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In India, LLPs are governed by the provisions of the Limited Liability Partnership Act, 2008 (LLP Act) (effective by way of notification dated 31 March 2009) and the Limited Liability Partnership Rules, 2009 (LLP Rules). LLP Act is applicable to the whole of India including the state of Jammu & Kashmir, unlike the Indian Partnership Act, 1932 ...
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Concept of "limited liability partnership" • LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. • The LLP can continue its existence irrespective of changes in partners.
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THE LIMITED LIABILITY PARTNERSHIP ACT, 2008 _____ ARRANGEMENT OF SECTIONS _____ CHAPTER I PRELIMINARY SECTIONS 1. Short title, extent and commencement. 2. Definitions. CHAPTER II NATURE OF LIMITED LIABILITY PARTNERSHIP 3. Limited liability partnership to be body corporate. 4. Non-applicability of the Indian Partnership Act, 1932. 5. Partners. 6.
Jan 11, 2024 · LLPs in India are governed by the Limited Liability Partnership Act 2008 and regulated by the Ministry of Corporate Affairs (MCA). To establish an LLP, partners must file the necessary documents, such as the incorporation agreement and partner details, with the Registrar of Companies (RoC).
Nov 7, 2012 · A Limited Liability Partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence.
Jun 30, 2021 · A limited liability partnership (“ LLP ”) is generally viewed as an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility...
Oct 18, 2023 · Step 3: Name Approval. RUN-LLP (Reserve Unique Name-Limited Liability Partnership) is filed for the reservation of the name of the proposed LLP which shall be processed by the Central Registration Centre. But before quoting the name in the form, it is recommended that you use the free name search facility on .
