Chatterjee, Bose & Dixit Co. LLP was incorporated on 1st October, 2020. It has become very renowned in the field of insurance survey and has already achieved a turnover of ₹5 crore by 31st March, 2021. Advice the LLP

Provisions of the Limited Liability Partnership (LLP) Act, 2008: As per Section 2(1)(q) of the LLP Act, 2008 , a "partner", in relation to a limited liability partnership, means any person who becomes a partner in the limited liability partnership in accordance with the limited liability partnership agreement. Section 5 of the LLP Act, 2008 states that any individual or body corporate may be a partner in a limited liability partnership. Clarifications by MCA: It is further clarified vide MCA General Circular No. 13/2013 dated 29th July, 2013 read with MCA General Circular No. 2/16 dated 15th January, 2016 that a **HUF cannot be treated as a body corporate** for the purposes of LLP Act, 2008. Therefore, a HUF or its Karta cannot become a partner or designated partner in an LLP. MCA General Circular No. 37/2014 dated 14th October, 2014 has clarified that the trustee being a body corporate and representing a trust in case of "Real Estate Investment Trust" (REIT) or "Infrastructure Investment Trust" (InvITs) or such other trusts set up under the regulations prescribed under the Securities & Exchange Board of India Act, 1992 is **not barred to hold partnership in an LLP in its name** without the addition of the statement that it is a trustee. This implies that a Trust can be a partner if its trustee is a body corporate. Conclusion: Chatterjee, Bose & Dixit Co. LLP **cannot admit a HUF as its partner**. Chatterjee, Bose & Dixit Co. LLP **can admit a Trust as its partner**, provided the trustee of the Trust is a body corporate.