According to theCompanies Act there are certain duties to be done by the Directors, these general management duties may include: Important decision making that will in a way benefit the company and its owners, and also consulting the creditors/shareholders before taking any decision.
Liability of the partners are limited and minimal, since LLP & person are separate entities the liability for repayment of debts in case of mishap is not imposed on the partners and not even on the shareholders, they are liable only to their restricted shares.
There are certain steps associated with the incorporation of a Limited Liability Partnership for foreign nationals: The Structure: The firm needs to have a minimum of two partners and among the partners, it is must to have at least one of Indian origin i.e. both citizen and resident of India.
It is of 10 characters which are made up of numbers and digits; is distinctive for each card holder and made necessary for all Private limited Companies to acquire after registration with the Registrar of companies.
The companies which should have their own AOA are: Private companies limited by shares Companies limited by guarantee Companies with unlimited liabilities of its members Points to be taken care of while drafting an AOA Companies who are required to have registered articles may or may not adopt all the regulations mentioned in table A of the first schedule of the act and those who fail to do the same the provisions of the table will be applicable to them.