Clarification with regard to Trust/ trustee as a partner in the Limited Liability Partnerships (LLPs) - LLP - 37/2014

Circular No. 37/2014 F. No. 2/3/2014-CL-V Government of India Ministry of Corporate Affairs 5 th Floor 'A' Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi - 110 001 Dated the 14 th October, 2014 To, All Regional Directors, All Registrar of Companies, Al1 Stakeholders Subject: Clarification with regard to Trust/ trustee as a partner in the Limited Liability Partnerships (LLPs). Sir, Clarifications have been sought on whether a trust or a trustee representing a trust in the case of Real Estate Investment Trust (REIT) or Infrastructure Investment Trust (InvlTs) or such other trusts set up under the regulations prescribed under the Securities Exchange Board of India Act, 1992, can become a partner in an LLP. 2. The matter has been examined in consultation with the Law Ministry and it is clarified that for the purposes of these trusts it is not barred for a trustee, being a body corporate, to hold partnership in an LLP in its name without the addition of the statement that it is a trustee. 3. This issues with the approval of Competent Authority. Yours faithfully, Kamna Sharma Assistant Director