Trusts Setup under SEBI Act 1992 can become a Partner of LLP

After 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” (lnvlTs) or such oth­er trusls 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 by MCA via Cir­cu­lar No 37/2014 dat­ed 14.10.2014 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.

Down­load Cir­cu­lar 37/2014