Llp

Querist : Anonymous (Querist) 17 January 2012 This query is : Resolved
Hi everyone,

i have a few queries relating to LLP for which i require quick responses,
1) After incroporation of an llp, can the designated partners authorise some else other than the partners to run the business and become the authorised signatory for all purpose?
2) if it is possible, then does this have to be mentioned in the LLP agreement?
3) Apart from these, what else is to be done to make sure all compliances are made? is it enough if the designated partners give a power of attorney to that person?
Thanks in advance.

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Deepak Nair (Expert) 17 January 2012
The partners can issue Power of Attorney to any other person to manage the affairs of the LLP on their behalf.

Rajeev Kumar (Expert) 17 January 2012
I agree with Nair

Raj Kumar Makkad (Expert) 17 January 2012
1. No, if not provided in the bye-laws of LLP.

2. All partners can do while framing LLP in its bye-laws with mutual consent.

3. POA can also be given subject to its authorization as per bye-laws.

A silent partner can anytime check the record and business of firm himself or authorizing any person to do so on his behalf.

prabhakar singh (Expert) 17 January 2012
1.Granting POA in any body favor by LLP is required to be unanimous decision of all the partners.
2.yes!
is it enough if the designated partners give a power of attorney to that person?
NO!

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