LLP Name Approval Guidelines, Check Various Conditions

LLP Name Approval Guidelines: LLPs are rapidly emerging as an alternative to companies and partnership firms which have traditionally been used as forms of business entities. LLP is a hybrid form of business entity which combines the merits of a company and a partnership. It provides the benefits of limited liability, greater tax efficiency and allows its members the flexibility of organising their internal structure as a partnership based on a mutually arrived at agreement

LLP Name Approval Guidelines

A Name shall not be allotted generally If:

• 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;
• It includes the word Co-operative, Sahakari or the equivalent of word ‘co-operative’ in the regional languages of the country;
• 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’;
• Association 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;
• 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;
• Provided the name shall be reserved, in case “No Objection Certificate” is granted by the registered Limited Liability Partnership or the Company as the case may be;
• Registered Trade mark: It includes name of registered Trade mark, unless the consent of the owner of the trade mark has been produced;
• Identical or Similar name: 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;
• 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;
• Name of Countries: 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 Qualification: 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.