Saturday, May 23, 2009

Limited Liability Partnership_8

What are the restrictions in respect of minimum and maximum number of partners in an LLP?

A minimum of two partners will be required for formation of an LLP. There will not be any limit to the maximum number of partners.

Limited Liability Partnership_7

Whether provisions of Indian Partnership Act, 1932 would be applicable to LLPs?

No, these shall not be applicable to LLPs.