Which of the following can become the member of an LLP? A. Resident Indians B. Limited Liability…
Under Section 5 read with Section 2(1)(d) of the Limited Liability Partnership Act, 2008, any individual (such as Resident Indians, A) or 'body corporate' may be a partner…
Choose your answer
Which of the following can become the member of an LLP?
A. Resident Indians
B. Limited Liability Partnership
C. Corporation Sole
D. Co-operative society
E. Companies (including foreign companies)
Answer and explanation
Correct answer D
Under Section 5 read with Section 2(1)(d) of the Limited Liability Partnership Act, 2008, any individual (such as Resident Indians, A) or 'body corporate' may be a partner in an LLP. The definition of 'body corporate' includes other LLPs (B) and Companies including foreign companies (E), but expressly excludes a 'corporation sole' (C) and a 'co-operative society' (D).
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UGC NET Commerce