The whole concept behind enacting the Limited Liability Partnership Act was that the limited liability partnership shall not be held liable for the independent
Sec. 14 of the LLP Act lays down that: On registration, a limited liability partnership shall, by its name, be capable of: suing and being
For the purpose of forming a LLP, there should be agreement between the partners interested in forming the LLP to be known as LLP Agreement.
According to Sec. 24 of the LLP Act, a person may cease to be a partner of a LLP in accordance with an agreement with
difference between LLP and Partnership are as follows
Difference between LLP and Company are as follows