cpc

clarifications in llp

ADVOCATE

Dear Friends,

Certain Points in Formation of LLP is to be clarified, as follows;

1. whether Bar council of India permits/authorises formation of LLP for  PRACTISING Advocates? If so, kindly substantiate the notifications,orders,any.  

2) In a Law firm (LLP) ,  Can a Lawyer, being a Partner of the firm , could  be a designated partner? According to LLP Act , the minimum requirment is only 2 partners. 2 are required for designated partners and the same partner can be a designated partner?

 

 
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You dont need permission from the Bar Council of India to form a LLP which has its main objects to practise law.  The only requirement by implication will be that such a LLP should not have non lawyers as partners.

Yes.  If two lawyers form a LLP then both of them should be act as the minimum two designated partners.

 
 
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Use of the word 'Advocates' in your proposed name of  LLP shall require approval from Bar Council.

 

Regards

 
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Adv P & H High Court Chandigarh

The opinion of kishore is accurate

 
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ADVOCATE

Dear friends,

Thanks for all your information and advice .I have referred provisions under Bar Council of Rules , wherein right now , advocate cannot enter into any partnership with any body for profit. And till now , it seems Bar council of India is silent on that aspect.

Any how , it is awaiting for the  clarity.

 
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Suresh,

A LLP does not mean that it is being formed for profit.  Even otherwise there is no bar.  Of course when two lawyers join together and form a partnership there will be an implied profit motive which the Bar council cannot  regulate or curtail.   Already there are several law firms which have been formed under the LLP model.  Even in a partnership under the Partnership Act there is a profit motive.  What is important to recognise under both these models is the limited liability versus unlimited liability concept. 

 
 
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Legal Executive

Mr. Kishore is correct. Opening a law firm or LLP by lawyers does not mean doing business. It pertains to service sector and in the return is termed as fees instead of profit. Bar Council restricts adverstisement of these firms/advocats/LLPs by lawyers since intention of advertisement is to make profit.

 
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Adv P & H High Court Chandigarh

I do agree wih pankaj.

 
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self employed

Can CA and Advocate form a LLP. What is the present position as couple of months ago it was a hot issue. Presently whether a CA and an Advocate has to take permission from their respective Apex Bodies to form LLP.

Where registration of LLP van be done. It is only at Delhi or regional ROC have also been empowered to register the same as a Company.

 
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There are restrictions in all the four governing bodies about professionals from various disciplines forming an LLP i.e. ICAI, ICSI, ICWAI and BCI.  However the Central government has already moved a bill to amend the law relating to ICA, ICSI and ICWAI and this bill is likley to be passed in this budget session.  Unfortunately the BCI has not taken any steps to amend the Advocates Act or its own rules to permit lawyers to join in a partnership with other professionals.  Till this law or rule is passed an LLP cannot be formed with lawyers and other professionals as partners.

Rajkishore


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