What is Designated Partner Identification Number (DPIN)?
Limited Liability Partnership (LLP) is governed by Limited Liability Partnership Act, 2008. It is a new form of partnership wherein every partner has limited liability, unlike normal partnerships.
A LLP requires a minimum of 2 partners whereas there is no upper limit as to the maximum number of partners. In an LLP even a body corporate is also allowed to become a partner.
Any person, that is, individual cannot be partner of an LLP if:
- He is of an unsound mind and has so been found by the Court
- He is insolvent and not yet discharged
- He has put up an application for insolvency which is still under process
As per Section 7 of Limited Liability Partnership Act, 2008 every LLP must have at least 2 designated partners. And both the designated partners must be individuals of whom at least one must be a resident of India.
These designated partners will be held responsible for all legal and regulatory compliances.
In case an LLP has only body corporates as partners or only one individual partner then the nominees of those body corporates will act as designated partners.
Designated partner identification number (DPIN)
In an LLP every designated partner has to mandatorily get a unique DPIN, like Directors Identification Number (DIN) in case of companies. The procedure for application of DPIN is as follows:
- After Limited Liability Partnership registration and selection of Designated Partners apply for DPIN online in Form- 7 of LLP Rules, 2009.
- An immediate Provisional DPIN will be generated which will be valid for 6 months. Take a print out and affix a passport size photograph on it along with other necessary documents, like ID proof, address proof etc.
- Submit it physically. Send it by courier or speed post to the office of Ministry of Corporate Affairs (MCA).
- The MCA will issue the DPIN within 7 days of receipt of application by post.
The designated partners will then need to submit their DPIN to LLP in e-Form 9 post which the LLP will submit it to the Registrar in e-Form 4. For more information you can visit www.registrationsindia.com
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