Netz capital announces that it is all set to launch India’s first online, automated and easy to use LLP incorporation services from 1st March 2009. Netz capital online services shall work in tandem with Registrar of Companies (ROC) and provide easy access to ROC services through simple, easy to use interface. Netz Capital is a venture and advisory fund and some of the other businesses run by the group include Airnetz Aviation, Indsoft Systems and yacht charter services.
In the release, Atul Khekade, Director of Netz capital said, “In the tough global recession time, Sole proprietorship companies as well as private limited companies are looking to shift towards limited liability partnerships that suits individual investors giving them limited liability for the business they are running.” “Business friendly bill of LLP in India shall attract lot of domestic as well as international corporate to form their entity and file tax returns in India” he added.
Mr. Khekade is talking about the LLP Act,2008 that was recently passed by the parliament. The Limited Liability Partnership format is an alternative corporate business vehicle that provides the benefits of limited liability of a company but allows its members the flexibility of organizing their internal management on the basis of a mutually arrived agreement, as is the case in a partnership firm.
This format would be quite useful for small and medium enterprises in general and for the enterprises in services sector in particular. Internationally, LLPs are the preferred vehicle of business particularly for service industry or for activities involving professionals. (Source)
Complexities of registration and the red tape involved in the same has always been a major hurdle putting off a lot many entrepreneurial minds in India. If this service lives up to its claims and makes the whole process, especially the LLP registration hassle free, it would be a very handy feature to own. Netz Capital has also been in the news with regards to business incubation of nearly 30 startups and investing nearly $2 million in startup in India.
