LLP Act

The Parliament Passed LLP bill on

• 10th December 2008
• 12th December 2008
• 7th January 2009
• 26th January 2009

The President of India Assented the Bill on

• 10th December 2008
• 12th December 2008
• 7th January 2009
• 26th January 2009

Schedule I deals with

• Mutual Rights and Duties of partners and LLP and its partners in the absence of formal agreement
• Conversion of Firm into LLP
• Conversion of private limited to LLP
• Conversion of unlisted company to LLP

Schedule II deals with

• Mutual Rights and Duties of partners and LLP and its partners in the absence of formal agreement
• Conversion of Firm into LLP
• Conversion of private limited to LLP
• Conversion of unlisted company to LLP

Schedule III deals with

• Mutual Rights and Duties of partners and LLP and its partners in the absence of formal agreement
• Conversion of Firm into LLP
• Conversion of private limited to LLP
• Conversion of unlisted company to LLP

Schedule IV deals with

• Mutual Rights and Duties of partners and LLP and its partners in the absence of formal agreement
• Conversion of Firm into LLP
• Conversion of private limited to LLP
• Conversion of unlisted company to LLP

Who has entrusted with the task of adminsitering the LLP Act?

• MCA
• ROC
• Both
• None

Which of the Following Statement is Correct

• LLP Act is Applicable to Whole of India, Except Jammu & Kashmir
• Listed company may be converted to LLP after approval from CG
• Indian Partnership Act is not Applicable to LLPs
• Companies Act is Not applicable to LLPs

Body Corporate Does not include

• a Corporation sole
• Company incorporated outside India
• Foreign LLP
• LLP

Which of the Following Statement is Correct? If LLP is Incorporated on 1st December, 2024, What will be the Financial Year applicable?

• LLP shall have its FY as 2024-25
• LLP may have its FY as 2025-26 at discretion of ROC
• LLP may have its FY as 2025-26 at discretion of itself
• LLP shall have its FY as 2025-26