LLP DEED
vijay dhiman
(Querist) 24 August 2009
This query is : Resolved
Dear All,
Pls arrange Limited liability Partnership Deed Performa
Regds
Vijay Dhiman
Advocate
Arul Kumar
(Expert) 24 August 2009
Please visit http://www.llp.gov.in/ to get complete procedure for the formation of LLP in India.
Guest
(Expert) 24 August 2009
LLP AGREEMENT
(As per Section 23(4) of LLP Act, 2008)
THIS Agreement of LLP made at ............ this.................... Day of ...................... 20............
BETWEEN
1. ……………….., a company registered under the Companies Act, 1956, having its registered office at …………….. through its authorized representative ……………. which expression shall, unless it be repugnant to the subject or context thereof, include their legal heirs, successors, nominees and permitted assignees and hereinafter called the FIRST PARTY, and
2. ………….. residing at ………………..which expression shall, unless it be repugnant to the subject or context thereof, include their legal heirs, successors, nominees and permitted assignees and hereinafter called the SECOND PARTY,
(BOTH THE FIRST & SECOND PARTY SHALL BE COLLECTIVELY REFERRED TO AS PARTNERS)
WHEREAS the First Party is ………………
WHEREAS the Second Party is ………….. .
NOW The First & Second Party are interested in forming a Limited Liability Partnership under the Limited Liability Partnership Act 2008 and that they intends to write down the terms and conditions of the said formation and
IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS
1. A Limited Liability Partnership shall be carried on in the name and style of M/s. …………… LLP and hereinafter called as …X….. LLP.
2. The X LLP shall have its registered office at ………….. and/or at such other place or places, as shall be agreed to by the majority of the partners from time to time.
3. The Contribution of the X LLP shall be Rs……… (Rupees ……….. only) which shall be contributed by the partners in the following proportions.
First Party …..% i.e. Rs .……. (Rupees ………….. only)
Second Party ……% i.e. Rs ……… (Rupees ……….. only)
The further Contribution if any required by the X LLP shall be brought by the partners in their profit sharing ratio.
4. The X LLP shall have a common seal to be affixed on documents as defined by partners under the signature of any of the Designated Partners.
5. All the Partners of the X LLP are entitled to share profit and losses in the ratio of their respective contribution in the X LLP.
6. The business of the X LLP shall be of …………………………………...
and other ancillary business more particularly described in the Schedule 1 annexed herewith or any other business in any other manner as may be decided by the majority of Partners.
Admission of New Partner
7. No Person may be introduced as a new partner without the consent of all the existing partners. Such incoming partner shall give his prior consent to act as Partner of the X LLP.
8. The Contribution of the partner may be tangible, intangible, Moveable or immoveable property and the incoming partner shall bring minimum contribution of Rs. …………..
9. The Profit sharing ratio of the incoming partner will be in proportion to his contribution towards X LLP.
Rights of Partner
10. All the partners hereto shall have the rights, title and interest in all the assets and properties in the said X LLP in the proportion of their Contribution.
11. Every partner has a right to have access to and to inspect and copy any books of the X LLP.
12. Each of the parties hereto shall be entitled to carry on their own, separate and independent business as hitherto they might be doing or they may hereafter do as they deem fit and proper and other partners and the X LLP shall have no objection thereto provided that the said partner has intimated the said fact to the X LLP before the start of the independent business and moreover he shall not uses the name of the X LLP to carry on the said business.
13. X LLP shall have perpetual succes¬sion, death, retirement or insolvency of any partner shall not dissolve the X LLP.
14. On retirement of a partner, the retiring partner shall be entitled to full payment in respect of all his rights, title and interest in the partner as herein provided.
CA Adarsh Agrawal
(Expert) 27 April 2010
Please find all the details regarding LLP !!
http://www.lawyersclubindia.com/forum/Download-Complete-Details-of-LLP/17834/
Sarvesh Kumar Sharma Advocate
(Expert) 24 August 2009
