Limited Liability Partnerships will be possible in India

January 20, 2009 at 12:08 pm | Posted in Entrepreneur, India, Legal, Startup | Leave a comment

The Parliament of India has passed the Limited Liability Partnership (LLP) Bill 2008. Lok Sabha (Lower House) granted its assent to the Bill on December 12, 2008 which was earlier passed by the Rajya Sabha (Upper House). The LLP Rules have been placed on the website of the Ministry of Corporate Affairs:

http://www.mca.gov.in/MinistryWebsite/dca/actsbills/pdf/LLP_Act_2008_15jan2009.pdf

Here is a wiki entry explaining the salient features:

http://en.wikipedia.org/wiki/Limited_liability_partnership#India

Hope it will give a good option to the entrepreneurs and startups to go for a limited liability and still stay away form the overheads of a private limited company.

limited-liability-partnership-india

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