Question

designated partners​

Answer 1

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Designated Partners is a concept introduced by the Limited Liability Partnership Act, 2008. Designated Partners are similar to Directors of a Private Limited Company. A Designated Partner in a LLP when compared to the Director of a Company, enjoy more rights and priviledges.

In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners

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Answer 2

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HEY MATE HERE IS YOUR ANSWER..☺

Designated Partners is a concept introduced by the Limited Liability Partnership Act, 2008. Designated Partners are similar to Directors of a Private Limited Company. A Designated Partner in a LLP when compared to the Director of a Company, enjoy more rights and priviledges. In this article, we look at the rights, responsibilies and privileges of a Designated Partner in detail.

●○Who can be a Designated Partner in LLP?

Designated partners can only be individuals. Among the members of a Limited Liability Partnership, two or more partners can be designated as a Designated Partner. In all LLP, atleast one of the Designated Partner must be an Indian Resident.

○●Who can’t be a Designated Partner?

The persons listed below do not qualify to be a designated partner:

An undischarged insolvent.

A person who was declared involvement in the preceding five years.

A person who has withheld payments to his creditors at any point of time in the preceding five years of time, and has not made a composition with the creditors.

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