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The Limited Liability Partnership Act, 2008 Bare Act English,1st Edition 2026
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Description
The Limited Liability Partnership Act,2008 Bare Act English,1st Edition 2026
The Limited Liability Partnership (LLP) Act, 2008 is an Indian law that created the LLP structure, a hybrid business entity blending the flexibility of traditional partnerships with the limited liability of a company, making partners personally liable only up to their agreed contribution, not for other partners’ mistakes. It establishes LLPs as separate legal entities with perpetual succession (not affected by partner changes) and provides a framework for their formation, regulation, rights, and duties, differing from general partnerships and the Companies Act.
Key Features & Provisions:
- Hybrid Structure: Combines benefits of partnerships (flexibility, low compliance) and companies (limited liability, separate legal identity).
- Separate Legal Entity: An LLP is a body corporate, distinct from its partners, allowing it to own property, sue, and be sued.
- Limited Liability: Partners’ personal liability is limited to their capital contribution; they are not liable for other partners’ wrongful acts.
- Perpetual Succession: The LLP’s existence continues despite changes in partners (death, bankruptcy, etc.).
- Flexibility: Partners can organize internal management and duties through an LLP Agreement.
- Regulation: Governed by the LLP Act, 2008, not the Indian Partnership Act, 1932.
- Designated Partners: Requires at least two designated partners, with one being an Indian resident.
- Formation: Involves registration with the Registrar of Companies.
Additional information
| Binding | Paperback |
|---|---|
| Edition | Edition 2026 |
| Language | English |
| Publisher | Whitesmann Publishing |
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