, in contemplation, from all angles (not barring the tax angle). Be that as it may, some of the aspects highlighted/brought to focus, in a couple of articles - notwithstanding that was, at a point in time before the 'llp' concept was gone ahead with and finally given the shape as brought in on the statute book,- may be usefully referred to, even now. Citation: (2005) 128 Comp. Cas pg 1; and (2006) 65 SCL pg. 42. courtesy


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