What Process for Limited Liability Partnership Registration in Chennai?
What Process for Limited Liability Partnership Registration in Chennai?
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Chennai is a business-friendly city with investor-friendly policies, an efficient regulatory framework and a well-developed infrastructure. This helps in attracting foreign investment, promoting industrial growth and generating employment opportunities. Aside from this, Chennai has a large number of research and development centres which further contribute to the city's economy. However, a few issues can be faced by entrepreneurs while setting up their businesses in Chennai. This article will outline the procedure for converting a partnership firm into a LLP in Chennai.
The partners of the original partnership firm must give consent for converting it into an Limited Liability Partnership Consultant. Aside from this, the LLP must be registered under the Partnership Act 1932. Also, the LLP should have a distinctive name that is not similar to any existing business entity. The application for LLP registration must be filed online through the MCA portal. After submission, the Registrar of Firms will issue the Certificate of Registration.
During the registration process, the registrar will check all the documents and details mentioned in the application form. The registrar will also ensure that the authorised capital and paid-up capital are correct. In addition, he will verify the PAN Card of the directors and the proof of address (passport size photos, Aadhar Cards or Voter ID Cards).
The registrar will publish the statement of accounts and solvency report on the MCA website. Similarly, the LLP is required to file its annual return with the Ministry of CorporateAffairs within a stipulated period.
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