Section 7 of LLP Act, 2008 : Section 7: Designated Partners

LLP Act, 2008

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Explanation using Example

Imagine that Rita and Suresh decide to start a consulting business and choose to form a Limited Liability Partnership (LLP) for their venture. They register their LLP and as per Section 7(1) of the Limited Liability Partnership Act, 2008, they both agree to be the designated partners. Suresh is a resident of India as he has been living in India for the past 200 days, satisfying the residency requirement. Rita, on the other hand, is a US citizen but has been living in India for the ...

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