PUNE Nande Campus

S. No. 44/1, 44 1/ 2, Nande Village
Pashan Sus Road, Taluka Mulshi
Pune 412 115
Dolamani Sahu: 07757029572
  020 66754651/64
  07757029571
  020 66754678
  admissions@isbm.ac.in

PUNE Mulshi Campus

Mulshi Group of Institute
Gat No. 237-243
Near Malhar Machi Resort
Sambhave Tal Mulshi
Pune 412108
7757029572

KOLKATA Campus

A constituent of People's Empowerment Group Foundation
Premises No. 330/2, Pujali Trunk Road,
Ward No. 9, Mouza – Rajibpur, JL No. 43, 
Police Station – Budge Budge, 
Kolkata 700138, West Bengal
Landline: +91 33 24820019
Biswanath Thakur: 09230562572
Baishakhi Chatterjee: 09230562601
  admissions.kolkata@isbmk.edu.in

BANGALORE Campus

Plot No. 241
Sompura Industrial Area
Niduvanda Village
Sompura Hobli, Nelamangala Taluk
Bangalore 562132
07757029572
080-29717901/ 080-27700169 / 27700170
  admissions@isbm.ac.in


Bangalore City Office

301, Anand Chambers,
# 27 Elephant Rock Road,
In front of Central library,
3rd Block, Jayanagar
Bangalore - 560 011
Dolamani Sahu: 07757029572
Landline no : 080 41612929

Lucknow City Office

B-1/96, Near Jaipuriya College,
Vineet Khand, Gomti Nagar,
Lucknow – 226010
Shimul Banerjee: 09519218833
Avijit Banerjee: 09830991821

Gurgaon City Office

Rectangle No. 41,
Maidawas Sector – 64
Gurgaon, Haryana – 122101
Vijay Kumar: 09899115369
Avijit Banerjee: 09830991821

LIMITED LIABILITY PARTNERSHIP (LLP)

LIMITED LIABILITY PARTNERSHIP (LLP)

Student

A Limited Liability Partnership, popularly known as LLP, combines the advantage of both the company and partnership into a single form of organization and offers a hybrid structure.

To facilitate such structure which has been prevalent in other countries for quite some time, The Ministry of Corporate Affairs brought the concept of LLP firms into picture, i.e. an entity which offers more flexibility –coupled with less compliance to follow. Accordingly, the LLP act was executed in 2008, and the Indian Partnership Act would no longer be applicable to such firms. As per the Act, LLP is defined as the business entity where having two designated partners is minimum requirement and such partners have their liabilities limited to their contribution to the LLP. Just like a company an LLP is a separate legal entity having a perpetual succession. Thus LLP as a business structure proved itself to be a mid way between a partnership and a company for those who were operating partnership firms but wanted to work in the organized sector under a legally complied structure with restricted liability.

The best thing about LLP is that the LLP Agreement is of fundamental importance. The Agreement defines the rules of the games, terms and conditions of the relationship vis-à-vis the LLP and the partners inter se. The entire LLP functions on the basis of the LLP Agreement. This gives it an edge over Limited Companies which is bound by various legal provisions and cannot give the flexibility in management as an LLP offers.

Another unique feature of LLP is that like companies it can have Companies / Body Corporate, whether incorporated within India or outside as partners besides LLPs and individuals both registered/resident in India and abroad.

Service industries, small to medium scale business start ups, businesses which are financed by silent partners but run by few active partners find LLP as the most suitable business entity for their ventures.

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