Designated Partner in LLP

Designated Partner is a partner who is responsible for the all the acts and duties of an LLP. There are minimum two designated partners, who are nominated in the LLP Agreement.

Designated Partner in an LLP

A Designated Partner is a partner, 

  • Who has a Director Identification Number
  • He can be an individual as well as a nominee of a body corporate 
  • In an LLP there has to be a minimum of 2 designated partners
  • At least one of the designated partner should be a resident of India
  • A designated partner has the same liability as that of other partners in an LLP.

 

How is a Designated Partner nominated

A Partner can be nominated as a designated partner, by giving a prior consent to the LLP which shall be filed with the Registrar

  • if it is expressly enumerated in the incorporation document
  • if it is specified that each partner may be a designated partner as and when appointed at the time of incorporation
  • any partner may become or cease to be a designated partner according to limited liability partnership agreement
  • if the LLP Agreement is silent, then every partner shall be treated as a Designated Partner.

 

Rights and Duties of a Designated Partner

Every Limited Liability Partnership is operated by the Designated Partners. They are the Backbone of an LLP. All the rights and duties of a Designated Partner are:

  • Manage the Compliances of an LLP.
  • All the legal formalities need Designated Partner's Signature.
  • Any change in LLP cannot be executed without the consent of a Designated Partner 

To know More  Visit Designated Partner rights.

 

Liability of a Designated Partners

Every Partner in an LLP is vested with some statutory liabilities, which are:

  • They represent the LLP individually.
  • Any liability towards the LLP can be recovered from them in the ratio specified, to the extent of their capital contribution.
  • They are independent of the acts of other partners in an LLP.

To Know More Visit Liability of Partners in LLP

 

 

 


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