MCA Circular- No bar for Trust/Trustee of Real Estate Investment Trust (REIT), Infrastructure Investment Trust (lnviTs) or Trusts under SEBI India Act to be LLP Partners

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General Circular No.  37/2014

No.   2/3/2014-CL-V
Government of India
Ministry of Corporate Affairs

5th Floor, "A" Wing, Shastri Bhavan,
Dr Rajendraa Prasad Road
New Delhi

Dated: 14th October, 2014

To
All  Regional  Directors,
All ROCs
All Stakeholders

Subject: Clarification with regard to Trust/ trustee as a partner in the Limited Liability Partnerships (LLPs).

Sir,

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.

2. 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 trustee.

3. This issues with the approval of the competent authority.

Yours faithfully
Kamna Sharma
Assistant Director