COMPANY vs LLP |What is Limited Liability Partnership? | LLP | CSEET | CS Payal Popli

COMPANY vs LLP |What is Limited Liability Partnership? | CSEET | Legal Aptitude and Logical reasoning |CS Payal Popli
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In this video-
Teacher's Name - CS Payal Popli
Topic - Distinction between company and Limited Liability Partnership (LLP)
Chapter 4 -Elements of Company Law
Subject - Legal Aptitude and Logical Reasoning
CSEET (ICSI)
Watch full syllabus of CSEET - Legal Aptitude and Logical Reasoning from our playlist -
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Distinction between company and Limited Liability Partnership (LLP)
LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP.
Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.
Since LLP contains elements of both ‘a corporate structure’ as well as ‘a partnership firm structure’ LLP is called a hybrid between a company and a partnership.
LLP is a body corporate and a legal entity separate from its partners, having perpetual succession. LLP form is a form of business model which :(i) is organized and operates on the basis of an agreement.(ii) provides flexibility without imposing detailed legal and procedural requirements (iii) enables professional/technical expertise and initiative to combine with financial risk taking capacity in an innovative and efficient manner.
A basic difference between an LLP and a company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act) whereas for an LLP it would be by a contractual agreement between partners.
The management-ownership divide inherent in a company is not there in a limited liability partnership. LLP have more flexibility as compared to a company. LLP have lesser compliance requirements as compared to a company.
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[@padhakulog]

Full Difference between playlist - kzbin.info/aero/PLAxciooZTrO0tY1NVGxGiQdxJ6sBWCp0q

[@dr.saifisirtaxaccountingex634]

Wah 👏

[@khushikesharwani8882]

Superb way of explanation.....❤️❤️ I was facing tooo much problem 🥺 how to differentiate between these two topics but you have cleared everything in a very short way and in less time 😍💯

[@AishaSiddiqui-yu4uc]

Thank you Mam

[@amritaraj2484]

We love you ma'am. You are superb and excellent

[@gulshannagpal4590]

Ma’am iss topic mei bht confusion thi aapne bht ache se clear kr di❤

[@SahilKumar-oz4pg]

Thanks mam

[@advsyedbasitshah4479]

great

[@mannanartwork7799]

Thank u so much

[@noorrana5381]

Wow 😍😍thank you so much 🥰❤️ mam

[@saiyamgupta6384]

Amazing

[@mehaksareen5622]

Nice explaination mam....👏👏

[@tanyadhiman5790]

it is for sure if i go through your vedio..thn i'll definitely understand it....👍👍👍👍👍

[@padhakulog]

❤️❤️❤️

[@sandhyachourasiya5098]

Ma'am plz explain what is designated partner???

[@sandeepr.b.s4812]

Mam itna smoothly agar Mere teachers. Mujhe samjhate toh Aaj kuchh aur hota

[@gautamKumar-ci2ve]

Thankyou ma'am

[@aartinalawade2002]

superb

[@ananyadutta3710]

Thank you so much, ma'am. The way you present your content, it really becomes very easy to do a quick revision before examination. ❤

[@dipanshu9760]

Best teacher

[@prashantkishore5317]

Thank u so much Ma'am😄😄😄😄😄

[@meenujain3495]

Mam aap super Teach karti h

[@ankitgautam8381]

Thank you madam I don't comment after watching the video on KZbin but when I watch your video my concept clear easily

[@padhakulog]

❤️❤️

[@amritaraj2484]

Thank you so much ma'am

[@kliyadav436]

Thanks mam.......☺️

[@ashishvyas656]

Nice video mam

[@yogendramanjhi4972]

Thanks good tips

[@Maddybeatz]

Really ma'am bhot acche se samjh aaya..☺️☺️..🙏🏻

[@padhakulog]

Glad❤️ do subscribe for more such videos ❤️

[@ranadas2739]

What will happen if ABC Co. Ltd. acquires XYZ which is an LLP. Can ABC Co. Ltd. is able to acquire XYZ as it is not an individual. If it is not able to acquire XYZ then will XYZ turn into a company and then acquisition will be done?

[@meenujain3495]

Owsm mam

[@Atalkt344]

Mam llp pe app video bna do dubara jis me app full chp karvaye

[@Sudharshini444]

Mam I want the questions of classification of company based on incorporation

[@cine_vivek_edis]

limited liability partnership and winding up of limited liability partnership meaning please definition please

[@freakinayush7448]

Thanks a lot mam i missed this topic but now it's clear 😊

[@padhakulog]

❤️❤️❤️

[@padhakulog]

❤️❤️❤️

[@piyushsharma848]

Mam audit kon kare ga llp m 3 party ya llp aapne aap audit kar vati h ?

[@Amirthavarshini06]

Very excellent mam

[@padhakulog]

❤️❤️❤️

[@hardiklonewlf4937]

💙💙💙

[@Itzharshitaa]

Thank you mam aap ca inter law k lie topics ko bhi cover kro plz aapka way of teaching bht hi pyra hai ❤

[@padhakulog]

Kuch topics mention kr dena

[@wweraw8201]

Mam LLP ka bhi act hota h limited liability partnership Act,2008

[@paparockgaming4071]

Madam my question ❓ is if in LLP I invest 5 lack is it safe my money in this firm , & they are giving me agreement, & ROC also thier, & they are paying me 5 percentage of share every month please suggest me

[@nandanichauhan8641]

Mam plz plz mam shelf prospectus ka explain krdo mam mera exam hai mam ... Mam aap kheta hoo demand par aap video batanata hoo mam plz bana do

[@rohitsinghbisht933]

06:53 starts

[@wowweekends1553]

Use examples to make ur concept clearer, only facts n datas won't work

[@bestsongcollection8262]

Magnet brains leave kia ky apne mam

[@padhakulog]

No still teaching der

[@abushadshekh3272]

LLP me maximum kitne partner ho sakte hai... Mam

[@ubaidriyaz7189]

no limit

[@skp2076]

पायलजी llp का अग्रीमेंट फॉर्मेट English में होता है। सामान्य लोगोंको इसे समझना थोड़ा मुश्किल होता है। कृपया आप इस llp अग्रीमेंट फॉर्मेट को हिंदी में समझा सकती है क्या जैसे आप आपकी व्हिडिओ में बताती है उस तरह। प्लीज पायलजी कीजिये ये।

[@rahulff3351]

Very good

[@padhakulog]

❤️❤️

[@rahulff3351]

@@padhakulog 😂😂

[@vanshikachoudhary3265]

Mam is your father name is Amit popli

[@padhakulog]

No

[@skp2076]

Thank you ma'am

[@nazmikhan3530]

Thank you so much ma'am