Hindu Undivided Family ( HUF)/its Karta cannot become Partner/ Designated Partner in Limited liability Partnership (LLP)

MCA has issued circular dated 15th January, 2016 to clarify Hindu Undivided Family ( HUF)/its Karta cannot become Partner/ Designated Partner in LLP.

As per Section 5 of LLP act, 2008 only an individual or Body Corporate may be a partner in the LLP and HUF cannot be treated as a Body Corporate for the purpose of LLP Act, 2008.

http://www.mca.gov.in/Ministry/pdf/General_Circular_2_2016.pdf

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