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Introduction to Limited Liability Partnership (LLP) Act 2008
Which Act governs the formation and regulation of Limited Liability Partnerships in India?
The Limited Liability Partnership Act, 2008 governs the formation and regulation of LLPs in India.
Under Section 6(2) of the LLP Act 2008, after how many months does the sole remaining partner become personally liable for LLP obligations?
After six months of carrying on business alone
What is the minimum number of designated partners required in an LLP under Section 7(1) of the LLP Act 2008?
Every LLP must have at least two designated partners who are individuals.
What capabilities does an LLP acquire upon registration under Section 14 of the LLP Act 2008?
Right to sue, hold property, and have a common seal
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