ABOUT LIMITED LIABILITY PARTNERSHIP
Limited Liability Partnership (LLP) in India governed under Limited Liability Partnership Act 2008, LLP is a corporate business that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, as a hybrid of companies & partnerships providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership. LLP’s are administered by the Registrar of Companies. Liability of partners is limited except where an Act is carried out by the LLP with intent to defraud creditors or any other person or for any fraudulent purpose A limited liability partnership is created through the state. Each state has its own set of rules and regulations that one must follow to form an LLP.