Llp

NFRA moves to extend company audit rules to limited liability partnerships

Experts noted that while specific standards on auditing exist for companies, such standards are yet to be notified for LLPs

ICAI proposes new domestic networking model for chartered accountancy firms

Public comments on a proposal to 'tap synergies' will be accepted till June 6

Company registrations decline in April while LLPs reach new heights

Ongoing Lok Sabha elections and high base effect from record registrations in FY24 were attributed as reasons for the April drop

More than 196,000 cos, LLPs incorporated till Nov this year: Govt

More than 1.96 lakh companies and Limited Liability Partnerships (LLPs) were incorporated in the country this year till the end of November, which is higher than 1.88 lakh such entities registered in the year-ago period, the corporate affairs ministry said on Thursday. Providing a review of the key developments during 2023, the ministry said in the framework of corporate governance, it continues to focus on bolstering 'ease of compliance' and 'ease of doing business'. "During calendar year 2023, 1,96,028 companies and LLPs got incorporated as on 30th November 2023 as against 1,88,364 companies and LLPs for the corresponding period during calendar year 2022," the ministry said in a release. Among others, in 2023, the Central Processing for Accelerated Corporate Exit (C-PACE) became operational in May. Amendments were also made to the Competition Act as well as to various rules under the Companies Act. "In an important development, the amendment to the Companies (Compromises, ...

IndiGo to set up LLP for venture capital investments in early stage firms

InterGlobe Aviation will set up a venture capital arm to make investments in early stage companies that are into aviation, consumer and allied sectors. The board of the company, the parent of the country's largest airline IndiGo, approved the incorporation of a Limited Liability Partnership (LLP) for venture capital investments on Wednesday. IndiGo's Chief Financial Officer Gaurav Negi said it will be going for regulatory approvals for setting up the LLP and that internal discussions are happening about the possible investments. He said the LLP will be set up with an initial investment of Rs 7 crore. "We are getting into venture capital arm side where we will be making early stage investments in early stage companies...," he said during a call with analysts after announcing the company's June quarter financials. The LLP will focus on "investment in startups operating in aviation, consumer and allied sectors such as travel & lifestyle, hospitality and transportation," a regulatory

Registrar of Companies to crack down on law violators with new reforms

Registrar of Companies expect to conduct a more detailed analysis of transactions involving companies that draw attention due to certain regulatory concerns

Most Indian organisations plan raising AI investment this year: Report

Amount will be driven by 'business outcomes', according to survey of 200 business leaders

CBDT proposes common ITR with focus on crypto assets declaration

New return to also seeks details on foreign equity and debt held by resident Indians; much more exhaustive list for NRIs

Proposed minimum assured-return scheme may fetch 2-7% rate of return

Committee set up by pension regulator to consider suggestions made by consultant for scheme

Indian cryptocurrency exchange Vauld suspends withdrawals, trading

Company says it's looking for new potential investors as it considers the option of restructuring

Second amendment to LLP Rules will ease procedural burden: Experts

At the time of incorporation, five can be appointed designated partners

Govt brings schemes for 'fresh start' for cos, LLPs amid Covid1-9 outbreak

The entities would get immunity from penal proceedings with respect to delay in submission of requisite filings

Alternative investment funds explore conversion to LLPs over tax surcharge

Compliance burden may, however, make conversion difficult to execute

After targeting over 200,000 shell firms, govt is trying to weed out LLPs

An LLP is a company in which partners are not always responsible for each other's actions