In connection to my previous posting (Limited Liability Partnership: A new method of company Incorporation), this discusses about the new rules in LLPs. Currently, FDI is not permitted in Partnership Firm, but allowed in companies subject to Sectoral caps. But now Govt. propose 49% FDI cap in selected sector while RBI propose the FDI in all sector with 49% cap.
Akash Gupta, Executive director, PwC says more is needed to take off this structure. “While allowing FDI in LLPs there is also a need to address sector regulatory issues that prohibit these entities from carrying on a particular activity,”. LLPs for instance, cannot bid for a road project as per guidelines of the National Highway Authority of India. Till now only 914 LLPs has been registered.
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