Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

SURESHKUMAR.S (ADVOCATE)     01 February 2010

CLARIFICATIONS IN LLP

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?

 



Learning

 10 Replies

Rajkishore Bhagwatsaran (Advocate)     01 February 2010

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.

 

Rakesh Kumar (n/a)     01 February 2010

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

 

Regards

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     02 February 2010

The opinion of kishore is accurate

SURESHKUMAR.S (ADVOCATE)     04 February 2010

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.

Rajkishore Bhagwatsaran (Advocate)     04 February 2010

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. 

 

Pankaj Kumar (Legal Executive)     05 February 2010

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.

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     08 February 2010

I do agree wih pankaj.

Rajendra Kumar (self employed)     24 February 2010

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.

Rajkishore Bhagwatsaran (Advocate)     25 February 2010

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

1 Like

sanjeev kumar (Founder & CEO Setindiabiz.com a unit of KPS Corporate Consultants P Ltd)     05 March 2013

The correct position with respect to LLP by advocates is this that the registrar insist for an in prncipal approval from the regulatory authority, the bar council of india in this case.

the llp between advocates, Ca and CS is not permitted as of now. However in due course of time it shall be allowed.

 

reply of all other members are correct in the circumnstances


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Recent Topics


View More

Related Threads


Loading
Start a New Discussion Unreplied Threads



Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query