CorporateAct No. 6 of 2009In Force

The Limited Liability Partnership Act, 2008

Introduces limited liability partnerships as a hybrid business vehicle combining partnership flexibility with corporate limited liability. LLPs are popular among professional service firms, consultancies, and startups. Partners are not personally liable for the wrongful acts of other partners, and the LLP itself is a separate legal entity.

Sections

Schedules

Ministry

Ministry of Corporate Affairs

Last Amended

2021-08-13

Key Provisions

→Incorporation and registration of LLPs with the Registrar

→LLP agreement governing mutual rights and duties of partners

→Separate legal entity and perpetual succession

→Limited liability of partners — personal assets protected

→Designated partner obligations and accountability

→Annual filing and financial disclosure requirements

→Conversion of partnership or company into LLP

→Winding up and dissolution of LLP

Related Practice Areas

corporate-advisory startup-legal fdi-advisory

LLPlimited liability partnershipdesignated partnerLLP agreementprofessional firmincorporation

Section-by-Section Reference

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Indian government legislation is in the public domain under S.52(1)(q) of the Copyright Act, 1957. This reference is for educational purposes. Laws are amended frequently — verify the current text on the e-Gazette of India before relying on it for legal proceedings.