Valuation framework for limited liability partnerships now tracks company law standards for contributions, assets, net worth, and liabilities.

Insertion of section 33A applies the valuation framework in section 247 of the Companies Act, 2013, mutatis mutandis, to valuations required under the Limited Liability Partnership Act, 2008 and the rules made under it. The provision covers a partner's contribution in a limited liability partnership, and also the valuation of any property, assets, net worth, or liabilities of the limited liability partnership where valuation is required under the Act or subordinate legislation.

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