Question

Limited Liability Partnership form of business organization has been introduced in India by ________.

• A. Indian Companies Act, $1956$
• B. Limited Liability Partnership Act, $2008$
• C. Indian Contract Act
• D. Limited Liability Partnership Act, $2006$

Answer 1

Answer: (B)

Limited Liability Partnership Act, $2008$

Limited Liability Partnership form of business organization has been introduced in India by the Limited Liability Partnership Act, 2008 which was enacted by the Parliament of India to introduce and legally sanction the concept of LLP. A Limited Liability Partnership (LLP) is a partnership in which some or all partners have limited liability.

Thus the correct answer is B.