Indian Merchants’ Chamber under its Law: Review, Reforms and Rationalisation Committee is organizing a Half-Day Workshop on, ‘Limited Liability Partnership’ on Saturday the 10th October, 2009 from 10.00 a.m. to 1.00 p.m. in the Walchand Hirachand Hall (4th Floor), IMC.
The Government has enacted Limited Liability Partnership Act to provide a new corporate form which would provide an alternative to the traditional partnership with unlimited personal liability on one hand and statute-based governance structure of Limited Liability Company on the other hand, in order to enable professional firms and business firms to combine, organize and operate in flexible, and efficient manner with limited personal liability.
Limited Liability Partnership (LLP) is an alternative corporate business vehicle that provides the benefits of Limited Liability but allows its members the flexibility of organizing their internal structure as partnership based on mutually arrived agreement.
A large number of professional partnership firms and also business partnership firms have already started getting themselves converted from partnership form of organization to Limited Liability Partnership to take advantage of various benefits which are bestowed by this new form of business enterprise. Service sector is playing a major role in the national economy and this sector would also find this form very advantageous. In order to provide an insight into various aspects of Limited Liability Partnerships your chamber is organizing this workshop. The workshop will cover amongst other things the basic concepts of Limited Liability Partnership, advantages of Limited Liability Partnership, procedure for incorporation of Limited Liability Partnership, conversion of partnership firms and Private Limited Companies into Limited Liability Partnerships, drafting of Limited Liability Partnership agreement and extent of limitation of liability of LLP and its partners (members) and will also cover taxation aspects of Limited Liability Partnership and its members.
Mr.Janak Dwarkadas, Senior Counsel will be the Chief Guest at the Workshop who will give his opening remarks giving the background of Law prevailing in other countries. The faculty consisting of Mr.Dhaval Vussonji Partner of M/s.Kanga & Co. Advocates and Solicitors and
Mr. Sanjay Kapadia, Executive Director from Pricewaterhouse Coopers Pvt. Ltd. will, between them cover all the important aspects of Limited Liability Partnership.