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A Limited Liability Partnership (LLP) is a business structure that combines the flexibility of a partnership and the limited liability of a company. It was first introduced in USA in 1991then in the United Kingdom in 2000, following the Limited Liability Partnership Act of 2000. The
Limited Liability Partnerships - The NewAge Business Vehicle. LLPs are rapidly emerging as an alternative to companies and partnership firms which have traditionally been used as forms of business entities. LLP is a hybrid form of business entity which combines the merits of a company and a partnership.
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Governed by LLP Act 2008, The Act came into force for most of its part on 31/03/2009, followed by its rules on 01/04/2009 and the registration of first LLP on 02/04/2009. It came as a result of the recommendations made by several expert committees like Bhatt Committee of 1972, Naik Committee of 1992, Abid Hussain Committee of 1997, Gupta ...
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Mar 15, 2021 · Limited Liability Partnership. : Pramod Jain. Bloomsbury Publishing, Mar 15, 2021 - Law - 799 pages. The Limited Liability Partnership were introduced in India vide the Limited Liability Partnership Act, 2008. LLP has combined the flexibility of a partnership and the advantages of limited liability of a company at a low compliance cost.
- Pramod Jain
- Bloomsbury Publishing, 2021
- 9390252490, 9789390252497
Jun 30, 2021 · 3.1. The limited liability partnership agreement generally provides the mutual rights and duties of partners of an LLP inter-se and those of the LLP and its partners. 3.2. Some of the terms that a ...
Jan 11, 2024 · A Limited Liability Partnership (LLP) is a business entity that combines the advantages of both partnerships and companies. It provides its members with limited liability protection, like that of a company, while maintaining a partnership’s flexibility and tax benefits. In an LLP, the partners have limited liability for the firm’s debts and ...
Difference between LLP & a Company. This site is owned by Ministry of Corporate Affairs. LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.
