Which of the following statements is true about the Indian Partnership Act, 1932 after the enactment of…
The Indian Partnership Act, 1932 does not generally apply to LLP firms. Section 4 of the Limited Liability Partnership Act, 2008 expressly excludes its application, save as…
Choose your answer
Which of the following statements is true about the Indian Partnership Act, 1932 after the enactment of the Limited Liability Partnership Act, 2008 ?
Answer and explanation
Correct answer D
The Indian Partnership Act, 1932 does not generally apply to LLP firms. Section 4 of the Limited Liability Partnership Act, 2008 expressly excludes its application, save as otherwise provided, while ordinary partnerships continue under the Partnership Act.
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