I have LLP Firm and want to open Account with Zerodha


#1

Hi… I have recently incorporated an LLP, and now I want to open my LLP’s account with Zerodha. Is it possible? and what are the requirements?


#2

I have LLP trading account with zerodha …
Contact customer care, paper work is annoying though


#3

Ok. Thank you for replying. Will contact customer care.


#4

Also just wanted to know whether you incorporated LLP only for Trading or you have other business than trading and you have opened account just to invest surplus money.


#5

opened it only for trading , so cant use mine for some other business … i dont have a demat for my LLP though
no investment … i opened it for trading alone


#6

@velu I asked this question earlier also, you didnt answer. I hope you will answer this time :slight_smile: What is the advantage of having an LLP over a proprietorship ? I want to trade derivatives + short term invest + write and sell software as service. Which one should I incorporate ?


#7

sorry , probably you might have messaged me to my older id :smile:

proprietorship is for a single person … if you have atleast one partner ready to invest their money then you have to go for pvt ltd or enterprise …
llp or pvt ltd is unnecessary if you are the only person involved in your business/trading …

for selling software we need gstn i guess , probably you can get it as self …


#8

@velu thank you very much. Now I just want to know what Object clause did you insert in the partnership deed. Because I initially used Object as trading in stocks and commodities and my application for incorporation of LLP with MCA was sent for re-submission stating I need to get RBI approval. can you help me in this pls?


#9

Mine got rejected twice , once for name and next time for clause…
Let me check which clause i gave


#10

Yes please. That would a great help… Thanks. pls let me know your object clause.


#11

this is the description my CA filled …
exact clause ( i think 16 A or something ) i will get it for you …

he selected some clause like Financial service and in the subclass we selected other and filled it as managing partners own money …

mca rejected the description once , but they accepted the below description …

no need to get approval from RBI for this


#12

Thank you very much @Velu. That’s great help. I will check what my CS included as Object Clause. But very much thankful to you. Would like to be in touch with you on phone or email as I am also about open my LLP Firm’s account with Zerodha. I have also incorporated LLP just for derivatives trading.
Will be helpful to be in touch.
My email id is : cspankajpatil@gmail.com


#13

@pankajp31

clause is given in the company information page itself :smile:

Division : 74
Select “Other Business Activities” in the subsection.

and give description as “Managing partners fund” .


#14

@velu. Thats great help. Thank you very much… Will advice my CA to use similar words for ‘Object Clause’.

Thanks again.


#15

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