General circular No 37/2014
File No. 2/3/2014 CL-V
Dated 14th October,2014
Subject: Clarification with regard to Trust/ trustee as a partner in the Limited Liability Partnerships (LLPs).
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” (InvITs) 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.
- 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
- This issues with the approval of Competent Authority.
Yours faithfully,
Kamna Sharma Assistant Director
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