| SECTIONS |
Limited
Liability Partnership Act, 2008
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Preamble |
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CHAPTER I: PRELIMINARY |
| 1. |
Short title, extent and commencement |
| 2. |
Definitions |
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CHAPTER II: NATURE OF LIMITED LIABILITY PARTNERSHIP |
| 3. |
Limited liability partnership to be body corporate |
| 4. |
Non-applicability of the Indian Partnership Act, 1932 |
| 5. |
Partners |
| 6. |
Minimum number of partners |
| 7. |
Designated partners |
| 8. |
Liabilities of designated partners |
| 9. |
Changes in designated partners |
| 10. |
Punishment for contravention of sections 7, 8 and 9 |
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CHAPTER III: INCORPORATION OF LIMITED LIABILITY
PARTNERSHIP AND MATTERS INCIDENTAL THERETO |
| 11. |
Incorporation document |
| 12. |
Incorporation by registration |
| 13. |
Registered office of limited liability partnership and change therein |
| 14. |
Effect of registration |
| 15. |
Name |
| 16. |
Reservation of name |
| 17. |
Change of name of limited liability partnership |
| 18. |
Application for direction to change name in certain circumstances |
| 19. |
Change of registered name |
| 20. |
Penalty for improper use of words "limited liability partnership" or "LLP" |
| 21. |
Publication of name and limited liability |
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CHAPTER IV: PARTNERS AND THEIR RELATIONS |
| 22. |
Eligibility to be partners |
| 23. |
Relationship of partners |
| 24. |
Cessation of partnership interest |
| 25. |
Registration of changes in partners |
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CHAPTER V: EXTENT AND LIMITATION OF LIABILITY
OF LIMITED LIABILITY PARTNERSHIP AND PARTNERS |
| 26. |
Partner as agent |
| 27. |
Extent of liability of limited liability partnership |
| 28. |
Extent of liability of partner |
| 29. |
Holding out |
| 30. |
Unlimited liability in case of fraud |
| 31. |
Whistle blowing |
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CHAPTER VI: CONTRIBUTIONS |
| 32. |
Form of contribution |
| 33. |
Obligation to contribute |
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CHAPTER VII: FINANCIAL DISCLOSURES |
| 34. |
Maintenance of books of account, other records and audit, etc |
| 35. |
Annual return |
| 36. |
Inspection of documents kept by Registrar |
| 37. |
Penalty for false statement |
| 38. |
Power of Registrar to obtain information |
| 39. |
Compounding of offences |
| 40. |
Destruction of old records |
| 41. |
Enforcement of duty to make returns, etc |
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CHAPTER VIII: ASSIGNMENT AND TRANSFER OF PARTNERSHIP
RIGHTS |
| 42. |
Partner's transferable interest |
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CHAPTER IX: INVESTIGATION |
| 43. |
Investigation of the affairs of limited liability partnership |
| 44. |
Application by partners for investigation |
| 45. |
Firm, body corporate or association not to be appointed as inspector |
| 46. |
Power of inspectors to carry out investigation into affairs of related entities, etc |
| 47. |
Production of documents and evidence |
| 48. |
Seizure of documents by inspector |
| 49. |
Inspector's report |
| 50. |
Prosecution |
| 51. |
Application for winding up of limited liability partnership |
| 52. |
Proceedings for recovery of damages or property |
| 53. |
Expenses of investigation |
| 54. |
Inspector's report to be evidence |
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CHAPTER X: CONVERSION INTO LIMITED LIABILITY
PARTNERSHIP |
| 55. |
Conversion from firm into limited liability partnership |
| 56. |
Conversion from private company into limited liability partnership |
| 57. |
Conversion from unlisted public company into limited liability partnership |
| 58. |
Registration and effect of conversion |
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CHAPTER XI: FOREIGN LIMITED LIABILITY PARTNERSHIPS |
| 59. |
Foreign limited liability partnerships |
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CHAPTER XII: COMPROMISE, ARRANGEMENT OR RECONSTRUCTION
OF LIMITED LIABILITY PARTNERSHIPS |
| 60. |
Compromise, or arrangement of limited liability partnerships |
| 61. |
Power of Tribunal to enforce compromise or arrangement |
| 62. |
Provisions for facilitating reconstruction or amalgamation of limited liability partnerships |
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CHAPTER XIII: WINDING UP AND DISSOLUTION |
| 63. |
Winding up and dissolution |
| 64. |
Circumstances in which limited liability partnership may be wound up by Tribunal |
| 65. |
Rules for winding up and dissolution |
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CHAPTER XIV: MISCELLANEOUS |
| 66. |
Business transactions of partner with limited liability partnership |
| 67. |
Application of the provisions of the Companies Act |
| 68. |
Electronic filing of documents |
| 69. |
Payment of additional fee |
| 70. |
Enhanced punishment |
| 71. |
Application of other laws not barred |
| 72. |
Jurisdiction of Tribunal and Appellate Tribunal |
| 73. |
Penalty on non-compliance of any order passed by Tribunal |
| 74. |
General penalties |
| 75. |
Power of Registrar to strike defunct limited liability partnership off register |
| 76. |
Offences to limited liability partnerships |
| 77. |
Jurisdiction of Court |
| 78. |
Power to alter Schedules |
| 79. |
Power to make rules |
| 80. |
Power to remove difficulties |
| 81. |
Transitional provisions |
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FIRST SCHEDULE |
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SECOND SCHEDULE |
