Sunday, January 19

LLP - HUF cannot be a partner

The Ministry of Corporate Affairs (MCA) has clarified (General circular no. 13/2013) that a Hindu Undivided Family (HUF) cannot be a partner in an Limited Liability Partnership (LLP). 

This is consistent with Sec 5 of LLP Act 2008 which states that only an Individual or a Body Corporate can become a partner in LLP.

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