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The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. Unlike the general partnerships in India, LLP is a body corporate and legal entity separate from its partners, have Perpetual succession and any change in the partners of an LLP shall not affect the ...
- 7 January 2009
- 12 December 2008
- 31 March 2009
- Parliament of India
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...
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Jul 3, 2020 · LLP is a Limited Liability Partnership is a corporate business vehicle that provides the benefits of limited liability of a company to its members and also allows to manage their internal management on the basis of mutually arrived agreement as in case of a partnership firm.
- Ayush Verma
Aug 13, 2021 · Limited Liability Partnership Act, 2008. A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.
Definition of Limited Liability Partnership. A Limited Liability Partnership (LLP) is a hybrid business structure that provides its partners with limited liability protection while allowing them to participate in the management and decision-making process.
Section 1. Short title, extent and commencement. Section 2. Definitions. Section 3. Limited liability partnership to be body corporate. Section 4. Non-applicability of the Indian Partnership Act, 1932. Section 5.
May 7, 2020 · A Limited Liability Partnership is a corporate body which combines the flexibility of a partnership with the limited liability of a company. The overarching tenets of free trade infused with a desire for less bureaucratic burden has led to the growing popularity of Limited Liability Partnerships as forms of business association.
