Re-engineering of LLP-Incorporation forms

posted by: corporate

In the wake of successfully initiating Ease of Doing Business (EoDB) reforms by introducing game changing, simplified and integrated procedures viz. SPICe (Simplified Proforma for Incorporating Company electronically), Reserve Unique Name(RUN) for starting a business in India, the Ministry of Corporate Affairs has now launched another major reform by way of process reengineering of incorporation of Limited Liability Partnership(LLP) as well on a big scale.

2. LLP (Second Amendment) Rules, 2018: The much awaited Limited Liability Partnership (Second Amendment) Rules 2018 containing the relevant revised rules and incorporation related eform layouts have been notified on 18th September 2018 which would come into effect from 02nd October 2018. The said amendment rules contain changes as detailed below:

(i) Introduction of a Web Service titled ‘RUN-LLP (Reserve Unique Name – Limited Liability Partnership)’ replacing the erstwhile Form 1 (Application for reservation or change of name).

 (ii) Introduction of a new integrated Form christened FiLLiP (Form for incorporation of Limited Liability Partnership) replacing the erstwhile Form 2 (Incorporation document and subscriber’s statement) combining therein 3 services i.e.,

1. a) Name reservation.
2. b) Allotment of Designated Partner Identification Number (DPIN/DIN).
3. c) Incorporation of the LLP.
4. Change in the Processing of eForms: The applications which would be submitted using the web-service/eForms viz. RUN-LLP, FiLLiP, Form 17, Form 18 and Form 5 would be processed at a Centralised location by the Registrar, Central Registration Centre(CRC) for and on behalf of the jurisdictional Registrar.
5. RUN-LLP (Reserve Unique Name – Limited Liability Partnership): RUN-LLP would be a simple and easy to use Web Service for reserving a name for a new LLP or for Change of Name of any existing LLP. with only 4 relevant fields. The new web service would replace the existing Form 1.

(ii) This is a ‘post-login’ service and existing users would need to login into their account using their credentials. New users are required to create a login account first before using the service.

(iii) As shown above the service contains following simple fields apart from radio buttons for choosing ‘New Service or Resubmission’: a) New Incorporation/ Conversion: User has to select whether name reservation is for New incorporation/ Conversion of firm into LLP/Conversion of private company/unlisted public company into LLP.

LLPIN/CIN: User shall enter LLPIN in case of name reservation for change of existing name of LLP. CIN shall be entered in case of Conversion of private company/unlisted public company into LLP.

1. c) Proposed name 1 and 2: User may enter up to two proposed names for reservation.
2. d) Comments: User needs to mention the objects of the proposed LLP and any other relevant comments.