Circular CCI/CIR/2007/969 of the Competition Commission of India dated 25th July, 2007 on the business of a limited liability partnership [C12-S5R]

CCI/CIR/2007/969

Competition Commission of India

New Delhi, dated the 25th July, 2007

CIRCULAR

To

All Inspecting Officers,

Subject: The business of a limited liability partnership by limited liability partnerships under the Competition Act, 2003, regarding.

In exercise of the powers conferred by section 9 of the Competition Act, 2003 (12 of 2003), the Competition Commission of India hereby issues the following

1. References have been received seeking clarification on the manner in which section 9 applies to the business of a limited liability partnership by limited liability partnerships.

2. The matter has been examined. Every limited liability partnership carrying on the business of a limited liability partnership shall make an application in Form DIR-12 to the Insolvency and Bankruptcy Board within ninety days, accompanied by a fee of two thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of a limited liability partnership is undertaken, and the Insolvency and Bankruptcy Board shall dispose of it within ninety days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Competition Commission of India.

(Chief General Manager)