Wednesday, March 14, 2012

LLP Name - Guidelines


The guidelines for the availability of LLP names are prescribed by the LLP Act
  • The name of the limited liability partnership shall not be one prohibited under the Emblems and Names (Prevention of Improper Use) Act, 1950
  • A Name shall not generally be reserved, if -
    • Offensive Names: It includes any word or words which are offensive to any section of the people;
    • Translation: The proposed name is the exact Hindi or English translation of the name of an existing limited liability partnership in English or Hindi, as the case may be; Phonetic Resemblance: The proposed name has a close phonetic resemblance to the name of a LLP in existence, for example, J.K. LLP., Jay Kay LLP;
    • Co-operative Sector: It includes the word Co-operative, Sahakari or the equivalent of word 'co-operative' in the regional languages of the country;
    • Government Patronage: It connotes the participation or patronage of the Central or State Government, unless circumstances justify to, e.g., a name may be deemed undesirable in certain context if it includes any of the words such as National, Union, Central, Federal, Republic, President, Rashtrapati, etc;
    • The proposed name contains the words 'British India';
    • Assocation with Embassy: The proposed name implies association or connection with any Embassy or Consulate or of a foreign government which suggests connection with local authorities such as Municipal, Panchayat, Zila Parishad or any other body connected with the Union or State Government;
    • Vague Names: The proposed name is vague like D.I.M.O. Limited liability partnership or I.V.N.R. Limited liability partnership or S.S.R.P Limited liability partnership;
    • Close Similarity: It is different from the name or names of the existing limited liability partnership only to the extent of having the name of a place within brackets before the word 'limited liability partnership', for example, Indian Press (Delhi) LLP should not be allowed in view of the existence of the LLP named Indian Press LLP;
    • Trade mark: It includes name of registered Trade mark, unless the consent of the owner of the trade mark has been produced;
    • Identical Names: The proposed name is identical with or too nearly resembles the name of a firm or LLP or company incorporated outside India and reserved by such firm, LLP or company with the registrar in accordance with these rules;
    • It is identical with or too nearly resembles the name of the limited liability partnership or a company in liquidation or it is identical with or too nearly resembles names of the LLP or a company which is struck off, up to the period of 5 years;
    • Name Requiring Approval: It includes words like 'Bank', 'Insurance' and 'Banking', 'Venture capital' or 'mutual fund' or such similar names without the approval of the regulatory authority;
    • Misleading Names: It is intended or likely to produce a misleading impression regarding the scope or scale of its activities which would be beyond the resources at its disposal;
    • Countries Names: The proposed name includes words like French, British, German etc., unless the partners satisfy that there is some form of collaboration and connection with the foreigners of that particular country or place, the name of which is incorporated in the name;
    • Professional Names: The proposed name of limited liability partnership includes the words company secretary, chartered accountant, advocates or such similar words as indicative of a profession, as part of the proposed name, the same shall be allowed only after obtaining approval from the Council governing such profession or such authority as may be nominated by the Central Government, in this behalf.
    • Prohibited Words: The Ministry of Corporate Affairs of India has prescribed certain words, which should not form part of the name of LLP intended to be incorporated in India, such words are prohibited under The Emblems and Names (Prevention of improper use) Act, 1950.
Words Based on Approval: Various government regulatory authorities operating in India like Securities & Exchange Board of India, Reserve Bank of India, has prescribed certain words, which if forms part of the name of the proposed LLP to be incorporated, requires there first hand approval. Names reserved for Foreign LLP/Companies: In case Foreign LLP/Companies have reserved their name such names shall not be available for registration.



Also read Company Name Guidelines.

3 comments:

  1. Great post.Thanks for sharing.
    DOCUMENTS REQUIRED FOR LLP REGISTRATION :

    To be submitted by Partners :

    Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs), Scanned copy of Voter's ID/Passport/Driver's License, Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill, Scanned passport-sized photograph, Specimen signature (blank document with signature [partners only]).
    Need help to get LLP Registration ?
    Visit here : llp registration procedure
    Call Us : +91 7200 365 365
    Mail Us : support@vakilsearch.com

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