Company Law - Clarification on Trust/Trustee as a partner in LLP
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" (lnvITs) 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 Ministry of Corporate Affairs clarifies that: 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.
MoCA General Circular No. , Dated: October 14, 2014