LIMITED LIABILITY PARTNERSHIP LAW AND PRACTICE BY HITENDER MEHTA

Key Features :

This book review about the 7^th Edition of “Limited Liability Partnerships -Law and Practice” authored by Mr. Hitender Mehta and published by Commercial Law Publishers Pvt. Ltd. This book has been there since 2009, when the Limited Liability Partnership Act, 2008 was notified to come into force (w.e.f. 31^st March 2009).

The author of the book, Mr Hitender Mehta has been a distinguished Member of the Committee of Group of Experts, constituted in 2011 by Ministry of Corporate Affairs (MCA), Government of India to examine the simplification of LLP Act, Rules and approach/methodology for promoting LLPs and matters related thereto.

As one lays hands on the 7^th Edition the book, it can be made out that over the period of time, the book has evolved to become a sort of encyclopaedia on the subject of ‘Limited Liability Partnerships’ in India. It seeks to cover almost every facet of the LLPs. The arrangement of book is such that, before reaching a particular conclusion, the reader is capable of comprehensively understanding the provisions of the law.

In Part I, the section-wise commentary in the initial fourteen chapters is followed by Frequently Asked Questions (FAQs) at the end of each chapter, which makes it easy for the readers to understand the nuances of the LLP Act and Rules. Latest case laws, notifications and circulars have been aptly dealt with at appropriate places.

In Part II, unlike other books, this book explains taxation of LLP in great detail. Comparison with other business structures such as companies and partnership firms in a tabular form comes very handy to comprehend advantages or disadvantages of the LLP structure vis-a-vis other business structures. The chapters relating to FDI in LLPs also captures discussion about the FDI Policy Circular of 2020 issued in October 2020. Global comparison of LLPs tends to give the idea as to how popular the LLP structure is worldwide. The LLP by and amongst Professionals viz., CSs, CAs, CWAs, Advocates, etc. has been exhaustively explained. Model LLP Agreement provided in the book is quite comprehensive.

Part III of the book deals with the LLP procedures and practical issues and explains the issues such as incorporation of LLPs, change in partners, change in registered office, change in LLP agreement, conversion of companies into LLP.

The book also covers latest developments viz. LLP Settlement Scheme 2020 and proposed Decriminalisation of offences under the LLP Act.

This book would be of immense use to, and is a ‘must have’ for, Company Secretaries, Chartered Accountants, Cost Accountants, Entrepreneurs, Professional Institutes, Law Schools, Universities, Government Departments, Judicial and quasi judicial bodies.

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