MCA withdraws memo barring LLPs from mfg .

The ministry of corporate affairs (MCA) has withdrawn its office memorandum (OM), issued on 6 March 2019, restricting limited liability partnerships (LLPs) from engaging in manufacturing activities. In the OM, the ministry had said that LLPs as body corporates have been set up for the purposes of carrying out business activities related to the service sector. Incorporation of LLPs and conversion of LLPs with the proposed business activity (ies), including manufacturing & allied activities are not be allowed, the memorandum said. Following concerns raised in various quarters, the ministry decided to withdraw the OM with immediate effect.