How to sellect LLP name
The name of the LLP is its identity with which it shall be recognized forever. Hence, selecting a name for the LLP is a very crucial task. It is a criterion under law that the name given to the LLP should in a way describe its objectives.
First Step in the process is to check whether the given name is available. If the name decided on is already assigned to an existing LLP, then to use such a name, a ‘no objection’ certificate is required to be submitted from such an existing LLP.
The Emblems and Names (Prevention of improper use) Act, 1950 has a prescribed list of names that cannot be used as names of an LLP. Hence, care should be taken that the name given to the LLP does not fall under such category. Various bodies such as SEBI, RBI have also put down a list of names that if we used as LLP names, would require special permission from the respective board.
Foreign companies have a special provision where they can reserve their name under the LLP Act. In case they wish to operate as an LLP in India in the future, they can operate under the same name. Such name if reserved, is unavailable to others.
First Step in the process is to check whether the given name is available. If the name decided on is already assigned to an existing LLP, then to use such a name, a ‘no objection’ certificate is required to be submitted from such an existing LLP.
The Emblems and Names (Prevention of improper use) Act, 1950 has a prescribed list of names that cannot be used as names of an LLP. Hence, care should be taken that the name given to the LLP does not fall under such category. Various bodies such as SEBI, RBI have also put down a list of names that if we used as LLP names, would require special permission from the respective board.
Foreign companies have a special provision where they can reserve their name under the LLP Act. In case they wish to operate as an LLP in India in the future, they can operate under the same name. Such name if reserved, is unavailable to others.