Limited Liability Partnership Act 2008
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What is the governing legislation for Limited Liability Partnerships in India?
The Limited Liability Partnership Act, 2008, which came into force on 31st March 2009, governs LLPs in India.
What is the maximum number of partners permitted in an LLP under the LLP Act 2008?
No maximum limit on number of partners in LLP.
What is the minimum number of partners required to form an LLP?
An LLP must have a minimum of two designated partners, and there is no maximum limit on the number of partners.
What form must be filed to incorporate an LLP with the Registrar?
Form FiLLiP (Form for incorporation of LLP) must be filed.
What distinguishes an LLP from a traditional partnership under Indian law?
In an LLP, partners have limited liability restricted to their agreed contribution, and the LLP itself is a separate legal entity distinct from its partners, unlike a traditional partnership.
What is the minimum number of Designated Partners required in an LLP?
Minimum two Designated Partners are required in an LLP.
Who is a 'Designated Partner' under the LLP Act 2008?
A Designated Partner is a partner who is responsible for compliance with statutory obligations under the LLP Act; every LLP must have at least two designated partners who are individuals.
Who maintains the official register of LLPs in India?
Registrar of Companies (MCA) maintains the register of LLPs.
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