What does the Limited Liability Partnership Act, 2008 provide about the number of partners in an LLP?
Question and options
What does the Limited Liability Partnership Act, 2008 provide about the number of partners in an LLP?
At least seven, and at most fifty
At least two, with no upper limit
At least seven, with no upper limit
At least two, and at most fifty
Answer and explanation
Correct answer: B - At least two, with no upper limit
Section 6 of the Limited Liability Partnership Act, 2008 requires every LLP to have at least two partners and sets no maximum. The ceiling on partners in section 464 of the Companies Act, 2013 applies to ordinary partnerships and associations, not to LLPs, and seven is the minimum membership of a public company.
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